SHERBURNE COUNTY
ELK RIVER, MINNESOTA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
YEAR ENDED DECEMBER 31, 2020
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 $ 27,644,600 $ 10,651,313 $ 9,910,009 $ - $ 3,126 $ 2,779,957 $ 75,638 $ - $ 51,064,643
Other taxes 250,213 5,838,539 - - 1,311,436 - - 67,481 7,467,669
Special assessments 75,994 - - 46,798 - - - 126,268 249,060
Licenses and permits 18,917 49,152 - 22,275 - - - - 90,344
Intergovernmental 21,353,278 8,216,582 13,742,615 293,504 1,569 9,669 252 9,463 43,626,932
Charges for services 4,895,130 21,051 1,300,892 5,593,148 - - - 600 11,810,821
Fines and forfeitures 69,193 - - - - - - 72,840 142,033
Earnings on investments 1,343,930 - - 18,859 - - - - 1,362,789
Gifts and contributions 38,264 - 196,197 - - - - - 234,461
Miscellaneous revenues 1,101,189 5,140 253,891 22,040 83,584 - - 2,348,419 3,814,263
Total revenues $ 56,790,708 $ 24,781,777 $ 25,403,604 $ 5,996,624 $ 1,399,715 $ 2,789,626 $ 75,890 $ 2,625,071 $ 119,863,015
Expenditures
Current
General government $ 28,196,916 $ - $ - $ - $ - $ - $ - $ 580,092 $ 28,777,008
Public safety 22,292,589 - - - - - - 1,435,755 23,728,344
Highway - 19,249,328 - - - - - - 19,249,328
Sanitation - - - 1,448,609 - - - - 1,448,609
Human services - - 20,455,112 - - - - - 20,455,112
Health - - 2,948,178 - - - - - 2,948,178
Culture and recreation 1,964,457 - - - - - - 10,312 1,974,769
Conservation of natural
resources 464,629 - - - - - - 51,092 515,721
Economic development 553,295 - - - 1,710,282 - - - 2,263,577
Debt service
Interest and fiscal charges - - - - - 1,287,150 - - 1,287,150
Principal - - - - - 1,350,000 - - 1,350,000
Capital outlay 2,593,775 863,757 2,161 - - - 101,171 360,378 3,921,242
Intergovernmental
Highway - 3,544,292 - - - - - - 3,544,292
Total expenditures $ 56,065,661 $ 23,657,377 $ 23,405,451 $ 1,448,609 $ 1,710,282 $ 2,637,150 $ 101,171 $ 2,437,629 $ 111,463,330
Excess of Revenues Over
(Under) Expenditures $ 725,047 $ 1,124,400 $ 1,998,153 $ 4,548,015 $ (310,567) $ 152,476 $ (25,281) $ 187,442 $ 8,399,685
Other Financing Sources (Uses)
Transfers in $ 1,191,051 $ 58,000 $ - $ - $ - $ - $ - $ - $ 1,249,051
Transfers out (58,000) - - (376,951) - - - - (434,951)
Proceeds - sale of
capital assets 70,392 146,607 - - - - - - 216,999
Total other financing
sources (uses) $ 1,203,443 $ 204,607 $ - $ (376,951) $ - $ - $ - $ - $ 1,031,099
Net Change in Fund Balance $ 1,928,490 $ 1,329,007 $ 1,998,153 $ 4,171,064 $ (310,567) $ 152,476 $ (25,281) $ 187,442 $ 9,430,784
Fund Balance - January 1 31,413,764 19,317,271 13,181,423 44,164,662 4,549,247 3,540,025 1,464,035 4,138,725 121,769,152
Restatement - see note 4.D - 433,928 - - - - - - 433,928
Fund Balance - January 1,
restated 31,413,764 19,751,199 13,181,423 44,164,662 4,549,247 3,540,025 1,464,035 4,138,725 122,203,080
Increase (decrease) in
inventories - 147,429 - - - - - - 147,429
Fund Balance - December 31 $ 33,342,254 $ 21,227,635 $ 15,179,576 $ 48,335,726 $ 4,238,680 $ 3,692,501 $ 1,438,754 $ 4,326,167 $ 131,781,293
See accompanying Notes to Basic Financial Statements.
(Published in the Patriot: 10/09/21).
