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<br />CITY OF ELK RIVER, MINNESOTA
<br />GENERAL FUND
<br />STATEMENT OF REVENUES, EXPENDITURES,
<br />AND CHANGES IN FUND BALANCE -BUDGET AND ACTUAL
<br />YEAR ENDED DECEMBER 31, 2010
<br /> Budget Variance with
<br /> Original Final Actual Final Budget
<br />REVENUES
<br />Taxes:
<br />Property taxes $ 9,467,850 $ 9,467,850 $ 9,377,409 $ (90,441)
<br />Other taxes 135,000 266,111 193,466 (72,645)
<br />Licenses and permits 299,050 369,050 402,076 33,026
<br />Intergovernmental revenue 288,900 338,900 348,073 9,173
<br />Charges for services 540,700 488,050 533,476 45,426
<br />Fines and forfeits 135,000 135,000 132,968 (2,032)
<br />Interest income 160,000 160,000 62,779 (97,221)
<br />Miscellaneous revenue:
<br />Refunds and reimbursements 72,000 72,000 66,625 (5,375)
<br />Other 25,200 25,200 30,583 5,383
<br />Total revenues 11,123,700 11,322,161 11,147,455 (174,706)
<br />EXPENDITURES
<br />Current:
<br />General government 2,649,500 2,693,750 2,480,825 212,925
<br />Public safety 5,355,700 5,355,700 5,258,550 97,150
<br />Public works 1,894,300 1,894,300 1,777,912 1 16,388
<br />Culture and recreation 1,640,650 1,647,750 1,596,267 51,483
<br />Capital outlay:
<br />General government 70,900 70,900 69,754 1,146
<br />Public safety 11,400 11,400 10,303 1,097
<br />Public works 8,300 8,300 3,741 4,559
<br />Total expenditures 11,630,750 11,682,100 11,197,352 484,748
<br />
<br />Excess (deficiency) of revenues
<br />over (under)expenditures (507,050) (359,939) (49,897) 310,042
<br />
<br />OTHER FINANCING SOURCES (USES)
<br />Transfers in 596,100 596,100 596,100 -
<br />Transfers out (414,050) (414,050) (380,337) 33,713
<br />Total other financing sources (uses) 182,050 182,050 215,763 33,713
<br />
<br />Net change in fund balance (325,000) (177,889) 165,866 343,755
<br />Fund balance -January 1 5,840,599 5,840,599 5,840,599 -
<br />Fund balance -December 31 $ 5,515,599 $ 5,662,7]0 $ 6,006,465 $ 343,755
<br />The notes to the financial statements are an integral part of this statement.
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