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~3ALAlVCE S11EET <br /> Page; l <br />AUGUST 2009 <br />CITY OF ELK RIVER <br />As of; 8131120x9 Balances <br />Fund Type; CU Component Unit <br />Fund; 910 - HRA <br />Assets <br />Acct Class; 1000 Current Assets <br />1010 Cash 552,Q80,67 <br />1190 Notes Receivable 400,000,00 <br />1310 Due Fram ~thec Funds 369,125,92 <br />Acct Class; 1000 Current Assets 1,321,206.59 <br />Acct Class; 1600 Capital Assets <br />1620 Buildings & Structures 720,000,00 <br />Acct Class; 1600 Capital Assets 720,000,00 <br />Total Assets 2,041,206,59 <br />Llabllltle5 <br />Acct Class; 2000 Cur!'ent Liabilities <br />Building Purchase anon-current liability}~~ 320,070.29 <br />Acct Class; 2000 Current Liabilities 320,070,29 <br />Total Liabilities 320,070,29 <br />ReserveslBalances <br />Acct Class: 2400 Fund Equity <br />2400 Fund Balance 1,694,608.89 <br />2600 Change In Fund Balance 26,527.41 <br />Acct Class; 2400 Fund Equity 1,721,136,30 <br />Total ReserveslBalances 1,721,136.30 <br />Total Liabilities & Balances 2,041,206,59 <br />~ ~ ~ The City's financial system is on the mod~ed accrual basis of accounting and the eu~~~~en~ financial resau~~ces ~r~easu~ernen~ focus. <br />"Government funds, with their focus on current financial resources, do not report liabilities for the following, Unmatured principal and interest <br />of long-term debt" ~GAAFR, page 174}. The City records long-teI'm debt related liabilities as part of the GASB 34 conversion entries and will <br />show up on your year-end accrual statements, ghat finance will do is manually insert the long-term liability in yaut• balance sheet to more <br />closely reflect aCC!'UaI accounting, <br />