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IV-15
<br />CITY OF ELK RIVER
<br />STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
<br />GENERAL FUND -BUDGET TO ACTUAL (GAAP BASIS)
<br />YEAR ENDED DECEMBER 31, 2019
<br />Budgeted Amounts Over (Under)
<br />Original Final Actual Final Budget
<br />REVENUE
<br />Taxes:
<br />Property Taxes $ 11,187,400 $ 11,187,400 $ 11,171,848 $ (15,552)
<br />Other Taxes 150,000 150,000 158,232 8,232
<br />Licenses and Permits 857,000 857,000 822,899 (34,101)
<br />Intergovernmental Revenue 571,500 571,500 618,488 46,988
<br />Charges for Services 1,000,700 1,000,700 944,297 (56,403)
<br />Fines and Forfeits 154,500 154,500 134,493 (20,007)
<br />Other Revenue:
<br />Investment Earnings 100,000 100,000 223,481 123,481
<br />Refunds and Reimbursements 130,000 130,000 224,635 94,635
<br />Contributions 23,000 23,000 25,000 2,000
<br />Miscellaneous Revenue 6,500 6,500 55,939 49,439
<br />Total Revenue 14,180,600 14,180,600 14,379,312 198,712
<br />EXPENDITURES
<br />General Government 4,019,050 3,878,100 3,857,489 (20,611)
<br />Public Safety 7,616,250 7,718,200 7,422,080 (296,120)
<br />Public Works 2,133,400 2,159,900 2,103,742 (56,158)
<br />Culture and Recreation 2,120,500 2,133,000 2,107,192 (25,808)
<br />Total Expenditures 15,889,200 15,889,200 15,490,503 (398,697)
<br />EXCESS (DEFICIENCY) OF REVENUE OVER
<br />(UNDER) EXPENDITURES (1,708,600) (1,708,600) (1,111,191) 597,409
<br />OTHER FINANCE SOURCES (USES)
<br />Transfers In 2,040,600 2,040,600 1,891,045 (149,555)
<br />Transfers Out (332,000) (332,000) (569,813) (237,813)
<br />Total Other Finance Sources (Uses) 1,708,600 1,708,600 1,321,232 (387,368)
<br />NET CHANGE IN FUND BALANCES $ $ 210,041 $ 210,041
<br />FUND BALANCES
<br />Beginning of Year 7,661,417
<br />End of Year $ 7,871,458
<br />See accompanying Notes to Basic Financial Statements.
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