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<br />See notes to basic financial statements. 50
<br />Municipal
<br />Liquor Sewer Garbage Storm Water
<br />Sales and Cost of Sales
<br />Sales 8,626,308$ -$ -$ -$
<br />Cost of sales (6,169,284) - - -
<br />Gross profit 2,457,024 - - -
<br />Operating Revenues
<br />User charges - 2,782,896 1,962,002 674,715
<br />Delinquent collections - 2,946 2,433 139
<br />Other 5,028 175,931 - -
<br />Total operating revenues 5,028 2,961,773 1,964,435 674,854
<br />Operating Expenses
<br />Personnel services 1,169,606 808,186 28,071 -
<br />Materials and supplies 38,311 249,755 2,106 315
<br />Purchased power - - - -
<br />Other services and charges 410,723 1,206,116 1,708,065 64,927
<br />Depreciation/amortization 63,737 1,708,674 - 481,076
<br />Equipment - 477,951 - -
<br />Total operating expenses 1,682,377 4,450,682 1,738,242 546,318
<br />Operating income (loss)779,675 (1,488,909) 226,193 128,536
<br />Nonoperating Revenues (Expenses)
<br />Investment income 186,556 419,465 30,739 72,875
<br />Gain (loss) on sale of asset 135 1,878 - -
<br />Interest and other charges (360) (78,566) - -
<br />Miscellaneous revenue - - - -
<br />Total nonoperating revenues 186,331 342,777 30,739 72,875
<br />Income (loss) before capital
<br /> contributions and transfers 966,006 (1,146,132) 256,932 201,411
<br />Capital Contributions
<br />Contributions from Developers - 356,602 - -
<br />Contributions from Customers - - - -
<br />Connection Fees - 831,976 - -
<br />Transfers in 9,682 640,795 - -
<br />Transfers out (1,250,000) (175,000) (58,000) (175,000)
<br />Change in net position (274,312) 508,241 198,932 26,411
<br />Net Position
<br />Beginning of year 5,425,781 34,118,965 812,632 11,604,125
<br />End of year 5,151,469$ 34,627,206$ 1,011,564$ 11,630,536$
<br />Business-Type Activities - Enterprise Funds
<br />City of Elk River
<br />Statement of Revenues, Expenses, and Changes
<br />in Net Position - Proprietary Funds
<br />Year Ended December 31, 2024
<br />Page 240 of 637
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