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City of Elk River
<br />Financial Analysis
<br />General Fund — Revenues
<br />The following graph presents comparisons of revenues by type, illustrating the majority of revenue for
<br />the City is from taxes, representing 80.2% of total General Fund revenues. Other revenues include items
<br />such as fines and forfeitures, investment earnings, and other miscellaneous items.
<br />Revenues of the General Fund increased from 2020 to 2021 by $976,798, or 6.7%. Tax revenue had the
<br />largest increase of $403,994 based on the increase in taxes levied for the fund. Licenses and permits
<br />increased $350,010 based on increased permit revenue, most notably building permits along with
<br />plumbing and heating permits. Charges for services increased $257,189 due to an uptick in revenue from
<br />plan check fees and police services. Other sources of revenue had relatively minor fluctuations when
<br />compared to the prior year.
<br />General Fund Revenues
<br />$14,000,000
<br />$12,000,000
<br />$10,000,000
<br />$8,000,000
<br />$6,000,000
<br />$4,000,000
<br />$2,000,000
<br />$
<br />2017
<br />2018
<br />2019
<br />2020
<br />2021
<br />■Charges for Services
<br />$1,033,053
<br />$960,294
<br />$944,297
<br />$820,666
<br />$1,077,855
<br />■ Other
<br />450,334
<br />413,168
<br />663,548
<br />369,125
<br />426,864
<br />■Licenses and Permits
<br />1,007,543
<br />790,831
<br />822,899
<br />665,519
<br />1,015,529
<br />■ Intergovernmental
<br />546,362
<br />578,324
<br />618,488
<br />674,061
<br />581,927
<br />■ Taxes
<br />10,087,400
<br />10,646,232
<br />11,330,080
<br />12,127,323
<br />12,531,317
<br />10
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