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<br />CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS
<br />SEWER FUND
<br />YEAR ENDED DECEMBER 31,2006
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<br /> Sewer
<br /> Current Year Prior Year
<br />Operating revenues:
<br />User charges $ 1,350,922 $ 1,250,222
<br />Delinquency collections
<br />Other 1,725 11 ,631
<br />Total operating revenues 1,352,647 1,261,853
<br />Operating expenses:
<br />Personal services 341,620 303,247
<br />Supplies 69,001 65,996
<br />Purchased power
<br />Other service charges 394,050 327,342
<br />Depreciation 849,818 767,400
<br />Total operating expenses 1,654,489 1,463,985
<br />Operating income (loss) (301,842) (202,132)
<br />Nonoperating revenues (expenses):
<br />Connection charges 978,235 1,167,045
<br />Interest income 280,208 147,214
<br />Miscellaneous revenue
<br />Interest expense (66,631) (130,661)
<br />Bond issuance costs (3,027) (20,281 )
<br />Gain (loss) on sale of capital assets (14,426)
<br />Total nonoperating revenues (expenses) 1,188,785 1,148,891
<br />Income before contributions and transfers 886,943 946,759
<br />Capital contributions 1,134,740 556,429
<br />Transfers in
<br />Transfers out (272,175) (33,030)
<br />Change in net assets 1,749,508 1,470,158
<br />Total net assets - January I 24,711,004 23,240,846
<br />Total net assets - December 31 $ 26,460,512 $ 24,711,004
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