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CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
<br />GOVERNMENTAL FUNDS
<br />FOR THE YEAR ENDED DECEMBER 31, 2015
<br />EXCESS (DEFICIENCY) OF REVENUES
<br />OVER (UNDER) EXPENDITURES
<br />(1,032,304)
<br />YMCA
<br />(289,727)
<br />OTHER FINANCING SOURCES (USES)
<br />General
<br />Bonds
<br />TIF Districts
<br />REVENUES
<br />1,684,650
<br />250,000
<br />Taxes
<br />(251,150)
<br />-
<br />Property taxes
<br />$ 9,483,656
<br />$ 289,550
<br />$ 264,639
<br />Other taxes
<br />164,559
<br />-
<br />-
<br />Licenses and permits
<br />639,791
<br />-
<br />-
<br />Intergovernmental
<br />297,669
<br />-
<br />-
<br />Charges for services
<br />867,211
<br />-
<br />1,251
<br />Fines and forfeits
<br />153,344
<br />-
<br />-
<br />Special assessments
<br />-
<br />-
<br />-
<br />Interest income
<br />79,741
<br />69,012
<br />2,531
<br />Miscellaneous
<br />Landfill expansion fee
<br />-
<br />-
<br />-
<br />Refunds and reimbursements
<br />105,951
<br />-
<br />-
<br />Contributions
<br />22,505
<br />248,656
<br />-
<br />Other
<br />5,572
<br />-
<br />-
<br />TOTAL REVENUES
<br />11,819,999
<br />607,218
<br />268,421
<br />EXPENDITURES
<br />Current
<br />General government
<br />3,141,666
<br />-
<br />-
<br />Public safety
<br />6,060,771
<br />-
<br />-
<br />Public works
<br />1,827,323
<br />-
<br />-
<br />Culture and recreation
<br />1,822,543
<br />-
<br />-
<br />Economic development
<br />-
<br />-
<br />517,978
<br />Debt service
<br />Principal
<br />-
<br />330,000
<br />-
<br />Interest and service charges
<br />-
<br />644,380
<br />40,170
<br />Capital outlay
<br />General government
<br />-
<br />-
<br />-
<br />Public safety
<br />-
<br />-
<br />Public works
<br />-
<br />-
<br />Culture and recreation
<br />-
<br />-
<br />-
<br />Economic development
<br />-
<br />-
<br />-
<br />TOTAL EXPENDITURES
<br />12,852,303
<br />974,380
<br />558,148
<br />EXCESS (DEFICIENCY) OF REVENUES
<br />OVER (UNDER) EXPENDITURES
<br />(1,032,304)
<br />(367,162)
<br />(289,727)
<br />OTHER FINANCING SOURCES (USES)
<br />Transfers in
<br />1,684,650
<br />250,000
<br />Transfers out
<br />(251,150)
<br />-
<br />Sale of capital assets
<br />-
<br />-
<br />-
<br />TOTAL OTHER FINANCING SOURCES (USES)
<br />1,433,500
<br />250,000
<br />-
<br />NET CHANGE IN FUND BALANCES
<br />401,196
<br />(117,162)
<br />(289,727)
<br />FUND BALANCES, JANUARY 1
<br />6,163,602
<br />10,011,420
<br />(1,250,359)
<br />FUND BALANCES, DECEMBER 31
<br />$ 6,564,798
<br />$ 9,894,258
<br />$ (1,540,086)
<br />The notes to the financial statements are an integral part of this statement.
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