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Elk River Municipal Utilities
<br />Apri19, 2009
<br />Page 8
<br />Water Fund
<br />The results of the Water fund are as follows:
<br />Water Operations Summary
<br />2006 2007 2008
<br /> Amount Percent Amount Percent Amount Percent
<br />Operating revenues $ 1,749,932 100 % $ 2,113,166 100 % $ 2,109,014 100
<br />Operating expenses 1,860,439 106 2,112,796 100 2,160,261 102
<br />Operating loss (110,507) (6) 370 - (51,247) (2)
<br />Nonoperating revenues 894,835 51 472,208 22 25,985 1
<br />Income (loss)
<br />before transfers 784,328 45 472,578 22 (25,262) (1)
<br />Contributions from
<br />developers 838,674 48 292,965 14 - -
<br />Transfer to City (31,018) (2) (20,000) (1) (20,000) (1)
<br />Change in net assets $ 1,591,984 91 % $ 745,543 35 % $ (45,262) (2)
<br />Cash and investments $ 2,519,224 $ 2,394,387 $ 1,935,458
<br />Bonds payable $ 5,762,576 $ 5,337,576 $ 5,066,198
<br />* Net of $2,575,000 advance refunding of 2001A bonds. Refer to note 2C of financial statements for additional information
<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 />$1,000,000 '
<br />:_
<br />$-
<br />$(1,000,000)
<br />2006 2007 2008
<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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