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<br />City of Elk River
<br />March 13, 2008
<br />Page ] 0
<br />Special Revenue Funds
<br />A summary of the special revenue fiord balances (deficits) is shown below:
<br />Fund
<br />Major
<br />Librarv
<br />Nonmajor
<br />Ice Arena
<br />Senior Citizen Account
<br />Park Dedication
<br />Landfill
<br />Landfill Construction Debris
<br />Revolving Loan
<br />DTED Grant/Loan
<br />Development Fund
<br />Capital Outlay Reserve
<br />Emergency/Insurance Reserve
<br />Gavemment Buildnngs Reserve
<br />Drug Forfeiture Reserve
<br />Severance Pay Reserve
<br />NSP/RDF Reserve
<br />Economic Development Authority
<br />EDA DTED Loan
<br />Totat nonmajor
<br />Total
<br />9,885,727
<br />$ 12,787,376
<br />48,093
<br />$ (2,579,768)
<br />Fund Balances (lleficits)
<br />December 31,
<br />2007 2006
<br />Increase
<br />(Decrease)
<br />$ zr.7s8 s z,9o1,649 $ (z,627,s61>
<br />27,318
<br />15,264
<br />(303,949)
<br />] .456, 847
<br />638,765
<br />l,o1g949
<br />135,002
<br />485,406
<br />2,376,519
<br />582,358
<br />1,997,274
<br />4,648
<br />132,934
<br />413,021
<br />749,044
<br />212.420
<br />18;799
<br />14,097
<br />268,023
<br />1,545,804
<br />607,232
<br />943,263
<br />128,349
<br />483,239
<br />2,679,39]
<br />606,056
<br />] ;426,121
<br />11,021
<br />126,371
<br />305,714
<br />511,682
<br />210,565
<br />8,519
<br />1,167
<br />(571,972)
<br />(88,957)
<br />31,533
<br />b7,686
<br />6,653
<br />2,167
<br />(302,872)
<br />(23,698)
<br />571, L53
<br />(6,373)
<br />6,563
<br />107,307
<br />237,362
<br />1,855
<br />9,933,820
<br />$ 10,207.608
<br />Following are the main reasons for some of the change in ending fund balances:
<br />The Park Dedication fund decreased due mainly to capital outlay expenditures and deferred park dedication credits.
<br />The City should review anticipated revenues and consider how it will eliminate this deficit fund balance.
<br />• The Library fund decreased as a result of the Library construction project.
<br />• Capital Outlay Reserve fund decreased mainly due to n'ausfers out of $641,000 as par[ of internally financing a
<br />portion of the Library construction project.
<br />• Government Buildings Reserve fund increased mainly due to landfill host fee revenues.
<br />952.835.9090 Fax 952.835..32fi1
<br />www.aemcp:ve.com
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