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ELK RIVER MUNICIPAL UTILITIES <br /> ELK RIVER,MINNESOTA <br /> NOTES TO THE FINANCIAL STATEMENTS <br /> DECEMBER 31,2015 <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 $ 1,710 Sales tax/franchise fees <br /> Electric City-Nonmajor 70 Sales tax/franchise fees <br /> Electric City-Nonmajor 1,910 Supplies <br /> Electric City-Sewer 1,003 4th quarter billings <br /> Electric City-Garbage 1,809 4th quarter billings <br /> Electric City-Storm Water 1,762 4th quarter billings <br /> Electric City-General fund 1,756 PERA aid <br /> Total Electric fund receivable from City 10,020 <br /> Water City-Nonmajor 94,703 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 223,992 <br /> Total receivable from City $ 234,012 <br /> City-General fund Electric $ 81,070 Shared costs <br /> City-Nonmajor Electric 12,541 Shared costs <br /> City-Nonmajor Electric 61,437 December transfer of 3%of revenue <br /> City-Nonmajor Electric 207,294 4th quarter franchise fees <br /> City-Sewer Electric 149,888 Billed sewer on behalf of City <br /> City-Garbage Electric 110,332 Billed garbage on behalf of City <br /> City-Stormwater Electric 36,871 Billed stormwater on behalf of City <br /> Total Electric fund payable to City 659,433 <br /> City-General fund Water 23,034 Shared costs <br /> Total payable to City $ 682,467 <br /> Interfund transfers completed in 2015 are detailed as follows: <br /> Transfer from Transfer to <br /> Other Other <br /> Transfer out City Funds City Funds <br /> Electric $ - $ 824,743 <br /> Water 94,703 30,000 <br /> Total transfers out $ 94,703 $ 854,743 <br /> The transfer out of the Electric fund was the annual transfer of 3 percent of 2015 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 /> 137 <br />