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CITY OF ELK RIVER, MINNESOTA <br />NOTES TO THE FINANCIAL STATEMENTS <br />DECEMBER 31, 2018 <br />NOTE 6: INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS - CONTINUED <br />Interfund transfers: <br />Governmental funds: <br />Major fund - General <br />Nonmajor funds <br />Total governmental funds <br />Proprietary funds: <br />Municipal liquor <br />Garbage <br />Sewer <br />Storm W ater <br />Electric <br />Total proprietary funds <br />Total <br />Transfer In Transfer Out <br />$ 2,028,314 $ 310,000 <br />1,325,721 980,397 <br />3,354,035 1,290,397 <br />- 689,174 <br />45,000 46,750 <br />- 150,000 <br />- 35,000 <br />- 1,187,714 <br />45,000 2,108,638 <br />$ 3,399,035 $ 3,399,035 <br />Interfund transfers are used to provide additional capital funding or to move revenues from the fund with collection <br />authorization to debt service funds as principal and interest payments come due. In addition, interfund transfers are <br />occasionally authorized to allow redistribution of resources between funds for the most efficient use of funds. <br />51 <br />