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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, 2011
<br />The notes to the financial statements are an integral part of this statement.
<br />25
<br />Other
<br />Total
<br />General
<br />Improvement
<br />Governmental
<br />Governmental
<br />Fund
<br />Projects
<br />Funds
<br />Funds
<br />REVENUES
<br />Taxes:
<br />Property taxes
<br />$ 9,577,099
<br />$ 50,437
<br />$ 2,833,867
<br />$ 12,461,403
<br />Other taxes
<br />83,748
<br />-
<br />-
<br />83,748
<br />Licenses and permits
<br />432,875
<br />-
<br />-
<br />432,875
<br />Intergovernmental revenue
<br />535,084
<br />-
<br />1,143,471
<br />1,678,555
<br />Charges for services
<br />594,877
<br />2,643
<br />975,847
<br />1,573,367
<br />Fines and forfeits
<br />126,832
<br />-
<br />22,270
<br />149,102
<br />Special assessments
<br />-
<br />208,048
<br />781,053
<br />989,101
<br />Interest income
<br />91,696
<br />69,027
<br />338,311
<br />499,034
<br />Miscellaneous:
<br />Landfill host fee
<br />-
<br />-
<br />896,904
<br />896,904
<br />Refunds and reimbursements
<br />79,219
<br />211,467
<br />290,686
<br />Other
<br />27,217
<br />-
<br />1,353,352
<br />1,380,569
<br />Total revenues
<br />11,548,647
<br />330,155
<br />8,556,542
<br />20,435,344
<br />EXPENDITURES
<br />Current:
<br />General government
<br />2,536,399
<br />-
<br />620,908
<br />3,157,307
<br />Public safety
<br />5,255,608
<br />-
<br />36,009
<br />5,291,617
<br />Public works
<br />2,062,508
<br />60,993
<br />628,968
<br />2,752,469
<br />Culture and recreation
<br />1,655,757
<br />-
<br />1,008,049
<br />2,663,806
<br />Economic development
<br />-
<br />-
<br />1,479,140
<br />1,479,140
<br />Debt service:
<br />Principal
<br />-
<br />-
<br />2,618,146
<br />2,618,146
<br />Interest and service charges
<br />-
<br />-
<br />1,059,804
<br />1,059,804
<br />Capital outlay:
<br />General government
<br />18,771
<br />-
<br />-
<br />18,771
<br />Public safety
<br />100,791
<br />-
<br />208,546
<br />309,337
<br />Public works
<br />-
<br />-
<br />1,148,808
<br />1,148,808
<br />Culture and recreation
<br />-
<br />-
<br />312,118
<br />312,118
<br />Infrastructure /development projects
<br />-
<br />-
<br />1,085,178
<br />1,085,178
<br />Total expenditures
<br />11,629,834
<br />60,993
<br />10,205,674
<br />21,896,501
<br />Excess (deficiency) of revenues
<br />over (under) expenditures
<br />(81,187)
<br />269,162
<br />(1,649,132)
<br />(1,461,157)
<br />OTHER FINANCING SOURCES (USES)
<br />Transfers in
<br />769,500
<br />40,000
<br />5,169,405
<br />5,978,905
<br />Transfers out
<br />(397,166)
<br />(312,823)
<br />(1,658,062)
<br />(2,368,051)
<br />Sale of capital assets
<br />-
<br />-
<br />23,233
<br />23,233
<br />Total other financing sources (uses)
<br />372,334
<br />(272,823)
<br />3,534,576
<br />3,634,087
<br />Net change in fund balances
<br />291,147
<br />(3,661)
<br />1,885,444
<br />2,172,930
<br />Fund balances - January 1
<br />6,006,465
<br />4,431,050
<br />21,077,198
<br />31,514,713
<br />Fund balances - December 31
<br />$ 6,297,612
<br />$ 4,427,389
<br />$ 22,962,642
<br />$ 33,687,643
<br />The notes to the financial statements are an integral part of this statement.
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