6.3. SR 06-15-2020 - Laserfiche WebLink

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CITY OF ELK RIVER MANAGEMENT'S DISCUSSION AND ANALYSIS YEAR ENDED DECEMBER 31, 2019 Revenues by Source- Business -Type Activities U n restricted Investment Earnings, Capita IGrants and 1.28% Con tri butions, 2.31% for Services, 96.41 Financial Analvsis of the Government's Funds Governmental funds. The focus of the City's governmental funds is to provide information on near - term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. As of the end of the current fiscal year, the City's governmental funds reported combined ending fund balances of $57,018,186. Approximately 9% of this total amount ($4,859,907) constitutes unassigned fund balance. The remainder of fund balance ($52,158,279) is not available for new spending because it is either 1) nonspendable ($249,322), 2) restricted ($28,548,680), 3) committed ($10,182,700) or 4) assigned ($13,177,577) for other purposes. The General fund is the chief operating fund of the City of Elk River. The total fund balance of the General fund increased $210,041 during the current year, resulting primarily from budgeted transfers in. The Active ER Projects fund increased $24,554,769 due to the issuance of the 2019A G.O. Sales Tax Revenue Bonds in the amount of $32,715,000, issued to finance the acquisition and betterment of certain recreational facility improvements, park improvements, trail improvements, and the dredging of Lake Orono, which was partially offset by expenditures incurred on the related projects. The Pavement Management fund decreased $535,789 due to current year expenditures exceeding the collection of franchise fees and intergovernmental revenues. In