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CITY OF ELK RIVER,MINNESOTA
<br /> STATEMENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES
<br /> GOVERNMENTALFUNDS
<br /> FOR THE YEAR ENDED DECEMBER 31,2013
<br /> Other Total
<br /> General YMCA Governmental Governmental
<br /> Fund Bonds TIF Districts Funds Funds
<br /> REVENUES
<br /> Taxes:
<br /> Property taxes $ 9,150,139 $ 258,300 $ 87,848 $ 1,433,842 $ 10,930,129
<br /> Other taxes 114,129 - - 714,983 829,112
<br /> Licenses and permits 513,779 513,779
<br /> Intergovernmental revenue 557,990 603,468 1,161,458
<br /> Charges for services 740,756 1,590 1,184,560 1,926,906
<br /> Fines and forfeits 122,985 40,496 163,481
<br /> Special assessments 764,006 764,006
<br /> Interest income 84,214 (52,673) 1,191 (696,495) (663,763)
<br /> Miscellaneous:
<br /> Landfill expansion fee - 807,851 807,851
<br /> Refunds and reimbursements 65,053 - 112,893 177,946
<br /> Contributions 14,667 245,743 - 673,381 933,791
<br /> Other 7,762 266,221 273,983
<br /> Total revenues 11,371,474 451,370 90,629 5,905,206 17,818,679
<br /> EXPENDITURES
<br /> Current:
<br /> General government 2,846,579 - 109,921 2,956,500
<br /> Public safety 5,468,765 28,728 5,497,493
<br /> Public works 2,279,059 520,953 2,800,012
<br /> Culture and recreation 1,619,679 1,033,138 2,652,817
<br /> Economic development - 356,850 1,300,072 1,656,922
<br /> Debt service:
<br /> Principal 300,000 1,894,000 2,194,000
<br /> Interest and service charges 544,016 585,556 I,129,572
<br /> Bond issuance costs 153,795 153,795
<br /> Capital outlay:
<br /> General government 41,310 109,438 150,748
<br /> Public safety 27,674 343,574 371,248
<br /> Public works 32,589 - 3,442,439 3,475,028
<br /> Culture and recreation 565,470 565,470
<br /> Economic development 680,695 - 680,695
<br /> Total expenditures 12,315,655 997,811 1,037,545 9,933,289 24,284,300
<br /> Excess(deficiency)of revenues
<br /> over expenditures (944,181) (546,441) (946,916) (4,028,083) (6,465,621)
<br /> OTHER FINANCING SOURCES(USES)
<br /> Transfers in 1,216,000 250,000 4,991,233 6,457,233
<br /> Transfers out (422,843) - (4,469,184) (4,892,027)
<br /> Refunding bonds issued 9,685,000 9,685,000
<br /> Premium on debt issued 341,700 341,700
<br /> Principal paid on refunded bonds (1,540,000) (1,540,000)
<br /> Sale of capital assets 686,407 686,407
<br /> Total other financing sources(uses) 793,157 10,276,700 (331,544) 10,738,313
<br /> Net change in fund balances (151,024) 9,730,259 (946,916) (4,359,627) 4,272,692
<br /> Fund balances-January 1 6,205,314 398,366 (92,950) 27,696,249 34,206,979
<br /> Fund balances-December 31 $ 6,054,290 $ 10,128,625 $ (1,039,866) $ 23,336,622 $ 38,479,671
<br /> The notes to the financial statements are an integral part of this statement.
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