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<br />13
<br />City of Elk River
<br />Financial Analysis
<br />
<br />
<br />Multipurpose Facility Operations
<br />
<br />The following graph illustrates the current operations of the Multipurpose Facility Fund for the past
<br />four years.
<br />
<br />In 2024, the Fund showed revenues of $1,800,099, which was an increase of $253,483 compared to
<br />2023 as more revenue for facility rentals was obtained during the year. Expenditures decreased by
<br />$88,152 during 2024 with decreased equipment purchases. The Fund entered into an interfund loan
<br />with the Capital Outlay Reserve Fund in 2023 for $200,000 relating to the purchase of a Zamboni.
<br />The effect of increased revenues and decreased expenditures in 2024, along with $437,633 in other
<br />financing sources, resulted in an increase in fund balance of $307,644. The fund balance at the end
<br />of 2024 was $99,989.
<br />
<br />2021 2022 2023 2024
<br />Revenue $1,058,645 $1,854,970 $1,546,616 $1,800,099
<br />Expenditures 1,312,075 1,591,340 2,018,240 1,930,088
<br />Revenues over (under) Expenditures ($253,430)$263,630 ($471,624)($129,989)
<br />Other Financing Sources (Uses)-38,772 30,000 437,633
<br />Fund Balance (68,433)233,969 (207,655)99,989
<br /> (500,000)
<br /> (300,000)
<br /> (100,000)
<br /> 100,000
<br /> 300,000
<br /> 500,000
<br /> 700,000
<br /> 900,000
<br /> $(1,000,000)
<br /> $(500,000)
<br /> $-
<br /> $500,000
<br /> $1,000,000
<br /> $1,500,000
<br /> $2,000,000
<br /> $2,500,000
<br />Multipurpose Facility Operations
<br />
<br />Page 388 of 637
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