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ELK RIVER MUNICIPAL UTILITIES <br /> ELK RIVER,MINNESOTA <br /> NOTES TO THE FINANCIAL STATEMENTS <br /> DECEMBER 31,2014 <br /> Note 2: DETAILED NOTES ON ALL FUNDS-CONTINUED <br /> D. Interfund receivables,payables and transfers <br /> The composition of interfund balances at year end is as follows: <br /> Receivable Fund Payable Fund Amount Purpose <br /> Electric City-General fund $ 1,560 Sales tax/franchise fees <br /> Electric City-Nonmajor 70 Sales tax/franchise fees <br /> Electric City-Nonmajor 845 Supplies <br /> Electric City-Sewer 560 4th quarter billings <br /> Electric City-Garbage 3,499 4th quarter billings <br /> Electric City-General fund 1,756 PERA aid <br /> Total Electric fund receivable from City 8,290 <br /> Water City-Nonmajor 329,490 Watermain project <br /> Water City-General fund 439 PERA aid <br /> Water City-Capital projects fund 128,850 TIF 22 Water Access Charge <br /> Total Water fund receivable from City 458,779 <br /> Total receivable from City $ 467,069 <br /> City-General fund Electric $ 73,449 Shared costs <br /> City-Nonmajor Electric 59,872 December transfer of 3%of revenue <br /> City-Nonmajor Electric 229,017 4th quarter franchise fees <br /> City-Sewer Electric 147,820 Billed sewer on behalf of City <br /> City-Garbage Electric 101,922 Billed garbage on behalf of City <br /> Total Electric fund payable to City 612,080 <br /> City-General fund Water 17,951 Shared costs <br /> Total payable to City $ 630,031 <br /> Interfund transfers completed in 2014 are detailed as follows: <br /> Transfer from Transfer to <br /> Other Other <br /> Transfer out City Funds City Funds <br /> Electric $ - $ 797,835 <br /> Water 329,490 25,000 <br /> Total transfers out $ 329,490 $ 822,835 <br /> The transfer out of the Electric fund was the annual transfer of 3 percent of 2014 revenues to City funds.The transfer out <br /> of the Water fund was for its share of bonding.The transfer into the Water fund was for reimbursement related to the <br /> watermain project. <br /> 91 <br />