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<br />I <br />I <br />I <br />I <br /> <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br /> <br />I <br /> <br />CITY OF ELK RIVER, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2005 <br /> <br />Construction commitments <br /> <br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED <br /> <br />At December 31, 2005, the City had construction project contracts in progress. The commitments related to the <br />remaining contract balances are summarized as follows: <br /> <br />Project <br />2005 Street Rehabilitation <br />Northstar Business Park <br />Public Works Paving <br />Fire Station Expansion <br />WWTP Headworks Improvements <br /> <br />Total <br /> <br />D. Interfund Receivables, Payables, and Transfers <br /> <br />Spent <br />to date <br />$ 790,512 <br />604,619 <br />163,886 <br />123,182 <br />425,846 <br /> <br />$ 2,108,045 <br /> <br />Due to/from other funds: <br /> <br />The composition of interfund balances as of December 31, 2005 is as follows: <br /> <br />Receivable Fund <br /> <br />General <br />Capital projects <br />Garbage <br />Sewer <br />Nonmajor governmental funds <br /> <br />Total <br /> <br />Payable Fund <br /> <br />Electric <br />Nonmajor governmental funds <br />Electric <br />Electric <br />General <br />Tax increment financing districts <br />Water <br />Electric <br />Nonmajor governmental funds <br /> <br />Remaining <br />Commitment <br />$ 134,534 <br />40,796 <br />63,594 <br />366,518 <br />1,350,154 <br /> <br />$ 1,955,596 <br /> <br />Amount <br /> <br />$ 39,822 <br />186,656 <br />89,956 <br />107,312 <br />2,553 <br />480,189 <br />14,940 <br />27,127 <br />19,759 <br /> <br />$ 968,314 <br /> <br />The interfund receivable and payable balances result mainly from the distribution of utility collections and the <br />lendinglborrowing arrangements to cover deficit cash balances at the end of the year. <br /> <br />46 <br />