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The notes to the financial statements are an integral part of this statement.
<br />26
<br />Variance with
<br />Original Final Actual Final Budget
<br />REVENUES
<br />Taxes:
<br /> Property taxes 9,969,250$ 9,969,250$ 9,943,268$ (25,982)$
<br /> Other taxes 140,000 140,000 144,132 4,132
<br />Licenses and permits 714,950 714,950 1,007,543 292,593
<br />Intergovernmental revenue 293,500 509,500 546,362 36,862
<br />Charges for services 916,150 916,150 1,033,053 116,903
<br />Fines and forfeits 155,000 155,000 178,671 23,671
<br />Interest income 90,000 90,000 120,645 30,645
<br />Miscellaneous revenue:
<br /> Refunds and reimbursements 101,000 101,000 130,003 29,003
<br /> Contributions 20,000 20,000 16,000 (4,000)
<br /> Other 6,500 6,500 5,015 (1,485)
<br /> Total revenues 12,406,350 12,622,350 13,124,692 502,342
<br />EXPENDITURES
<br />Current:
<br /> General government 3,463,450 3,463,450 3,355,858 107,592
<br /> Public safety 6,729,050 6,945,050 6,723,602 221,448
<br /> Public works 1,917,800 1,917,800 1,866,693 51,107
<br /> Culture and recreation 1,978,650 1,978,650 1,913,809 64,841
<br /> Total expenditures 14,088,950 14,304,950 13,859,962 444,988
<br />Deficiency of revenues under expenditures (1,682,600) (1,682,600) (735,270) 947,330
<br />OTHER FINANCING SOURCES (USES)
<br />Transfers in 1,972,050 1,972,050 1,872,050 (100,000)
<br />Transfers out (289,450) (289,450) (597,347) (307,897)
<br /> Total other financing sources (uses)1,682,600 1,682,600 1,274,703 (407,897)
<br />Net change in fund balance - - 539,433 539,433
<br />Fund balance - January 1 6,758,077 6,758,077 6,758,077 -
<br />Fund balance - December 31 6,758,077$ 6,758,077$ 7,297,510$ 539,433$
<br />Budget
<br />CITY OF ELK RIVER, MINNESOTA
<br />GENERAL FUND
<br />STATEMENT OF REVENUES, EXPENDITURES,
<br />AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
<br />FOR THE YEAR ENDED DECEMBER 31, 2017
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