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CITY OF LAKE ELMO, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
<br />GOVERNMENTAL FUNDS
<br />FOR THE YEAR ENDED DECEMBER 31, 2023
<br />
<br />
<br />See accompanying notes. 31
<br />
<br />
<br />
<br /> General Fund
<br /> Debt Service
<br />Fund
<br /> City Hall / Fire
<br />Station Bldg
<br />Project Fund
<br /> 2023 Street
<br />Improvements
<br />Fund
<br /> Total Nonmajor
<br />Governmental
<br />Funds
<br /> Total
<br />Governmental
<br />Funds
<br />REVENUES
<br />Property Taxes 5,142,534$ 2,677,138$ -$ -$ -$ 7,819,672$
<br />Franchise Taxes 68,884 - - - - 68,884
<br />Special Assessments - 900,116 - - 8,938 909,054
<br />Licenses, Permits, and Fees 1,148,190 - - - - 1,148,190
<br />Intergovernmental 386,492 - 148,862 - 796,177 1,331,531
<br />Charges for Services 798,787 - - - 282,819 1,081,606
<br />Fines 45,402 - - - - 45,402
<br />Investment Earnings (Losses)345,953 119,653 352,664 5,077 249,225 1,072,572
<br />Lease Interest 65,336 - - - - 65,336
<br />Miscellaneous 46,277 - 18,686 - 21,230 86,193
<br />TOTAL REVENUES 8,047,855 3,696,907 520,212 5,077 1,358,389 13,628,440
<br />EXPENDITURES
<br />Current:
<br />General Government 1,213,697 - - - - 1,213,697
<br />Public Safety 3,037,244 - - - - 3,037,244
<br />Public Works 1,284,334 - - 70,466 417 1,355,217
<br />Parks and Recreation 409,753 - - - 739 410,492
<br />Capital Outlay 280,584 - 5,792,103 2,192,180 3,541,629 11,806,496
<br />Debt Service:
<br />Principal - 2,480,000 - - - 2,480,000
<br />Interest and Other Charges - 818,194 - 32,498 12,397 863,089
<br />TOTAL EXPENDITURES 6,225,612 3,298,194 5,792,103 2,295,144 3,555,182 21,166,235
<br />EXCESS (DEFICIENCY) OF REVENUES
<br />OVER (UNDER) EXPENDITURES 1,822,243 398,713 (5,271,891) (2,290,067) (2,196,793) (7,537,795)
<br />Capital Project Funds
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