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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, 2014
<br />EXPENDITURES
<br />Current:
<br />General government
<br />3,033,392
<br />-
<br />-
<br />Other
<br />Total
<br />Public safety
<br />General
<br />YMCA
<br />-
<br />Governmental
<br />Governmental
<br />Public works
<br />Fund
<br />Bonds
<br />TIF Districts
<br />Funds
<br />Funds
<br />REVENUES
<br />11810,291
<br />-
<br />-
<br />1,071,694
<br />21881,985
<br />Taxes:
<br />-
<br />-
<br />345,591
<br />749,944
<br />1,095,535
<br />Property taxes
<br />$ 9,264,608
<br />$ 264,472
<br />$ 130,324
<br />$ 980,847
<br />$ 10,640,251
<br />Othertaxes
<br />126,765
<br />-
<br />-
<br />1,314,494
<br />11441,259
<br />Licenses and permits
<br />559,286
<br />-
<br />-
<br />-
<br />559,286
<br />Intergovernmental revenue
<br />286,851
<br />-
<br />-
<br />551,722
<br />838,573
<br />Charges for services
<br />816,556
<br />-
<br />-
<br />1,274,551
<br />2,091,107
<br />Fines and forfeits
<br />128,131
<br />-
<br />-
<br />32,167
<br />160,298
<br />Special assessments
<br />-
<br />-
<br />-
<br />881,271
<br />881,271
<br />Interest income
<br />48,957
<br />92,953
<br />4,774
<br />999,778
<br />1,146,462
<br />Miscellaneous:
<br />12,574,565
<br />971,914
<br />345,591
<br />7,068,460
<br />20,960,530
<br />Landfill expansion fee
<br />-
<br />-
<br />-
<br />757,960
<br />757,960
<br />Refunds and reimbursements
<br />92,614
<br />-
<br />-
<br />117,207
<br />209,821
<br />Contributions
<br />26,919
<br />247,284
<br />-
<br />1,052,704
<br />1,326,907
<br />Other
<br />7,859
<br />56,162
<br />64,021
<br />Total revenues
<br />11,358 546
<br />604,709
<br />135,098
<br />8,018,863
<br />20,117,216
<br />EXPENDITURES
<br />Current:
<br />General government
<br />3,033,392
<br />-
<br />-
<br />148,155
<br />3,181,547
<br />Public safety
<br />5,790,772
<br />-
<br />-
<br />118,881
<br />5,909,653
<br />Public works
<br />1,929,210
<br />-
<br />-
<br />1,045,009
<br />2,974,219
<br />Culture and recreation
<br />11810,291
<br />-
<br />-
<br />1,071,694
<br />21881,985
<br />Economic development
<br />-
<br />-
<br />345,591
<br />749,944
<br />1,095,535
<br />Debt service:
<br />Principal
<br />-
<br />315,000
<br />-
<br />1,220,000
<br />1,535,000
<br />Interest and service charges
<br />-
<br />656,914
<br />-
<br />448,200
<br />1,105,114
<br />Capital outlay:
<br />General government
<br />10,900
<br />-
<br />-
<br />212,587
<br />223,487
<br />Public safety
<br />-
<br />-
<br />-
<br />310,166
<br />310,166
<br />Public works
<br />-
<br />-
<br />-
<br />1,436,684
<br />1,436,684
<br />Culture and recreation
<br />307,140
<br />307,140
<br />Total expenditures
<br />12,574,565
<br />971,914
<br />345,591
<br />7,068,460
<br />20,960,530
<br />Excess (deficiency) of revenues
<br />over expenditures
<br />(1,216,019)
<br />(367,205)
<br />(210,493)
<br />950,403
<br />(843,314)
<br />OTHER FINANCING SOURCES (USES)
<br />Transfers in
<br />1,625,550
<br />250,000
<br />-
<br />2,961,466
<br />4,837,016
<br />Transfers out
<br />(300,219)
<br />-
<br />-
<br />(3,204,774)
<br />(3,504,993)
<br />Sale of capital assets
<br />44,827
<br />44,827
<br />Total other financing sources (uses)
<br />1,325,331
<br />250,000
<br />(198,481)
<br />1,376,850
<br />Net change in fund balances
<br />109,312
<br />(117,205)
<br />(210,493)
<br />751,922
<br />533,536
<br />Fund balances - January 1
<br />61054,290
<br />10,128,625
<br />(1,039,866)
<br />23,336,622
<br />38,479,671
<br />Prior period adjustment
<br />362,655
<br />-23699,277
<br />362,655
<br />Fund balances, restated - January 1
<br />6,054,290
<br />10,128 625
<br />(1,039,866)
<br />38,842,326
<br />Fund balances - December 31
<br />$ 6,163,602
<br />$ 10,011,420
<br />S (1,250,359)
<br />$ 24,451,199
<br />$ 39,375,862
<br />The notes to the financial statements are an integral part of this statement.
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