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<br />See notes to basic financial statements. 42
<br />General Fund
<br />Pavement
<br />Management
<br />Nonmajor
<br />Governmental
<br />Funds
<br /> Total
<br />Governmental
<br />Funds
<br />Revenues
<br />Property taxes 13,785,282$ -$ 2,493,822$ 16,279,104$
<br />Sales taxes - - 3,810,301 3,810,301
<br />Other taxes 156,365 1,555,744 - 1,712,109
<br />Special assessments - - 224,426 224,426
<br />Licenses and permits 976,260 - - 976,260
<br />Intergovernmental 706,917 768,365 2,525,536 4,000,818
<br />Charges for services 1,247,308 - 1,820,795 3,068,103
<br />Fines and forfeitures 169,910 - - 169,910
<br />Other revenue
<br />Investment income 202,618 655,353 1,375,597 2,233,568
<br />Contributions and donations - - 275,685 275,685
<br />Refunds and reimbursements 188,548 17,931 200,088 406,567
<br />Landfill expansion fee - - 2,193,833 2,193,833
<br />Miscellaneous revenue 54,828 - 128,052 182,880
<br />Total revenues 17,488,036 2,997,393 15,048,135 35,533,564
<br />Expenditures
<br />Current
<br />General government 4,908,703 - 246,936 5,155,639
<br />Public safety 9,696,200 - 93,273 9,789,473
<br />Public works 2,630,313 - 71,120 2,701,433
<br />Culture and recreation 2,432,803 - 2,278,714 4,711,517
<br />Economic development - - 580,422 580,422
<br />Capital outlay
<br />General government - - 1,450,553 1,450,553
<br />Public safety 3,830 - 1,212,445 1,216,275
<br />Public works - 5,998,730 1,769,775 7,768,505
<br />Culture and recreation - - 974,439 974,439
<br />Economic development - - 85,709 85,709
<br />Debt service
<br />Principal 105,484 - 2,972,213 3,077,697
<br />Interest and other charges 4,773 - 1,791,155 1,795,928
<br />Total expenditures 19,782,106 5,998,730 13,526,754 39,307,590
<br />Excess of revenues over (under) expenditures (2,294,070) (3,001,337) 1,521,381 (3,774,026)
<br />Other Financing Sources (Uses)
<br />Proceeds from sale of capital asset - - 805,210 805,210
<br />Transfers in 3,165,000 - 1,829,167 4,994,167
<br />Transfers out (436,500) - (1,325,789) (1,762,289)
<br />Total other financing sources (uses) 2,728,500 - 1,308,588 4,037,088
<br />Net change in fund balances 434,430 (3,001,337) 2,829,969 263,062
<br />Fund Balances
<br />Beginning of year 8,888,888 6,274,764 27,358,531 42,522,183
<br />End of year 9,323,318$ 3,273,427$ 30,188,500$ 42,785,245$
<br />City of Elk River
<br />Statement of Revenues, Expenditures, and
<br />Changes in Fund Balances - Governmental Funds
<br />Year Ended December 31, 2023
<br />Page 163 of 464
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