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CITY OF ELK RIVER,MINNESOTA
<br /> CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
<br /> LAST TEN FISCAL YEARS
<br /> (modified accrual basis of accounting)
<br /> Fiscal Year
<br /> 2003 2004 2005 2006
<br /> Revenues
<br /> Property taxes $ 6,507,578 $ 7,118,568 $ 8,283,983 $ 9,529,773
<br /> Other taxes - - - -
<br /> Licenses and permits 1,143,612 1,249,844 1,240,336 1,207,368
<br /> Intergovernmental revenue 2,141,277 1,544,485 1,979,405 4,142,937
<br /> Charges for services 2,042,391 2,381,670 2,571,767 2,485,464
<br /> Fines and forfeits 190,911 164,800 190,062 175,155
<br /> Special assessments 2,433,939 2,375,902 3,414,090 1,566,880
<br /> Interest 304,237 375,548 758,612 1,151,144
<br /> Miscellaneous 2,159,373 1,799,736 2,004,286 2,555,842
<br /> Total revenues 16,923,318 17,010,553 20,442,541 22,814,563
<br /> Expenditures
<br /> General government 2,265,779 2,161,356 2,204,626 2,251,111
<br /> Public safety 4,145,996 4,163,345 4,649,010 4,941,706
<br /> Public works 1,814,818 1,850,281 2,192,336 2,538,658
<br /> Culture and recreation 1,635,806 1,655,298 2,088,505 2,605,861
<br /> Economic development 649,463 703,591 785,584 627,467
<br /> Capital outlay 8,389,740 2,997,696 4,191,817 10,729,882
<br /> Debt service
<br /> Principal 2,355,800 2,494,483 2,174,266 7,051,836
<br /> Interest and service charges 1,102,548 965,984 881,305 909,904
<br /> Total expenditures 22,359,950 16,992,034 19,167,449 31,656,425
<br /> f
<br /> Excess(deficiency)of revenues
<br /> over(under)expenditures (5,436,632) 18,519 1,275,092 (8,841,862)
<br /> Other financing sources(uses)
<br /> Transfers in 4,654,396 4,666,581 2,888,975 5,923,474
<br /> Transfers out (4,003,800) (3,799,765) (2,211,459) (5,014,648)
<br /> Proceeds of long-term debt 1,612,100 331,000 1,715,000 3,657,000
<br /> Payment to refunded bond escrow agent - - - -
<br /> Premium on long-term debt issued - - - -
<br /> Discount on long-term debt issued (5,566) - (8,560) (29,252)
<br /> Capital leases issued - - - 2,332,694
<br /> Sale of capital assets 34,562 9,180 718,166 17,439
<br /> Total other financing sources(uses) 2,291,692 1,206,996 3,102,122 6,886,707
<br /> Net change in fund balances $ (3,144,940) $ 1,225,515 $ 4,377,214 L(1,955,155)
<br /> Debt service as a percentage of
<br /> noncapital expenditures' 25.3% 24.1% 21.0% 37.1%
<br /> i
<br /> 95
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