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<br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />CITY OF ELK RIVER, MINNESOTA <br />SPECIAL REVENUE FUND - ECONOMIC DEVELOPMENT AUTHORITY FUND <br />STATEMENT OF REVENUE, EXPENDITURES AND <br />CHANGES IN FUND BALANCE - BUDGET AND ACTUAL <br />YEAR ENDED DECEMBER 31,2004 <br /> <br /> Variance with <br /> Final Budget- <br /> Budget Positive <br /> Original Final Actual (Negative) <br />REVENUES <br />General property taxes $ 219,850 $ 219,850 $ 221,566 $ 1,716 <br />Intergovernmental revenue 10,500 10,500 10,463 (37) <br />Interest 2,000 2,000 2,608 608 <br />Miscellaneous 18,500 18,500 20,414 1,914 <br />Total revenues 250,850 250,850 255,051 4,201 <br />EXPENDITURES <br />Current: <br />Economic development 210,500 210,500 186,801 23,699 <br />Revenues over expenditures 40,350 40,350 68,250 27,900 <br />OTHER FINANCING SOURCES (USES) <br />Transfers in 16,300 16,300 10,336 (5,964) <br />Transfers out (15,750) (15,750) (15,750) <br />Total other financing sources (uses) 550 550 (5,414) (5,964) <br />Net increase in fund balance $ 40,900 $ 40,900 62,836 $ 21 ,936 <br />Fund balance - January 1 187,850 <br />Fund balance - December 31 $ 250,686 <br /> <br />65 <br />