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CITY OF ELK RIVER
<br /> NOTES TO BASIC FINANCIAL STATEMENTS
<br /> YEAR ENDING DECEMBER 31, 2016
<br /> NOTE 7 LONG-TERM DEBT(CONTINUED)
<br /> C. Future Minimum Debt Payments (Continued)
<br /> Primary Government-Business-Type Activities
<br /> G.O.Revenue Bonds Revenue Bonds Notes Payable
<br /> Year Endina December 31, Principal Interest Principal Interest Principal Interest
<br /> 2017 $ 725,000 $ 339,205 $ 630,000 $ 334,457 $ 195,216 $ -
<br /> 2018 750,000 320,103 640,000 307,425 198,252 -
<br /> 2019 760,000 299,795 635,000 286,375 200,916 -
<br /> 2020 785,000 278,803 665,000 264,925 203,952 -
<br /> 2021 810,000 256,875 680,000 242,675 206,616 -
<br /> 2022-2026 2,850,000 1,011,640 2,720,000 934,750 209,124 -
<br /> 2027-2031 2,670,000 645,298 2,810,000 618,056 - -
<br /> 2032-2035 2,480,000 174,842 3,175,000 240,169 - -
<br /> Totals $ 11,830,000 $ 3,326,561 $ 11,955,000 $ 3,228,832 $ 1,214,076 $ -
<br /> NOTE 8 FUND BALANCES
<br /> At December 31, 2016, a summary of the governmental fund balance classifications is as
<br /> follows:
<br /> Other
<br /> Pavement Governmental
<br /> General Fund YMCA Bonds Management Funds Total
<br /> Nonspendable
<br /> Prepaid Items $ 20,964 $ - $ $ 108,176 $ 129,140
<br /> Restricted for:
<br /> Debt Service - 9,775,782 1,064,753 10,840,535
<br /> Landfill Mitigation - 351,577 351,577
<br /> Economic Development 1,043,711 1,043,711
<br /> Law Enforcement - 9,856 9,856
<br /> Total Restricted $ $ 9,775,782 $ $ 2,469,897 $ 12,245,679
<br /> Committed for:
<br /> Library Operations - 428,065 428,065
<br /> Ice Arena 475,875 475,875
<br /> Economic Development 4,405,478 4,405,478
<br /> Insurance Reserve 128,808 128,808
<br /> Street Improvements 3,811,788 - 3,811,788
<br /> Total Committed $ $ $ 3,811,788 $ 5,438,226 $ 9,250,014
<br /> Assigned for:
<br /> Landfill Mitigation - 784,017 784,017
<br /> Law Enforcement 1,956 1,956
<br /> Economic Development 552,473 552,473
<br /> Capital Equipment 266,832 1,802,898 2,069,730
<br /> Building Construction/Improvements - 1,966,631 1,966,631
<br /> Street Improvements 1,165,148 1,165,148
<br /> Other Improvement Projects 5,941,024 5,941,024
<br /> Park Improvements - 418,801 418,801
<br /> Total Assigned $ 266,832 $ $ $ 12,632,948 $ 12,899,780
<br /> (57)
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