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NOTE 6 <br />CITY OF ELK RIVER <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />DECEMBER 31, 2019 <br />INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS <br />The composition of interfund balances as of December 31, 2019 is as follows: <br />Due To/From Other Funds <br />Receivable Fund <br />General <br />General <br />General <br />Pavement Management <br />Nonmajor Governmental Funds <br />Nonmajor Governmental Funds <br />Sewer <br />Sewer <br />Garbage <br />Storm Water <br />Electric <br />Electric <br />Electric <br />Water <br />Payable Fund <br />Amount <br />Nonmajor Governmental Funds <br />$ 11,674 <br />Electric <br />221,996 <br />Water <br />35,955 <br />Electric <br />276,727 <br />Nonmajor Governmental Funds <br />1,753,878 <br />Electric <br />1,646 <br />Nonmajor Governmental Funds <br />171,800 <br />Electric <br />180,405 <br />Electric <br />138,531 <br />Electric <br />43,013 <br />Sewer <br />538 <br />Garbage <br />1,563 <br />Storm Water <br />906 <br />Nonmajor Governmental Funds <br />128,850 <br />$ 2,967,482 <br />The interfund receivable/payable balances result from the distribution of utility collections <br />and the lending/borrowing between funds for operating or capital purposes. <br />Due To/From Component Unit <br />Receivable Entity Payable Entity Amount <br />Primary Government - General Fund Component Unit - HRA $ 17,020 <br />Component Unit - HRA Nonmajor Governmental Funds 196,105 <br />$ 213,125 <br />The outstanding balance between the primary government and the component unit <br />represents the transfer for administrative services and the lending/borrowing arrangement to <br />finance construction costs. The $196,105 payable to the HRA will be paid with the collection <br />of tax increment revenue and will not be repaid within one year. <br />Interfund Transfers <br />Fund <br />Governmental Funds: <br />General Fund <br />Nonmajor Governmental Funds <br />Tota I <br />Transfer In <br />$ 1,891,045 <br />1,397,893 <br />$ 3,288,938 <br />Transfer Out <br />$ 569,813 <br />633,825 <br />$ 1,203,638 <br />(54) <br />