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CITY OF LAKE ELMO, MINNESOTA
<br />CHANGES IN FUND BALANCES – GOVERNMENTAL FUNDS
<br />LAST TEN YEARS
<br />
<br />
<br />113
<br />
<br />2023 2022 2021 2020 2019
<br />Revenues:
<br />General Property Taxes 7,888,556$ 7,562,013$ 5,303,553$ 4,947,133$ 4,182,327$
<br />Licenses and Permits 1,148,190 1,646,539 1,485,658 1,425,695 1,055,038
<br />Intergovernmental 1,331,531 1,121,633 722,128 1,023,193 2,819,961
<br />Charges for Services 1,081,606 1,170,762 1,151,914 1,273,241 1,079,342
<br />Fines and Forfeits 45,402 34,711 45,749 33,584 36,696
<br />Special Assessments 909,054 570,486 862,766 474,099 649,487
<br />Park Dedication Fees - - 1,845,371 714,558 123,500
<br />Investment Earnings (Losses)1,072,572 (419,853) (13,874) 348,766 331,010
<br />Lease Interest 65,336 39,196 - - -
<br />Miscellaneous 86,193 150,426 177,000 183,711 201,494
<br /> Total Revenues 13,628,440 11,875,913 11,580,265 10,423,980 10,478,855
<br />Expenditures:
<br />Current:
<br />General Government 1,213,697 1,017,210 1,056,983 1,005,254 1,136,908
<br />Public Safety 3,037,244 2,701,216 3,003,677 2,641,770 1,948,269
<br />Public Works 1,355,217 1,763,030 1,488,448 1,493,370 1,875,606
<br />Parks And Recreation 410,492 282,789 258,690 310,066 265,260
<br />Economic Development Authority - - 53,264 46,371 71,609
<br />Debt service:
<br />Principal 2,480,000 1,870,000 3,641,000 1,790,000 1,615,000
<br />Interest and Fiscal Charges 863,089 611,636 425,797 420,299 454,814
<br />Capital Outlay 11,806,496 14,912,731 4,915,641 1,846,843 4,354,643
<br /> Total Expenditures 21,166,235 23,158,612 14,843,500 9,553,973 11,722,109
<br />Excess (Deficiency) of Revenues
<br />Over Expenditures (7,537,795) (11,282,699) (3,263,235) 870,007 (1,243,254)
<br />Other Financing Sources (Uses):
<br />Issuance of Debt 3,410,000 4,905,000 6,126,989 - 2,860,000
<br />Premium on Issuance of Debt 317,037 326,200 (876,989) - 168,168
<br />(Discount) on Issuance of Debt - - 15,675,000 - -
<br />Proceeds from Sale of Capital Assets 60,600 76,162 548,115 13,805 44,927
<br />Transfers In 466,799 252,074 - 1,900,244 1,181,173
<br />Transfers Out (466,799) (252,074) 17,300 (1,900,244) (786,573)
<br /> Total Other Financing
<br /> Sources (Uses)3,787,637 5,307,362 21,490,415 13,805 3,467,695
<br />Net Change in Fund Balance (3,750,158)$ (5,975,337)$ 18,227,180$ 883,812$ 2,224,441$
<br />Debt Service as a Percentage of
<br />Noncapital Expenditures 35.1%28.3%40.9%26.8%26.1%
<br />Debt Service as a Percentage of
<br />Total Expenditures 15.8%10.7%27.4%23.1%17.7%
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