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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, 2024
<br />
<br />
<br />See accompanying notes. 31
<br /> General Fund
<br /> Debt Service
<br />Fund
<br /> 2024 Street &
<br />Utility
<br />Improvement
<br />Fund
<br /> Hudson Blvd Imp-
<br />Seg A-InwdHdrx
<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 5,977,668$ 2,923,830$ -$ -$ -$ 8,901,498$
<br />Franchise Taxes 86,955 - - - - 86,955
<br />Special Assessments - 1,114,353 - - 1,160 1,115,513
<br />Licenses, Permits, and Fees 1,020,801 - - - - 1,020,801
<br />Intergovernmental 500,860 - - 1,436,000 390,044 2,326,904
<br />Charges for Services 912,893 - - - 1,094,429 2,007,322
<br />Fines 55,286 - - - - 55,286
<br />Investment Earnings (Losses)444,440 149,678 205 17,041 375,534 986,898
<br />Lease Interest 63,813 - - - - 63,813
<br />Miscellaneous 84,046 - - - 23,559 107,605
<br />TOTAL REVENUES 9,146,762 4,187,861 205 1,453,041 1,884,726 16,672,595
<br />EXPENDITURES
<br />Current:
<br />General Government 1,437,156 - - - - 1,437,156
<br />Public Safety 3,749,563 - - - - 3,749,563
<br />Public Works 1,069,092 - 530 296 431,554 1,501,472
<br />Parks and Recreation 492,788 - - - - 492,788
<br />Economic Development - 7,035 - - 39 7,074
<br />Capital Outlay 88,888 - 1,924,908 2,031,217 2,703,050 6,748,063
<br />Debt Service:
<br />Principal - 2,705,000 - - - 2,705,000
<br />Interest and Other Charges - 916,406 38,924 26,293 8,690 990,313
<br />TOTAL EXPENDITURES 6,837,487 3,628,441 1,964,362 2,057,806 3,143,333 17,631,429
<br />EXCESS (DEFICIENCY) OF REVENUES
<br />OVER (UNDER) EXPENDITURES 2,309,275 559,420 (1,964,157) (604,765) (1,258,607) (958,834)
<br />Capital Project Funds Formerly Major Funds
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