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<br />' CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
<br />GOVERNMENTAL FUNDS
<br />FOR THE YEAR ENDED DECEMBER 31, 2009
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<br />REVENUES
<br />Taxes:
<br />Other Total
<br />General Street Improvement Govemmental Governmental
<br />Fund Improvements Projects Funds Funds
<br /> Property taxes $ 9,072,965 $ 16,542 $ 50,948 $ 3,188,739 $ 12,329,194
<br />' Other taxes
<br />Licenses and permits 156,894
<br />322,338 - - - 156,894
<br />322,338
<br /> Intergovernmental revenue 922,988 1,237,368 1,747 955,894 3,117,997
<br /> Charges for services 537,674 - 2,591 925,633 1,465,898
<br /> Fines and forfeits 127,642 - - 13,987 141,629
<br /> Special assessments - 626,853 406,121 431,374 1,464,348
<br />' Interest income 90,730 102,920 75,321 279,680 548,651
<br /> Miscellaneous:
<br /> Landfill host fee - 139,283 - 789,273 928,556
<br /> Refunds and reimbursements 60,888 - - 93,197 154,085
<br />' Other 29,290 600 741,435 771,325
<br /> Total revenues 11,321,409 2,123,566 536,728 7,419,212 21,400,915
<br />' EXPENDITURES
<br />Current:
<br /> General govemment 2,379,939 78,940 2,458,879
<br /> Public safety 5,174,528 - - 202,680 5,377,208
<br /> Public works 1,743,227 655,740 24,924 232,206 2,656,097
<br /> Culture and recreation 1,616,712 - - 1,049,434 2,666,146
<br />' Economic development 1,589,464 1,589,464
<br /> Debt service:
<br /> Principal - - - 3,162,117 3,162,1]7
<br /> Interest and service charges - - - 1,289,087 1,289,087
<br />' Capital outlay:
<br /> General government 41,360 81,665 123,025
<br /> Public safety 57,599 - - 120,002 177,601
<br />' Public works
<br />Culture and recreation 6,127 - = 267,718
<br />411,728 273,845
<br />411,728
<br /> Infrastructure/development projects 3,319,619 321,504 3,641,123
<br /> Total expenditures 11,019,492 3,975,359 346,428 8,485,041 23,826,320
<br />' Excess (deficiency) ofrevenues over (under) expenditures 301,917 (1,851,793) 190,300 (1,065,829) (2,425,405)
<br /> OTHER FINANCING SOURCES (USES)
<br /> Transfers in 590,100 2],343 113,786 2,162,395 2,887,624
<br /> Transfers out (383,104) - (21,343) (1,438,175} (1,842,622)
<br />' Issuance of debt 2,074,311 2,074,311
<br /> Sale of capital assets - - - 16,629 16,629
<br /> Total other financing sources (uses) 206,996 2,095,654 92,443 740,849 3,135,942
<br />' Net change in fund balances 508,913 243,861 282,743 (324,980) 710,537
<br /> Fund balances -January 1 5,190,662 4,976,353 3,837,325 15,465,506 29,469,846
<br />' Fund balances -December 31 $ 5,699,575 $ 5,220,214 $ 4,120,068 $ 15,140,526 $ 30, 180,383
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<br />The notes to the fmancial statements are an integral part of this statement.
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