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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 14,887,537$ -$ 2,522,992$ 17,410,529$
<br />Sales taxes - - 3,266,064 3,266,064
<br />Other taxes 168,050 1,580,759 - 1,748,809
<br />Special assessments - 1,909 104,983 106,892
<br />Licenses and permits 768,995 - - 768,995
<br />Intergovernmental 921,230 471,623 3,375,121 4,767,974
<br />Charges for services 1,308,509 - 1,890,857 3,199,366
<br />Fines and forfeitures 176,559 - 4,489 181,048
<br />Other revenue
<br />Investment income 235,663 84,171 1,306,131 1,625,965
<br />Contributions and donations - - 343,442 343,442
<br />Refunds and reimbursements 199,996 1,850 137,049 338,895
<br />Landfill expansion fee - - 2,213,448 2,213,448
<br />Miscellaneous revenue 41,773 - 135,270 177,043
<br />Total revenues 18,708,312 2,140,312 15,299,846 36,148,470
<br />Expenditures
<br />Current
<br />General government 5,340,356 - 418,940 5,759,296
<br />Public safety 10,517,190 - 419,132 10,936,322
<br />Public works 2,373,814 12,500 95,342 2,481,656
<br />Culture and recreation 2,522,176 - 2,423,599 4,945,775
<br />Economic development - - 746,553 746,553
<br />Capital outlay
<br />General government 99,914 - 535,033 634,947
<br />Public safety - - 800,390 800,390
<br />Public works 41,929 784,337 1,295,631 2,121,897
<br />Culture and recreation 33,480 - 1,584,149 1,617,629
<br />Debt service
<br />Principal 105,472 - 2,412,219 2,517,691
<br />Interest and other charges 3,563 - 1,669,233 1,672,796
<br />Total expenditures 21,037,894 796,837 12,400,221 34,234,952
<br />Excess of revenues over (under) expenditures (2,329,582) 1,343,475 2,899,625 1,913,518
<br />Other Financing Sources (Uses)
<br />Proceeds from sale of capital asset - - 383,354 383,354
<br />Lease issuance 99,914 - 32,115 132,029
<br />Transfers in 2,915,843 897,034 2,203,513 6,016,390
<br />Transfers out (471,000) - (3,010,238) (3,481,238)
<br />Total other financing sources (uses) 2,544,757 897,034 (391,256) 3,050,535
<br />Net change in fund balances 215,175 2,240,509 2,508,369 4,964,053
<br />Fund Balances
<br />Beginning of year 9,323,318 3,273,427 30,188,500 42,785,245
<br />End of year 9,538,493$ 5,513,936$ 32,696,869$ 47,749,298$
<br />City of Elk River
<br />Statement of Revenues, Expenditures, and
<br />Changes in Fund Balances - Governmental Funds
<br />Year Ended December 31, 2024
<br />Page 232 of 637
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