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Elk River Municipal Utilities
<br />April 7, 2008
<br />Page 8
<br />Water Fund
<br />The results of the Water fund are as follows:
<br />Water Operations Summary
<br /> 2005 2006 2007
<br /> Amount Percent Amount Percent Amount Percent
<br />Operating revenues $ 1,347,542 100 % $ 1,749,932 100 % $ 2,113,166 100
<br />Operating expenses 1,828,489 136 1,860,439 106 2,112,796 100
<br />Operating loss (480,947) (36) (110,507) (6) 370 -
<br />Nonoperatingrevenues 674,858 50 894,835 51 472,208 22
<br />Income before transfers 193,911 14 784,328 45 472,578 22
<br />Contributions from
<br />developers 533,038 40 838,674 48 292,965 14
<br />Transfer to City (25,739) (2) (31,018) (2) (20,000) (1)
<br />Change in net assets $ 752,688 52 % $ 1,654,020 91 % $ 785,543 35
<br />Cash and investments $ 1,754,023 $ 2,519,224 $ 2,394,387
<br />Bonds payable $ 6,146,250 $ 5,736,250 $ 5,311,250
<br />$7,000,000
<br />$6,000,000
<br />$5,000,000
<br />$4,000,000
<br />$3,000,000
<br />$2,000,000
<br />$1,000,000
<br />$-
<br />2005 2006 2007
<br />^ Operating revenues ^ Operating expenses ^ Cash ^ Bonds ^ Change in net assets
<br />952.835.9090 Fax 952.835.3261
<br />www.aemcpas.com
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