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IV-28NOTES CITY OF ELK RIVER NOTES TO BASIC FINANCIAL STATEMENTS DECEMBER 31, 2019 CAPITAL ASSETS (CONTINUED) Beginning COMPONENT UNIT Balance ,,,_ Capital Aasets, Not Being Oepreci-: I.and $ 257,100 $ Capital Aasets, Being Oepreci-: Other Improvements 174,290 Accumulated Depreciation for: other Improvements (70,683) (11,619) Total Capital Assets, Being Depreciated, Net 103,807 !11,619) Component Unit Capital Aaeela. Nat $ 360,707 $ (11,619) Ending -~ $ $ 257,100 174,290 (62,302) 91,988 $ ~068 Depreciation expense was charged to functions/programs of the primary government and component unit as follows: Governmental Activities: General Government Public Safety Public Works Culture and Recreation Total Depreciation Expense, Governmental Activities Business-Type Activities: Electric Water Sewer Storm Water Liquor Total Depreciation Expense, Business-Type Activities Component Unit: Housing and Redevelopment Authority $ 154,687 640,384 3,326,685 1,042,935 $ 5,164,691 $ 2,856,258 1,147,149 1,644,459 457,477 123,286 $ 6,228,629 $ 11,619 NOTE6 CITY OF ELK RIVER NOTES TO BASIC FINANCIAL STATEMENTS DECEMBER 31, 2019 INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS The composition of interfund balances as of December 31, 2019 is as follows: Due To/From Other Funds General General General Receivable Fund Pavement Management Nonmajor Governmental Funds Nonmajor Governmental Funds Sewer Sewer Garbage Storm Water Electric Electric Electric Water Pa}'.!!_ble Fund Nonmajor Governmental Funds Electric Water Electric Nonmajor Governmental Funds Electric Nonmajor Governmental Funds Electric Electric Electric Sewer Garbage Storm Water Nonmajor Governmental Funds Amount $ 11,674 221,996 35,955 276,727 1,753,878 1,646 171,800 180,405 138,531 43,013 538 1,563 906 128,850 $ 2,967,482 The interfund receivable/payable balances result from the distribution of utility collections and the lending/borrowing between funds for operating or capital purposes. Due To/From Component Unit Receivable En~ Primary Government -General Fund Component Unit -HRA Payable Entity Component Unit -HRA Nonmajor Governmental Funds Amount $ 17,020 196,105 $ 213,125 The outstanding balance between the primary government and the component unit represents the transfer for administrative services and the lending/borrowing arrangement to finance construction costs. The $196,105 payable to the HRA will be paid with the collection of tax increment revenue and will not be repaid within one year. lnterfund Transfers Fund Governmental Funds: General Fund Nonmajor Governmental Funds Total Transfer In Transfer Out $ 1,891,045 $ 569,813 1,397,893 633,825 $-3,288,938 $ 1,203,638 176
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