Laserfiche WebLink
FOIN�0m, <br />CITY OFELK RIVER, MINNESOTA <br />COMBINED STATEMENT [>FREVENUE, EXPENSES, AND <br />CHANGES |NRETAINED EARNINGS <br />ALL PROPRIETARY FUND TYPES <br />YEAR ENDED DECEMBER 31.2U0O <br />See Notes tnFinancial Statements. <br />Enterprise <br />Funds <br />OPERATING REVENUE <br />Sales <br />3.788.040 <br />Less cost ofsales <br />2.846.326 <br />GROSS PROFIT <br />941.722 <br />Charges for services <br />11.709.778 <br />GROSS PROFIT AND CHARGES FOR SERVICES <br />12.651.500 <br />OPERATING EXPENSES <br />Personal services <br />1.419.208 <br />Professional and contractual services <br />901'285 <br />Purchased and generated power <br />5.497.606 <br />Utilities <br />269,888 <br />Maintenance and repairs <br />827.148 <br />|mnwmanoa <br />82.576 <br />Depreciation <br />1.392.008 <br />Supplies and miscellaneous <br />493.225 <br />TOTAL OPERATING EXPENSES <br />10.882.840 <br />OPERATING INCOME <br />1,768'580 <br />N<JNOPERAT|Nc3REVENUE (EXPENSES) <br />Interest income <br />468.159 <br />Connection charges <br />1.614.533 <br />Customer penalties <br />88.548 <br />Miscellaneous revenue <br />118.420 <br />Interest expense <br />(390.424) <br />Amortization ofbond discount <br />(8.088) <br />Loss ondisposal offixed assets <br />(41'122) <br />Miscellaneous expenses <br />(8'449) <br />TOTALNDNOPERAT|NG REVENUE (EXPENSES) <br />1.842,078 <br />INCOME BEFORE TRANSFERS <br />3.611.238 <br />OPERATING TRANSFERS OUT <br />(454.271) <br />NET INCOME <br />3.158.987 <br />RETAINED EARNINGS, JANUARY 1 <br />21.487.010 <br />RETAINED EARNINGS, DECEMBER 31 <br />$ 24,623,977 <br />See Notes tnFinancial Statements. <br />