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CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
<br />GOVERNMENTAL FUNDS
<br />FOR THE YEAR ENDED DECEMBER 31, 2018
<br />EXPENDITURES
<br />Current:
<br />General government
<br />3,631,936
<br />- 101,810
<br />Other
<br />Total
<br />7,269,887
<br />General
<br />Pavement
<br />Governmental
<br />Governmental
<br />- 78,801
<br />Fund
<br />Management
<br />Funds
<br />Funds
<br />REVENUES
<br />Economic development
<br />-
<br />- 964,926
<br />964,926
<br />Taxes:
<br />General government
<br />Property taxes
<br />$ 10,508,700
<br />$ -
<br />$ 1,706,002
<br />$ 12,214,702
<br />Other taxes
<br />137,532
<br />1,454,131
<br />-
<br />1,591,663
<br />Licenses and permits
<br />790,831
<br />-
<br />-
<br />790,831
<br />Intergovernmental revenue
<br />578,324
<br />390,620
<br />436,987
<br />1,405,931
<br />Charges for services
<br />960,294
<br />-
<br />1,222,623
<br />2,182,917
<br />Fines and forfeits
<br />137,114
<br />-
<br />20,378
<br />157,492
<br />Special assessments
<br />-
<br />-
<br />379,054
<br />379,054
<br />Interest income
<br />130,484
<br />16,143
<br />284,015
<br />430,642
<br />Miscellaneous:
<br />Landfill expansion fee
<br />-
<br />-
<br />1,107,321
<br />1,107,321
<br />Refunds and reimbursements
<br />114,548
<br />180,091
<br />90,203
<br />384,842
<br />Contributions
<br />21,335
<br />-
<br />626,297
<br />647,632
<br />Other
<br />9,384
<br />-
<br />63,639
<br />73,023
<br />Total revenues
<br />13,388,546
<br />2,040,985
<br />5,936,519
<br />21,366,050
<br />EXPENDITURES
<br />Current:
<br />General government
<br />3,631,936
<br />- 101,810
<br />3,733,746
<br />Public safety
<br />7,269,887
<br />- 55,837
<br />7,325,724
<br />Public works
<br />1,796,844
<br />- 78,801
<br />1,875,645
<br />Culture and recreation
<br />2,044,286
<br />- 1,393,817
<br />3,438,103
<br />Economic development
<br />-
<br />- 964,926
<br />964,926
<br />Capital outlay:
<br />General government
<br />-
<br />- 79,173
<br />79,173
<br />Public safety
<br />-
<br />- 740,275
<br />740,275
<br />Public works
<br />-
<br />389,794 646,810
<br />1,036,604
<br />Culture and recreation
<br />-
<br />- 575,051
<br />575,051
<br />Debt service:
<br />Principal
<br />-
<br />- 1,575,000
<br />1,575,000
<br />Interest and service charges
<br />-
<br />- 507,661
<br />507,661
<br />Total expenditures
<br />14,742,953
<br />389,794 6,719,161
<br />21,851,908
<br />Excess (deficiency) of revenues
<br />over (under) expenditures (1,354,407) 1,651,191 (782,642) (485,858)
<br />OTHER FINANCING SOURCES (USES)
<br />Transfers in 2,028,314 - 1,325,721 3,354,035
<br />Transfers out (310,000) - (980,397) (1,290,397)
<br />Sale of capital assets - - 86,586 86,586
<br />Total other financing sources (uses) 1,718,314 - 431,910 2,150,224
<br />Net change in fund balances 363,907 1,651,191 (350,732) 1,664,366
<br />Fund balances - January 1 7,297,510 3,138,557 18,676,846 29,112,913
<br />Fund balances - December 31 $ 7,661,417 $ 4,789,748 $ 18,326,114 $ 30,777,279
<br />The notes to the financial statements are an integral part of this statement.
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