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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 />D. Interfund Receivables, Payables, and Transfers <br />The composition of interfund balances as of December 31, 2015 is as follows: <br />Due to/from other funds <br />Receivable Fund <br />General <br />General <br />General <br />Pavement Management <br />Garbage <br />Sewer <br />Storm Water <br />Sewer <br />Water <br />Water <br />Nonmajor governmental funds <br />Nonmajor governmental funds <br />Nonmajor governmental funds <br />Total <br />Payable Fund Amount <br />Electric <br />$ 77,165 <br />Water <br />23,034 <br />Nonmajor governmental funds <br />12,815 <br />Electric <br />207,294 <br />Electric <br />108,523 <br />Electric <br />148,886 <br />Electric <br />35,109 <br />TIF Districts <br />171,800 <br />TIF Districts <br />128,850 <br />Nonmajor governmental funds <br />95,142 <br />TIF Districts <br />1,073,174 <br />Electric <br />72,436 <br />Nonmajor governmental funds <br />1,231 <br />$ 2,155,459 <br />The interfund receivable/payable balances result from the distribution of utility collections and the lending/borrowing <br />arrangements between funds for operating or capital purposes. <br />Due to/from component unit <br />Receivable Entity Payable Entity <br />Primary government - General Fund <br />Component unit - HRA <br />Component unit - HRA <br />Primary government - TIF Districts <br />Amount <br />$ 7,656 <br />222,929 <br />The outstanding balance between the primary government and the component unit represents the transfer for administrative <br />services and the lendingiborrowing arrangement to finance construction costs. The $222,929 payable to the HRA will be paid <br />with the collection of tax increment revenue and will not be repaid within one year. <br />-67- <br />