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<br />149 <br />Housing and <br />Redevelopment <br />Authority <br />Assets <br />Cash and investments 1,446,277$ <br />Taxes receivable 12,251 <br />Accounts receivable 7,921 <br />Notes receivable 592,670 <br />Due from primary government 152,710 <br />Total assets 2,211,829$ <br />Liabilities <br />Salaries and benefits payable 4,426$ <br />Due to primary government 27,012 <br />Total liabilities 31,438 <br />Deferred Inflows of Resources <br />Unavailable revenue - property taxes 3,494 <br />Fund Balances <br />Nonspendable 592,670 <br />Restricted for housing and redevelopment 1,584,227 <br />Total fund balances 2,176,897 <br />Total liabilities, deferred inflows <br /> of resources, and fund balances 2,211,829$ <br />Total fund balances reported above 2,176,897$ <br />Amounts reported for the Housing and Redevelopment Authority in the <br /> Statement of Net Position are different because: <br />Capital assets used in governmental activities are not financial resources, and therefore, <br />are not reported in the funds <br />Land 315,900 <br />Other improvements 174,290 <br />Less accumulated depreciation (140,400) <br />Some receivables are not available soon enough to pay for the current period's expenditures, <br />and therefore are reported as unavailable revenue in the funds <br />Delinquent taxes receivable 3,494 <br />The net pension liability and related deferred inflows and deferred outflows are recorded <br />only on the Statement of Net Position. Balances at year-end are: <br />Net pension liability (36,554) <br />Deferred inflows of resources related to pensions (24,912) <br />Deferred outflows of resources related to pensions 7,357 <br />Total net position - Housing and Redevelopment Authority 2,476,072$ <br />City of Elk River <br />Balance Sheet - Governmental Fund <br />Housing and Redevelopment Authority Component Unit <br />December 31, 2024 <br />Page 339 of 637