CITY OF BIG LAKE, MINNESOTA

MUNICIPAL LIQUOR FUND

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN NET POSITION

FOR THE YEAR ENDED DECEMBER 31, 2023

Sales and Cost of Sales:

Sales $ 5,445,460

Cost of Sales 3,929,412

GROSS PROFIT 1,516,048

Gross Profit as a Percentage of Sales 27.84%

Operating Expenses

Wages and Salaries454,447

Employee Benefits146,129

Materials and Supplies10,548

Repairs and Maintenance15,972

Professional Services120,951

Insurance14,656

Utilities and Refuse51,363

Depreciation72,719

Travel35

Equipment10,271

Advertising11,366

Dues, Memberships and Training16,422

Telephone8,235

Uniforms435

Postage376

Miscellaneous1,530

Total Operating Expenses935,455

Operating Income 580,593

Nonoperating Revenues (Expenses):

Investment Income 52,322

Other Income 1294

Total Nonoperating Revenues

(Expenses) 53,616

Income (Loss) Before Operating Transfers 634,209

Add: Operating Transfers In 

Less: Operating Transfers Out (450,000)

Net Income 184,209

Net Income as a Percentage of Sales 3.38%

Net Position, January 1 2,559,137

Net Position- December 31 $ 2,743,346

Note: The above financial information is unaudited as of the date of this publication.

(Published in the Patriot: 03/23/24.)