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113
<br />2008 2009 2010 2011
<br />Revenues
<br />Property taxes 12,037,076$ 12,329,194$ 12,355,953$ 12,461,403$
<br />Other taxes -156,894 193,466 83,748
<br />Licenses and permits 460,108 322,338 402,076 432,875
<br />Intergovernmental revenue 4,134,779 3,117,997 1,135,060 1,678,555
<br />Charges for services 1,849,307 1,465,898 1,727,276 1,573,367
<br />Fines and forfeits 150,086 141,629 161,074 149,102
<br />Special assessments 1,712,551 1,464,348 999,633 989,101
<br />Interest 1,215,053 548,651 359,731 499,034
<br />Miscellaneous 1,628,567 1,853,966 2,587,771 2,568,159
<br />Total revenues 23,187,527 21,400,915 19,922,040 20,435,344
<br />Expenditures
<br />General government 2,480,208 2,458,879 2,629,731 3,157,307
<br />Public safety 5,565,474 5,377,208 5,266,803 5,291,617
<br />Public works 3,246,436 2,656,097 2,291,196 2,752,469
<br />Culture and recreation 2,890,683 2,666,146 2,569,464 2,663,806
<br />Economic development 2,216,617 1,589,464 1,512,138 1,479,140
<br />Capital outlay 10,381,359 4,627,322 1,879,604 2,874,212
<br />Debt service
<br /> Principal 2,022,616 3,162,117 2,411,062 2,618,146
<br /> Interest and service charges 1,198,174 1,289,087 1,126,789 1,059,804
<br /> Bond issuance costs - - 56,204 -
<br />Total expenditures 30,001,567 23,826,320 19,742,991 21,896,501
<br />Excess (deficiency) of revenues
<br /> over (under) expenditures (6,814,040)(2,425,405)179,049 (1,461,157)
<br />Other financing sources (uses)
<br />Transfers in 3,868,359 2,887,624 2,682,562 5,978,905
<br />Transfers out (2,818,058) (1,842,622) (1,724,173) (2,368,051)
<br />Proceeds of long-term debt 2,277,946 2,074,311 6,184,243 -
<br />Premium on long-term debt issued 36,542 -255,238 -
<br />Payment to refunded bond escrow agent - - (6,303,897)-
<br />Sale of capital assets 84,379 16,629 61,308 23,233
<br />Total other financing sources (uses)3,449,168 3,135,942 1,155,281 3,634,087
<br />Net change in fund balances (3,364,872)$ 710,537$ 1,334,330$ 2,172,930$
<br />Debt service as a percentage of
<br /> noncapital expenditures1 16.9%23.7%19.8%19.6%
<br />Fiscal Year
<br />CITY OF ELK RIVER, MINNESOTA
<br />CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
<br />LAST TEN FISCAL YEARS
<br />(modified accrual basis of accounting)
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