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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 31,2012
<br /> Other Total
<br /> General Improvement Government Governmental Governmental
<br /> Fund Projects Buildings Funds Funds
<br /> REVENUES
<br /> Taxes:
<br /> Property taxes $ 9,184,258 $ 50,154 $ $ 2,485,899 $ 11,720,311
<br /> Other taxes 125,623 - - 125,623
<br /> Licenses and permits 408,232 - 408,232
<br /> Intergovernmental revenue 542,790 893,823 1,436,613
<br /> Charges for services 636,300 1,023,686 1,659,986
<br /> Fines and forfeits 121,047 - 16,772 137,819
<br /> Special assessments - 241,515 603,597 845,112
<br /> Interest income 56,346 45,338 51,006 166,964 319,654
<br /> Miscellaneous:
<br /> Landfill expansion fee - - 671,897 - 671,897
<br /> Refunds and reimbursements 60,217 - 136,951 197,168
<br /> Contributions 22,632 - 978,318 1,000,950
<br /> Other 4,960 - 19,689 85,543 110,192
<br /> Total revenues 11,162,405 337,007 742,592 6,391,553 18,633,557
<br /> EXPENDITURES
<br /> Current:
<br /> General government 2,490,127 28,921 96,534 2,615,582
<br /> Public safety 5,304,063 - 23,566 24,620 5,352,249
<br /> Public works 2,039,644 144,889 287,535 459,658 2,931,726
<br /> Culture and recreation 1,739,797 - 9,253 1,090,416 2,839,466
<br /> Economic development - - 1,087,467 1,087,467
<br /> Debt service:
<br /> Principal 2,127,000 2,127,000
<br /> Interest and service charges - 996,454 996,454
<br /> Bond issuance costs - 42,520 26,380 68,900
<br /> Capital outlay:
<br /> General government 15,292 - 371,722 387,014
<br /> Public safety 66,871 - 260,741 327,612
<br /> Public works 18,623 7,733,792 1,485,312 9,237,727
<br /> Culture and recreation - - 311,921 311,921
<br /> Total expenditures 11,674,417 144,889 8,125,587 8,338,225 28,283,118
<br /> Excess(deficiency)of revenues
<br /> over expenditures (512,012) 192,118 (7,382,995) (1,946,672) (9,649,561)
<br /> OTHER FINANCING SOURCES(USES)
<br /> Transfers in 1,024,500 40,000 3,728,443 4,792,943
<br /> Transfers out (604,786) (352,211) (619,040) (1,712,643) (3,288,680)
<br /> General obligation bonds issued 6,975,000 - 6,975,000
<br /> Refunding bonds issued - 1,525,000 1,525,000
<br /> Premium on debt issued 45,413 69,751 115,164
<br /> Sale of capital assets - - 49,470 49,470
<br /> Total other financing sources(uses) 419,714 (312,211) 6,401,373 3,660,021 10,168,897
<br /> Net change in fiord balances (92,298) (120,093) (981,622) 1,713,349 519,336
<br /> Fund balances-January 1 6,297,612 4,427,389 5,507,987 17,454,655 33,687,643
<br /> Fund balances-December 31 $ 6,205,314 $ 4,307,296 $ 4,526,365 $ 19,168,004 $ 34,206,979
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<br /> The notes to the financial statements are an integral part of this statement.
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