Laserfiche WebLink
1 <br />Business-type activities. Business-type activities increased the City of Elk River's net assets by $4,032,330, which <br />accounts for 71 percent of the total growth in the net assets of the City. Key elements of this increase are as follows: <br />• Charges for services for business-type activities totaled $30,677,D 15. The electric utility accounts for 65% of the <br />total. Overall charges for services increased $3,397,028 or 12% when compared to 2006. This increase was due <br />mainly to customer growth and rate increases. <br />• As a result of the decrease in construction this year, connection fees were down $338,884 and contributed <br />infrastructure was down $1,450,734. <br />• Investment income increased by $51,666 due to market rate conditions. <br />• The increase in operating expenses resulted primarily from the increase in purchased power for the electric utility <br />of $1,917,6 19 or 19 percent and the remaining increase was due to normal intlationazy increases. <br />Below are graphs showing the business-type activities revenue and expense comparisons. <br />Expenses and Program Revenues -Business-type Activities <br />$20,000,000 <br />$15,OOQ000 <br />$10,D00,000 <br />$s,DOa,DDD <br />$- <br />Municipalliquor Gazbage Sewzr Water );lectrie <br />^ Revenue ^ Expense <br />Revenues by Source -Business-type Activities <br />Unrestricted <br />investment earni <br />1.91 % <br />Capital grants and <br />contributions <br />5.94% <br />Operating grants and <br />contributions <br />0.88 <br />Charges for services <br />91.27°/n <br />IS <br />LJ <br />1 <br /> <br /> <br /> <br /> <br /> <br />L <br />C <br />C <br />C <br /> <br />1 <br />~i~ <br />1 <br /> <br /> <br /> <br />