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City of Elk River <br />Notes to Basic Financial Statements <br />NOTE 6 — INTERFUND ASSETS/LIABILITIES <br />At December 31, 2022, interfund balances for the City were as follows: <br />Receivable Fund <br />Due from/to other funds <br />General Fund <br />General Fund <br />General Fund <br />Pavement Management <br />Nonmajor Governmental Funds <br />Nonmajor Governmental Funds <br />Nonmajor Governmental Funds <br />Sewer <br />Sewer <br />Garbage <br />Storm Water <br />Electric <br />Electric <br />Electric <br />Water <br />Total due from/to other funds <br />Due from/to component unit <br />Primary Government - General Fund <br />Component Unit - HRA <br />Total due from/to component unit <br />Payable Fund Amount <br />Nonmajor Governmental Funds <br />$ 59,850 <br />Electric <br />122,873 <br />Water <br />30,382 <br />Electric <br />266,763 <br />Nonmajor Governmental Funds <br />997,796 <br />Electric <br />218,287 <br />Water <br />22,680 <br />Nonmajor Governmental Funds <br />171,800 <br />Electric <br />202,132 <br />Electric <br />158,352 <br />Electric <br />51,085 <br />Sewer <br />1,150 <br />Garbage <br />2,481 <br />Storm Water <br />1,899 <br />Nonmajor Governmental Funds <br />128,850 <br />$ 2,436,380 <br />Component Unit - HRA $ 15,345 <br />Primary Government - Nonmajor Governmental Funds 170,632 <br />$ 185,977 <br />The interfund receivable/payable balances result from the distribution of utility collections and the <br />lending/borrowing between funds for operating or capital purposes. <br />The outstanding balance between the primary government and the component unit represents the <br />transfer for administrative services and the lending/borrowing arrangement to finance construction costs. <br />The $170,632 payable to the HRA will be paid with the collection of tax increment revenue and will not <br />be repaid within one year. <br />W. <br />