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CITY OF ELK RIVER, MINNESOTA
<br />CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
<br />LAST TEN FISCAL YEARS
<br />(modified accrual basis of accounting)
<br />Expenditures
<br />General government
<br />2,458,879
<br />Fiscal Year
<br />3,157,307
<br />2,615,582
<br />2009
<br />2010
<br />2011
<br />2012
<br />Revenues
<br />Public works
<br />2,656,097
<br />2,291,196
<br />2,752,469
<br />Property taxes
<br />$ 12,329,194
<br />$ 12,355,953
<br />$ 12,461,403
<br />$ 11,720,311
<br />Other taxes
<br />156,894
<br />193,466
<br />83,748
<br />125,623
<br />Licenses and permits
<br />322,338
<br />402,076
<br />432,875
<br />408,232
<br />Intergovernmental revenue
<br />3,117,997
<br />1,135,060
<br />1,678,555
<br />1,436,613
<br />Charges for services
<br />1,465,898
<br />1,727,276
<br />1,573,367
<br />1,659,986
<br />Fines and forfeits
<br />141,629
<br />161,074
<br />149,102
<br />137,819
<br />Special assessments
<br />1,464,348
<br />999,633
<br />989,101
<br />845,112
<br />Interest
<br />548,651
<br />359,731
<br />499,034
<br />319,654
<br />Miscellaneous
<br />1,853,966
<br />2,587,771
<br />2,568,159
<br />1,980,207
<br />Total revenues
<br />21,400,915
<br />19,922,040
<br />20,435,344
<br />18,633,557
<br />Expenditures
<br />General government
<br />2,458,879
<br />2,629,731
<br />3,157,307
<br />2,615,582
<br />Public safety
<br />5,377,208
<br />5,266,803
<br />5,291,617
<br />5,352,249
<br />Public works
<br />2,656,097
<br />2,291,196
<br />2,752,469
<br />2,931,726
<br />Culture and recreation
<br />2,666,146
<br />2,569,464
<br />2,663,806
<br />2,839,466
<br />Economic development
<br />1,589,464
<br />1,512,138
<br />1,479,140
<br />1,087,467
<br />Capital outlay
<br />4,627,322
<br />1,879,604
<br />2,874,212
<br />10,264,274
<br />Debt service
<br />3,135,942
<br />1,155,281
<br />3,634,087
<br />10,168,897
<br />Principal
<br />3,162,117
<br />2,411,062
<br />2,618,146
<br />2,127,000
<br />Interest and service charges
<br />1,289,087
<br />1,126,789
<br />1,059,804
<br />996,454
<br />Bond issuance costs
<br />-
<br />56,204
<br />-
<br />68,900
<br />Total expenditures
<br />23,826,320
<br />19,742,991
<br />21,896,501
<br />28,283,118
<br />Excess (deficiency) of revenues
<br />over (under) expenditures
<br />(2,425,405)
<br />179,049
<br />(1,461,157)
<br />(9,649,561)
<br />Other financing sources (uses)
<br />Transfers in
<br />2,887,624
<br />2,682,562
<br />5,978,905
<br />4,792,943
<br />Transfers out
<br />(1,842,622)
<br />(1,724,173)
<br />(2,368,051)
<br />(3,288,680)
<br />Proceeds of long-term debt
<br />2,074,311
<br />6,184,243
<br />-
<br />8,500,000
<br />Premium on long-term debt issued
<br />-
<br />255,238
<br />-
<br />115,164
<br />Payment to refunded bond escrow agent
<br />-
<br />(6,303,897)
<br />-
<br />-
<br />Sale of capital assets
<br />16,629
<br />61,308
<br />23,233
<br />49,470
<br />Total other financing sources (uses)
<br />3,135,942
<br />1,155,281
<br />3,634,087
<br />10,168,897
<br />Net change in fund balances
<br />$ 710,537
<br />$ 1,334,330
<br />$ 2,172,930
<br />$ 519,336
<br />Debt service as a percentage of
<br />noncapital expenditures
<br />23.7%
<br />19.8%
<br />19.6%
<br />17.1%
<br />116
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