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135 <br />City of Elk River <br />Schedule of Revenues, Expenditures, and <br />Changes in Fund Balances - <br />Budget and Actual <br />Economic Development Authority Special Revenue Fund <br />Year Ended December 31, 2024 <br />Original Final Actual Amounts <br />Revenues <br />Property taxes 415,950$ 415,950$ 423,636$ 7,686$ <br />Intergovernmental - - 203 203 <br />Charges for services 4,000 4,000 4,000 - <br />Other revenue <br />Investment income 15,000 15,000 76,760 61,760 <br />Contributions and donations - - 6,400 6,400 <br />Miscellaneous revenue - - 39,944 39,944 <br />Total revenues 434,950 434,950 550,943 115,993 <br />Expenditures <br />Current <br />Economic development 388,950 388,950 271,102 (117,848) <br />Excess of revenues over <br />expenditures 46,000 46,000 279,841 233,841 <br />Other Financing Sources (Uses) <br />Proceeds from sale of capital asset - - 317,267 317,267 <br />Transfers out (46,000) (46,000) (46,000) - <br />Total other financing sources (uses)(46,000) (46,000) 271,267 317,267 <br />Net change in fund balances -$ -$ 551,108 551,108$ <br />Fund Balances <br />Beginning of year 1,867,516 <br />End of year 2,418,624$ <br />Budgeted Amounts Variance with <br />Final Budget - <br />Over (Under) <br />Page 325 of 637