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7/2/2024 <br />6 <br />Financial Results <br />Water  and Sewer Enterprise Fund: <br />–Sewer operations for the past five years are as follows: <br />11 <br />Financial Results <br />Liquor Fund: <br />2023 operating income was $361,000 <br />$275,000 transferred to the General Fund <br />$106,000 increase in cash balance to $1.49M <br />12 <br />Sales $7,066,000 100.0% $7,041,000 100.0% <br />Cost of sales 5,247,000 74.3% 5,212,000 74.0% <br />Gross margin 1,819,000 25.7% 1,829,000 26.0% <br />Operating expenses 1,458,000 20.6% 1,352,000 19.2% <br />Income from operations 361,000 5.1% 477,000 6.8% <br />Investment income & other 65,000 0.9%(27,000) -0.4% <br />Transfers out (275,000) -3.9% (275,000) -3.9% <br />Net income 151,000 2.1% 175,000 2.5% <br />2023 2022 <br />60