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<br />20
<br />City of Elk River
<br />Financial Analysis
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<br />
<br />Municipal Liquor Operations
<br />The following graph illustrates the current operations of the Municipal Liquor Fund for the past five
<br />years. Sales increased $652,107 in 2024 while cost of sales also increased $406,616, ending with an
<br />increase in gross profit of 11.1%. The net effect of the increases in revenues and expenses is
<br />operating income of $779,675, an increase of $142,512 compared to 2023.
<br />
<br />2020 2021 2022 2023 2024
<br />Gross Profit $2,245,745 $2,379,769 $2,335,534 $2,211,533 $2,457,024
<br />Operating Expenses 1,440,451 1,448,717 1,593,173 1,579,063 1,682,377
<br />Operating Income without
<br />Depreciation/Amortization 904,042 1,031,887 840,546 699,193 843,412
<br />Operating Income 808,044 936,948 746,731 637,163 779,675
<br /> $-
<br /> $500,000
<br /> $1,000,000
<br /> $1,500,000
<br /> $2,000,000
<br /> $2,500,000
<br /> $3,000,000
<br />Municipal Liquor Operations
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<br />Page 395 of 637
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