SHERBURNE COUNTY
ELK RIVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
YEAR ENDED DECEMBER 31, 2022
Health and Regional Non-Major Total
General Public Human Solid Rail Debt Capital Governmental Governmental
Fund Works Services Waste Authority Service Projects Fund Funds Funds
Revenues
Property taxes $ 31,180,348 $ 10,532,821 $ 10,416,007 $ - $ 1,057 $ 2,774,605 $ 79,775 $ - $ 54,984,613
Other taxes 362,424 8,522,947 - - 713,956 - - 74,208 9,673,535
Special assessments 112,555 - - 91,799 - - - 80,977 285,331
Licenses and permits 21,275 48,675 - 12,960 - - - - 82,910
Intergovernmental 14,947,198 4,047,256 16,395,944 287,481 - 8,771 239 14,347 35,701,236
Charges for services 4,494,731 19,332 1,216,370 6,280,126 - - - 375 12,010,934
Fines and forfeitures 113,544 - - - - - - 95,542 209,086
Earnings on investments (10,446,573) - - 49,023 - - - 2,231 (10,395,319)
Gifts and contributions 276 - 149,736 - - - - 79 150,091
Miscellaneous revenues 1,253,575 10,039 444,427 46,960 206,986 - - 2,970,287 4,932,274
Total revenues $ 42,039,353 $ 23,181,070 $ 28,622,484 $ 6,768,349 $ 921,999 $ 2,783,376 $ 80,014 $ 3,238,046 $ 107,634,691
Expenditures
Current
General government $ 23,180,208 $ - $ - $ - $ - $ - $ - $ 129,743 $ 23,309,951
Public safety 26,153,202 - - - - - - 1,891,022 28,044,224
Highway - 21,933,215 - - - - - - 21,933,215
Sanitation - - - 1,736,126 - - - - 1,736,126
Human services - - 24,366,834 - - - - - 24,366,834
Health - - 3,596,221 - - - - - 3,596,221
Culture and recreation 2,090,763 - - - - - - 19,050 2,109,813
Conservation of natural
resources 473,977 - - - - - - 77,168 551,145
Economic development 491,061 - - - 4,810,572 - - - 5,301,633
Debt service
Interest and fiscal charges - - - - - 1,223,290 - - 1,223,290
Principal - - - - - 1,415,000 - - 1,415,000
Capital outlay 3,199,278 357,069 91,000 - - - 113,777 93,584 3,854,708
Intergovernmental
Highway - 456,334 - - - - - - 456,334
Total expenditures $ 55,588,489 $ 22,746,618 $ 28,054,055 $ 1,736,126 $ 4,810,572 $ 2,638,290 $ 113,777 $ 2,210,567 $ 117,898,494
Excess of Revenues Over
(Under) Expenditures $ (13,549,136) $ 434,452 $ 568,429 $ 5,032,223 $ (3,888,573) $ 145,086 $ (33,763) $ 1,027,479 $ (10,263,803)
Other Financing Sources (Uses)
Transfers in $ 1,203,169 $ 229,000 $ - $ - $ - $ - $ - $ - $ 1,432,169
Transfers out (229,000) - - (926,569) - - - - (1,155,569)
Proceeds - sale of
capital assets 42,253 - - - - - - - 42,253
Total other financing
sources (uses) $ 1,016,422 $ 229,000 $ - $ (926,569) $ - $ - $ - $ - $ 318,853
Net Change in Fund Balance $ (12,532,714) $ 663,452 $ 568,429 $ 4,105,654 $ (3,888,573) $ 145,086 $ (33,763) $ 1,027,479 $ (9,944,950)
Fund Balance - January 1 28,765,768 29,171,957 16,266,667 53,076,135 3,930,994 3,856,145 1,538,148 3,769,457 140,375,271
Increase (decrease) in
inventories - 78,061 - - - - - - 78,061
Fund Balance - December 31 $ 16,233,054 $29,913,470 $ 16,835,096 $ 57,181,789 $ 42,421 $ 4,001,231 $ 1,504,385 $ 4,796,936 $ 130,508,382
See accompanying Notes to Basic Financial Statements.
(Published in the Patriot: 08/12/23).
