|
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />Proprietary funds. When the City of Elk River charges customers for the services it provides - whether to outside
<br />customers or to other departments of the City - these services are generally reported in proprietary funds. Proprietary
<br />funds are reported in the same way that all activities are reported in the statement of net assets and the statement of
<br />revenues, expenses, and changes in net assets. The enterprise funds are the same as the business-type activities reported in
<br />the government-wide statements but provide more detail and additional information, such as cash flows, for proprietary
<br />funds. The City of Elk River uses enterprise funds to account for its municipal liquor, garbage, sewer, water, and electric
<br />operations.
<br />
<br />The basic proprietary fund financial statements can be found on pages 25 - 32 of this report.
<br />
<br />Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government
<br />Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not
<br />available to support the City of Elk River's own program. The accounting used for fiduciary funds is much like that used
<br />for proprietary funds.
<br />
<br />The basic fiduciary fund fmancial statements can be found on page 33 of this report.
<br />
<br />Notes to Financial Statements. The notes provide additional information that is essential to a full understanding of the
<br />data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on
<br />pages 34 - 56 of this report.
<br />
<br />Other Information. The combining statements referred to earlier in connection with nonmajor governmental funds and
<br />internal service funds are presented immediately following the notes to financial statements. Combining and individual
<br />fund statements and schedules can be found on pages 57 - 75 of this report.
<br />
<br />Government-wide Financial Analysis
<br />
<br />As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. In the case of
<br />the City of Elk River, assets exceeded liabilities by $175,618,989 at the close of the most recent fiscal year.
<br />
<br />By far, the largest portion of the City of Elk River's net assets (73 percent) reflects its investment in capital assets (e.g.,
<br />land, buildings, machinery, and equipment), less any related debt used to acquire those assets that is still outstanding. The
<br />City of Elk River uses these capital assets to provide services to citizens; consequently, these assets are not available for
<br />future spending. Although the City of Elk River's investment in its capital assets is reported net of related debt, it should
<br />be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets
<br />themselves cannot be used to liquidate these liabilities.
<br />
<br />Current and other assets
<br />Capital assets
<br />
<br /> Net Assets
<br />Governmental Business-type
<br />Activities Activities Total
<br />2005 2004 2005 2004 2005 2004
<br />$ 37,056,564 $ 33,345,931 $ 16,673,329 $ 14,701,975 $ 53,729,893 $ 48,047,906
<br />92.155.242 86.758.430 70.250.300 66.465.832 162.405.542 153.224.262
<br />129.211.806 120.104.361 86.923.629 81.167.807 216.135.435 20 1.272.168
<br />20,458,797 20,902,601 15,968,430 14,371,134 36,427,227 35,273,735
<br />1.924.364 1. 724.828 2.164.855 1.741.105 4.089.219 3.465.933
<br />22.383.161 22.627.429 18.133.285 16.1 12.239 40.516.446 38.739.668
<br />
<br />Total assets
<br />
<br />Long-term liabilities
<br />outstanding
<br />Other liabilities
<br />
<br />Total liabilities
<br />
<br />Net assets
<br />Invested in capital assets,
<br />net of related debt
<br />Restricted
<br />Unrestricted
<br />
<br />73,150,041 67,061,167 54,577,074 52,377,687 127,727,115 119,438,854
<br />12,410,832 10,963,518 2,256,419 14,667,251 10,963,518
<br />21.267.772 19.452.247 11.956.851 12.677.881 33.224.623 32.130.128
<br />$ 106828645 $ 97476932 $ 68 790 344 $ 65 055 568 $175618989 $162532500
<br /> 12
<br />
<br />Total net assets
<br />
|