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CITY OF ELK RIVER, MINNESOTA <br />NOTES TO THE FINANCIAL STATEMENTS <br />DECEMBER 31, 2015 <br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED <br />Interfund transfers <br />Governmental funds <br />Major funds - <br />General <br />YMCA bonds <br />Nonmajor funds <br />Total governmental funds <br />Proprietary funds <br />Municipal liquor <br />Garbage <br />Sewer <br />Storm Water <br />Water <br />Electric <br />Total proprietary funds <br />Total <br />Transfer In Transfer Out <br />$ 1,684,650 $ 251,150 <br />250,000 - <br />2,769,137 4,155,275 <br />4,703,787 4,406,425 <br />- 689,718 <br />35,584 43,950 <br />1,000,000 120,000 <br />280,762 - <br />94,703 30,000 <br />- 824,743 <br />1,411,049 1,708,411 <br />$ 6,114,836 $ 6,114,836 <br />Interfund transfers are used to allocate financial resources to the funds that receive benefit from services provided by another <br />fund, to provide additional capital funding, or to move revenues from the fund with collection authorization to debt service funds <br />as principal and interest payments come due. In addition, interfund transfers are occasionally authorized to allow redistribution of <br />resources between funds for the most efficient use of funds. <br />