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City of Elk River
<br />Balance Sheet - Governmental Funds
<br />December 31, 2022
<br />Nonmajor
<br />Total
<br />Pavement
<br />Governmental
<br />Governmental
<br />General Fund
<br />Management
<br />Funds
<br />Funds
<br />Assets
<br />Cash and investments
<br />$ 9,307,918
<br />$ 5,877,290
<br />$ 28,341,952
<br />$ 43,527,160
<br />Taxes receivable
<br />440,311
<br />-
<br />752,720
<br />1,193,031
<br />Accounts receivable
<br />37,021
<br />147,081
<br />796,339
<br />980,441
<br />Interest receivable
<br />43,084
<br />31,055
<br />106,050
<br />180,189
<br />Notes receivable
<br />-
<br />-
<br />1,399,128
<br />1,399,128
<br />Leases receivable
<br />-
<br />-
<br />229,506
<br />229,506
<br />Special assessments receivable
<br />Delinquent
<br />-
<br />-
<br />19,706
<br />19,706
<br />Deferred
<br />-
<br />-
<br />1,302,314
<br />1,302,314
<br />Due from other funds
<br />213,105
<br />266,763
<br />1,238,763
<br />1,718,631
<br />Due from other governments
<br />53,756
<br />1,599,323
<br />378,843
<br />2,031,922
<br />Due from component unit
<br />15,345
<br />-
<br />-
<br />15,345
<br />Land held for resale
<br />-
<br />-
<br />175,000
<br />175,000
<br />Prepaid items
<br />-
<br />-
<br />114,967
<br />114,967
<br />Total assets
<br />$ 10,110,540
<br />$ 7,921,512
<br />$ 34,855,288
<br />$ 52,887,340
<br />Liabilities
<br />Accounts payable
<br />$ 315,204
<br />$ 47,425
<br />$ 1,420,507
<br />$ 1,783,136
<br />Salaries and benefits payable
<br />611,402
<br />-
<br />35,405
<br />646,807
<br />Contracts payable
<br />-
<br />-
<br />109,001
<br />109,001
<br />Due to other funds
<br />-
<br />-
<br />1,358,296
<br />1,358,296
<br />Due to other governments
<br />8,068
<br />-
<br />4,719
<br />12,787
<br />Due to component unit
<br />-
<br />-
<br />170,632
<br />170,632
<br />Unearned revenue
<br />-
<br />2,816,765
<br />2,816,765
<br />Total liabilities
<br />934,674
<br />47,425
<br />5,915,325
<br />6,897,424
<br />Deferred Inflows of Resources
<br />Unavailable revenue - property taxes
<br />286,978
<br />-
<br />34,079
<br />321,057
<br />Unavailable revenue - special assessments
<br />-
<br />-
<br />1,317,847
<br />1,317,847
<br />Unavailable revenue - other
<br />-
<br />1,599,323
<br />-
<br />1,599,323
<br />Deferred inflow related to leases receivable
<br />-
<br />-
<br />229,506
<br />229,506
<br />Total deferred inflows of resources
<br />286,978
<br />1,599,323
<br />1,581,432
<br />3,467,733
<br />Fund Balances
<br />Nonspendable
<br />-
<br />-
<br />114,967
<br />114,967
<br />Restricted
<br />-
<br />-
<br />12,149,090
<br />12,149,090
<br />Committed
<br />-
<br />6,274,764
<br />3,308,674
<br />9,583,438
<br />Assigned
<br />-
<br />-
<br />13,064,623
<br />13,064,623
<br />Unassigned
<br />8,888,888
<br />-
<br />(1,278,823)
<br />7,610,065
<br />Total fund balances
<br />8,888,888
<br />6,274,764
<br />27,358,531
<br />42,522,183
<br />Total liabilities, deferred inflows
<br />See Accompanying Notes to Basic Financial Statements. 38
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