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<br /> I
<br />CITY OF ELK RIVER, MINNESOTA I
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS
<br /> PROPRIETARY FUNDS
<br />YEAR ENDED DECEMBER 31, 2005 I
<br /> Municipal I
<br /> Liquor Garbage Sewer
<br />Sales and cost of sales: I
<br />Sales $ 4,801,541 $ $
<br />Cost of sales (3,505,709)
<br />Gross profit 1,295,832
<br />Operating revenues: I
<br />User charges 1,048,655 1,250,222
<br />Delinquency collections 7,098 I
<br />Other 4,520 9,255 11,631
<br />Total operating revenues 4,520 1,065,008 1,261,853
<br />Operating expenses: I
<br />Personal services 430,364 7,611 303,247
<br />Supplies 70,711 44 65,996
<br />Purchased power I
<br />Other service charges 156,441 1,039,824 327,342
<br />Depreciation 139,907 767,400
<br />Total operating expenses 797,423 1,047,479 1,463,985 I
<br />Operating income (loss) 502,929 17,529 (202,132)
<br />Nonoperating revenues (expenses): I
<br />Connection charges 1,167,045
<br />Interest income 49,287 2,235 147,214 I
<br />Interest expense (41,541) (130,661)
<br />Bond issuance costs (242) (20,281 )
<br />Loss on sale of capital assets (14,426)
<br />Total nonoperating revenues (expenses) 7,504 2,235 1,148,891 I
<br />Income before contributions and transfers 510,433 19,764 946,759
<br />Capital contributions 556,429 I
<br />Transfers in (out) (233,300) 3,480 (33,030)
<br />Change in net assets 277,133 23,244 1,470,158 I
<br />Total net assets - January 1 3,781,870 86,545 23,240,846 I
<br />Total net assets - December 31 $ 4,059,003 $ 109,789 $ 24,711,004
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<br />The notes to the fmancial statements are an integral part of this statement. I
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