|
City of Elk River
<br />March 15, 2001
<br />Page Nine
<br />Municipal Liquor
<br />All significant areas of operations have showed improvement over the past three years. The current gross profit percentage
<br />and operating income percentage are excellent compared with other Cities we see.
<br />Sewage Disposal
<br />The cash balances and revenue currently appear adequate to fund operations and debt service. The current operating margins
<br />are reasonable. The majority of the net income and cash increase results from the significant connection fees collected. The
<br />connection fees help fund the expansion and provide resources for repayment of the bonds.
<br />Operating revenue
<br />Operating expenses
<br />Operating income
<br />Nonoperating revenue
<br />Transfers out
<br />Net income
<br />Cash balances
<br />Bonds payable
<br />Percent
<br />2000 of Revenue
<br />$ 877,655 100.0%
<br />756,869 86.2
<br />120,786 13.8
<br />637,878 72.7
<br />(20,336) 2.3
<br />738_328 84.2ZQ
<br />13A28 124
<br />1 0
<br />Percent
<br />Percent
<br />of Revenue
<br />Percent
<br />100.0%
<br />Percent
<br />86.8
<br />2000
<br />of Sales
<br />1999
<br />of Sales
<br />1998
<br />of Sales
<br />Sales
<br />$ 3,788,048
<br />100.0%
<br />$ 3,478,938
<br />100.0%
<br />$ 3,074,852
<br />100.0%
<br />Less cost of sales
<br />2,846,326
<br />75.1
<br />2,652,392
<br />76.2
<br />2,383,340
<br />77.5
<br />Gross profit
<br />941,722
<br />24.9
<br />826,546
<br />23.8
<br />691,512
<br />22.5
<br />Operating expenses
<br />451,197
<br />11.9
<br />431,835
<br />12.4
<br />455,045
<br />14.8
<br />Operating income
<br />490,525
<br />13.0
<br />394,711
<br />11.4
<br />236,467
<br />7.7
<br />Nonoperting income
<br />5,977
<br />.1
<br />(47,128)
<br />(1.3)
<br />35,014
<br />1.1
<br />Transfers out
<br />(146,400)
<br />(3.9)
<br />(141,250)
<br />(4.2)
<br />(131,651)
<br />(4.3)
<br />Net income
<br />$ 350,102
<br />9.20
<br />$ 206 333
<br />5.9%
<br />$ 139,830
<br />4.5
<br />Cash balances
<br />1,416.935
<br />$ 878,888
<br />$ 691,795
<br />Bonds payable
<br />1.000.000
<br />1.080.000
<br />1.155.000
<br />Sewage Disposal
<br />The cash balances and revenue currently appear adequate to fund operations and debt service. The current operating margins
<br />are reasonable. The majority of the net income and cash increase results from the significant connection fees collected. The
<br />connection fees help fund the expansion and provide resources for repayment of the bonds.
<br />Operating revenue
<br />Operating expenses
<br />Operating income
<br />Nonoperating revenue
<br />Transfers out
<br />Net income
<br />Cash balances
<br />Bonds payable
<br />Percent
<br />2000 of Revenue
<br />$ 877,655 100.0%
<br />756,869 86.2
<br />120,786 13.8
<br />637,878 72.7
<br />(20,336) 2.3
<br />738_328 84.2ZQ
<br />13A28 124
<br />1 0
<br />Percent
<br />1999
<br />of Revenue
<br />$ 797,101
<br />100.0%
<br />692,018
<br />86.8
<br />105,083
<br />13.2
<br />268,449
<br />33.7
<br />(8,000)
<br />1.0
<br />$ 365.532
<br />45.90
<br />2.634.965
<br />3.355.000
<br />Percent
<br />1998
<br />of Revenue
<br />$ 730,294
<br />100.0%
<br />702,774
<br />96.2
<br />27,520
<br />3.8
<br />321,615
<br />44.0
<br />(8,000)
<br />1.1
<br />$ 341,135
<br />46.7%
<br />2.256.923
<br />3.515.000
<br />
|