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<br />CITY OF ELK RIVER, MINNESOTA
<br />GOVERNMENTAL FUNDS
<br />BALANCE SHEET
<br />DECEMBER 31, 2007
<br />ASSETS
<br />Cash and investments
<br />Cash with fiscal agent
<br />Receivables:
<br />Interest
<br />Taxes
<br />Accounts
<br />Special assessments
<br />Notes
<br />Due from other governments
<br />Due from other funds
<br />Due from component unit
<br />Prepaid items
<br />Total assets
<br />LIABILITIES AND FUND BALANCES
<br />Liabilities:
<br />Accounts payable
<br />Salaries payable
<br />Due to other governments
<br />Due to other funds
<br />Due to component unit
<br />Deferred revenue
<br />Total liabilities
<br />Fund balances:
<br />Reserved for:
<br />Debt service
<br />Capital equipmenu'projects
<br />Landfill mitigation
<br />Notes
<br />Prepaid items
<br />Unreserved reported in:
<br />Designated:
<br />General fund, for working capital
<br />Special revenue funds, for working capital
<br />Special revenue funds, for future debt requirements
<br />Capital projects funds, for capital projects
<br />Undesignated:
<br />Special revenue funds
<br />Total fund balances
<br />Total liabilities and fund balances
<br />General Improvement
<br />Fund Library Bonds
<br />$ 5,318,853 $ 612,179 $ 686,388
<br />54,910 2,600 5,779
<br />442;745 7,113 5,203
<br />19,592 - -
<br />- - 2,408,892
<br />22,808 - -
<br />57,574 - -
<br />3,018 - -
<br />5,938 - -
<br />$ 5,925,438 $ 621,892 $ 3,106,262
<br />
<br />$ 191,775 $ 344,001 $ -
<br />153,937 307 -
<br />227,722 3,796 2,393,646
<br />573,434 348,104 2,393,646
<br />- - 712,616
<br />5,938 - -
<br />5,346,066 - -
<br />- 273,788 -
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<br />5,352,004 273,788 712,6]6
<br />$ 5,925,438 $ 62],892 $ 3,106,262
<br />The notes to the financial statements are an integral part of this statement.
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