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IV-13
<br />CITY OF ELK RIVER
<br />STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
<br />FUND BALANCES -GOVERNMENTAL FUNDS
<br />YEAR ENDED DECEMBER 31, 2019
<br />Other
<br />General Active ER Pavement Governmental
<br />Fund Projects Management Funds
<br />REVENUE
<br />Property Taxes $ 11,171,848 $ $ $ 1,840,129
<br />Sales Tax Revenue 652,665
<br />Other Taxes 158,232 1,478,101
<br />Special Assessments 58,416
<br />Licenses and Permits 822,899
<br />Intergovernmental Revenue 618,488 389,407 388,811
<br />Charges for Services 944,297 778,794
<br />Fines and Forfeitures 134,493 32,294
<br />Other Revenue:
<br />Landfill Expansion Fee 2,081,124
<br />Investment Earnings 223,481 189,286 229,428 778,482
<br />Refunds and Reimbursements 224,635 52,588
<br />Contributions 25,000 685,534
<br />Miscellaneous Revenue 55,939 77,681
<br />Total Revenue 14,379,312 189,286 2,096,936 7,426,518
<br />EXPENDITURES
<br />Current:
<br />General Government 3,857,489 147,428
<br />Public Safety 7,422,080 198,917
<br />Public Works 2,103,742 113,908
<br />Culture and Recreation 2,107,192 861,655
<br />Economic Development 540,763
<br />Capital Outlay:
<br />General Government 58,735
<br />Public Safety 365,811
<br />Public Works 2,632,725 917,004
<br />Culture and Recreation 11,341,197 1,316,481
<br />Debt Service:
<br />Principal Retirement 1,315,000
<br />Interest and Fiscal Charges 242,835 470,188
<br />Total Expenditures 15,490,503 11,584,032 2,632,725 6,305,890
<br />EXCESS (DEFICIENCY) OF REVENUE OVER
<br />(UNDER) EXPENDITURES (1,111,191) (11,394,746) (535,789) 1,120,628
<br />OTHER FINANCE SOURCES (USES)
<br />Transfers In 1,891,045 1,397,893
<br />Transfers Out (569,813) (633,825)
<br />Issuance of Bonds Payable 32,715,000
<br />Premium on Bonds Payable 3,234,515
<br />Proceeds from Sale of Capital Assets 127,190
<br />Total Other Finance Sources 1,321,232 35,949,515 891,258
<br />NET CHANGE IN FUND BALANCES 210,041 24,554,769 (535,789) 2,011,886
<br />FUND BALANCES
<br />Beginning of Year 7,661,417 4,789,748 18,326,114
<br />End of Year $ 7,871,458 $ 24,554,769 $ 4,253,959 $ 20,338,000
<br />See accompanying Notes to Basic Financial Statements.
<br />Totals
<br />$ 13,011,977
<br />652,665
<br />1,636,333
<br />58,416
<br />822,899
<br />1,396,706
<br />1,723,091
<br />166,787
<br />2,081,124
<br />1,420,677
<br />277,223
<br />710,534
<br />133,620
<br />24,092,052
<br />4,004,917
<br />7,620,997
<br />2,217,650
<br />2,968,847
<br />540,763
<br />58,735
<br />365,811
<br />3,549,729
<br />12,657,678
<br />1,315,000
<br />713,023
<br />36,013,150
<br />(11,921,098)
<br />3,288,938
<br />(1,203,638)
<br />32,715,000
<br />3,234,515
<br />127,190
<br />38,162,005
<br />26,240,907
<br />30,777,279
<br />$ 57,018,186
<br />161
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