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EXHIBIT E-17
<br />CITY OF ELK RIVER, MINNESOTA
<br />ELECTRIC FUND
<br />COMPARATIVE STATEMENTS OF REVENUE, EXPENSES
<br />AND CHANGES IN RETAINED EARNINGS
<br />YEARS ENDED DECEMBER 31, 2000 AND 1999
<br />Charges for services
<br />$ 9,389,846
<br />$ 8,902,004
<br />OPERATING EXPENSES
<br />Personal services
<br />828,615
<br />773,579
<br />Professional services
<br />67,275
<br />71,195
<br />Purchased power
<br />5,497,606
<br />4,863,987
<br />Utilities
<br />48,996
<br />42,000
<br />Maintenance and repairs
<br />612,087
<br />547,662
<br />Insurance
<br />53,081
<br />95,070
<br />Depreciation
<br />812,124
<br />739,411
<br />Supplies and miscellaneous
<br />349,005
<br />347,901
<br />TOTAL OPERATING EXPENSES
<br />8,268,789
<br />7,480,805
<br />OPERATING INCOME
<br />1,121,057
<br />1,421,199
<br />NONOPERATING REVENUE (EXPENSES)
<br />Interest income
<br />95,256
<br />72,155
<br />Connection charges
<br />459,195
<br />316,600
<br />Customer penalties
<br />71,916
<br />71,969
<br />Miscellaneous revenue
<br />15,077
<br />25,452
<br />Interest expense
<br />(12,741)
<br />(16,023)
<br />Amortization of bond discount
<br />(341)
<br />(341)
<br />Loss on disposal of fixed assets
<br />(25,690)
<br />-
<br />Miscellaneous expense
<br />(6,449)
<br />(17,191)
<br />TOTAL NONOPERATING REVENUE (EXPENSES)
<br />596,223
<br />452,621
<br />INCOME BEFORE TRANSFERS
<br />1,717,280
<br />1,873,820
<br />OPERATING TRANSFERS OUT
<br />(230,914)
<br />(221,974)
<br />NET INCOME
<br />1,486,366
<br />1,651,846
<br />RETAINED EARNINGS, JANUARY 1
<br />12,005,709
<br />10,353,863
<br />RETAINED EARNINGS, DECEMBER 31
<br />$ 13,492,075
<br />$ 12,005,7091
<br />84
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