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Financial Results <br />Water and Sewer Enterprise Fund: <br />–Sewer operations for the past five years are as follows: <br />Financial Results <br />Liquor Fund: <br />2020 operating income was $383,739 <br />$250,000 transferred to the General Fund <br />$60,000 increase in cash balance <br />Sales $7,015,974 100.0% $6,160,868 100.0% <br />Cost of sales 5,252,004 74.9%4,614,845 74.9% <br />Gross margin 1,763,970 25.1%1,546,023 25.1% <br />Operating expenses 1,380,231 19.7%1,272,302 20.7% <br />Income from operations 383,739 5.5%273,721 4.4% <br />Investment income & other 22,621 0.3%20,585 0.3% <br />Transfers out (250,000) -3.6%(250,000) -4.1% <br />Net income 156,360 2.2%44,306 0.7% <br />2020 2019 <br />28