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CITY OF ELK RIVER, MINNESOTA
<br />WATER FUND
<br />COMPARATIVE STATEMENTS OF REVENUE, EXPENSES
<br />AND CHANGES IN RETAINED EARNINGS
<br />YEARS ENDED DECEMBER 31, 2000 AND 1999
<br />nnnn
<br />`+ r
<br />4 nnn
<br />Charges for services
<br />$ 755,462
<br />$ 627,449
<br />OPERATING EXPENSES'
<br />524,695
<br />433,571
<br />Personal services
<br />99,224
<br />86,218
<br />Professional services
<br />23,448
<br />13,446
<br />Utilities
<br />128,512
<br />96,521
<br />Maintenance and repairs
<br />132,783
<br />78,298
<br />Insurance
<br />16,808
<br />16,014
<br />Depreciation
<br />185,266
<br />163,423
<br />Supplies and miscellaneous
<br />29,001
<br />35,352
<br />TOTAL OPERATING EXPENSES
<br />615,042
<br />489,272
<br />OPERATING INCOME
<br />140,420
<br />138,177
<br />NONOPERATING REVENUE (EXPENSES)
<br />Interest income
<br />83,375
<br />98,406
<br />Connection charges
<br />524,695
<br />433,571
<br />Customer penalties
<br />6,702
<br />5,928
<br />Miscellaneous revenue
<br />46
<br />-
<br />Interest expense
<br />(131,158)
<br />(138,987)
<br />Amortization of bond discount
<br />(5,631)
<br />(5,293)
<br />Miscellaneous expense
<br />-
<br />(1,456)
<br />TOTAL NONOPERATING REVENUE (EXPENSES)
<br />478„029
<br />392,169
<br />INCOME BEFORE TRANSFERS
<br />618,449
<br />530,346
<br />OPERATING TRANSFERS OUT
<br />(56,621)
<br />(607,347)
<br />NET INCOME (LOSS)
<br />561,828
<br />(77,001)
<br />RETAINED EARNINGS, JANUARY 1
<br />3,101,323
<br />3,178,324
<br />RETAINED EARNINGS, DECEM'B'ER 31
<br />$ 3,663,151
<br />$ 3,101,323
<br />80
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