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CITY OF LAKE ELMO, MINNESOTA
<br />COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
<br />NONMAJOR GOVERMENTAL FUNDS
<br />FOR THE YEAR ENDED DECEMBER 31, 2024
<br />
<br />
<br />91
<br />
<br />
<br /> Total Nonmajor
<br />Special Revenue
<br />Funds
<br /> Total Nonmajor
<br />Capital Project
<br />Funds
<br /> Total Nonmajor
<br />Governmental
<br />Funds
<br />REVENUES
<br />Special Assessments -$ 1,160$ 1,160$
<br />Intergovernmental 53,489 336,555 390,044
<br />Charges for Services 6,000 1,088,429 1,094,429
<br />Investment Earnings (Losses)5,235 370,299 375,534
<br />Miscellaneous - 23,559 23,559
<br />TOTAL REVENUES 64,724 1,820,002 1,884,726
<br />EXPENDITURES
<br />Current:
<br />Public Works - 431,554 431,554
<br />Economic Development - 39 39
<br />Capital Outlay - 2,703,050 2,703,050
<br />Debt Service:
<br />Interest and Other Charges - 8,690 8,690
<br />TOTAL EXPENDITURES - 3,143,333 3,143,333
<br />EXCESS (DEFICIENCY) OF REVENUES
<br />OVER (UNDER) EXPENDITURES 64,724 (1,323,331) (1,258,607)
<br />OTHER FINANCING SOURCES (USES)
<br />Sale of Assets - 109,573 109,573
<br />Bond Issuance - 170,991 170,991
<br />Premium on Bond Issuance - 14,581 14,581
<br />Transfers In - 1,473,193 1,473,193
<br />Transfers Out (67,910) (500,000) (567,910)
<br />TOTAL OTHER FINANCING
<br />SOURCES (USES)(67,910) 1,268,338 1,200,428
<br />NET CHANGE IN FUND BALANCES (3,186) (54,993) (58,179)
<br />FUND BALANCES - BEGINNING 43,278 4,958,040 5,001,318
<br />(As Previously Reported)
<br />ADJUSTMENTS AND RESTATEMENTS
<br />Adjustment - Change in Nonmajor Funds - 1,847,535 1,847,535
<br />FUND BALANCES - BEGINNING 43,278 6,805,575 6,848,853
<br />(As Adjusted)
<br />FUND BALANCES - ENDING 40,092$ 6,750,582$ 6,790,674$
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