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CITY OF ELK RIVER, MINNESOTA
<br /> SUBCOMBINING STATEMENT OF REVENUES, EXPENDITURES,
<br /> AND CHANGES IN FUND BALANCES
<br /> NONMAJOR DEBT SERVICE FUNDS
<br /> FOR THE YEAR ENDED DECEMBER 31, 2013
<br /> Government Total Nonmajor
<br /> Improvement Building MPFA Debt Service
<br /> Bonds Bonds Loan Funds
<br /> REVENUES
<br /> Property taxes $ 225,828 $ 358,814 $ $ 584,642
<br /> Intergovernmental revenue - - 502,271 502,271
<br /> Special assessments 202,457 - 202,457
<br /> Interest income 5,316 6,635 11,951
<br /> Miscellaneous revenue:
<br /> Refunds and reimbursements 500 - 500
<br /> Total revenues 433,601 365,949 502,271 1,301,821
<br /> EXPENDITURES
<br /> Debt service:
<br /> Principal 850,000 545,000 499,000 1,894,000
<br /> Interest and service charges 87,268 476,482 6,542 570,292
<br /> Total expenditures 937,268 1,021,482 505,542 2,464,292
<br /> Deficiency of revenues over expenditures (503,667) (655,533) (3,271) (1,162,471)
<br /> OTHER FINANCING SOURCES(USES)
<br /> Transfers in 275,799 554,396 - 830,195
<br /> Principal paid on refunded bonds (1,540,000) - - (1,540,000)
<br /> Total other financing sources(uses) (1,264,201) 554,396 - (709,805)
<br /> Net change in farad balances (1,767,868) (101,137) (3,271) (1,872,276)
<br /> Fund balances-January 1 2,222,529 807,712 3,271 3,033,512
<br /> Fund balances-December 31 $ 454,661 $ 706,575 $ - $ 1,161,236
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