SHERBURNE COUNTY
ELK RIVER, MINNESOTA
BALANCE SHEET
GOVERNMENTAL FUNDS
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
Assets
Cash and pooled investments $ 33,105,308 $ 20,644,488 $ 14,280,313 $ 46,455,736 $ 4,242,008 $ 3,689,252 $ 1,438,666 $ 4,333,759 $ 128,189,530
Petty cash and change funds 1,700 - - - - - - - 1,700
Interest receivable 95,105 - - - - - - - 95,105
Taxes receivable, net 367,196 153,387 125,545 - 8,324 42,917 3,824 - 701,193
Property tax collected for
subsequent periods 37,909 14,866 21,432 - - 3,880 104 - 78,191
Special assessments
receivable, net 326,740 - - 6,172 - - - 84,507 417,419
Accounts receivable, net 74,817 59,320 200,422 767,899 - - - 99,107 1,201,565
Loans receivable, net - - - 710,931 - - - 231,604 942,535
Due from other funds 17,052 24,907 1,177 - - - - - 43,136
Due from other governments 2,155,263 9,215,973 1,813,652 516,544 - - - 4,450 13,705,882
Advance to other funds 47,223 - - - - - - - 47,223
Inventories - 719,097 - - - - - - 719,097
Prepaid items 783,283 12,286 37,527 740 - - - 7,930 841,766
Total Assets $ 37,011,596 $ 30,844,324 $ 16,480,068 $ 48,458,022 $ 4,250,332 $ 3,736,049 $ 1,442,594 $ 4,761,357 $ 146,984,342
Liabilities, Deferred Inflows of
Resources and Fund Balances
Liabilities
Accounts payable $ 558,435 $ 348,826 $ 452,908 $ 82,345 $ 3,328 $ - $ - $ 35,454 $ 1,481,296
Salaries and benefits payable 1,091,007 195,043 540,622 26,680 - - - 123 1,853,475
Contracts payable 20,465 783,107 - - - - - - 803,572
Due to other funds 26,084 - 16,602 - - - - 450 43,136
Due to other governments 108,299 1,288 154,970 7,099 - - - 600 272,256
Deposits Payable 1,392,497 - - - - - - - 1,392,497
Unearned revenue 99,194 - - - - - - 266,833 366,027
Advance from other funds - - - - - - - 47,223 47,223
Total Liabilities $ 3,295,981 $ 1,328,264 $ 1,165,102 $ 116,124 $ 3,328 $ - $ - $ 350,683 $ 6,259,482
Deferred Inflows of Resources
Unavailable revenue $ 335,452 $ 8,273,559 $ 113,958 $ 6,172 $ 8,324 $ 39,668 $ 3,736 $ 84,507 $ 8,865,376
Unavailable revenue-
prepaid taxes 37,909 14,866 21,432 - - 3,880 104 - 78,191
Total Deferred
Inflows of Resources $ 373,361 $ 8,288,425 $ 135,390 $ 6,172 $ 8,324 $ 43,548 $ 3,840 $ 84,507 $ 8,943,567
Fund Balances
Nonspendable
Advances $ 47,223 $ - $ - $ - $ - $ - $ - $ - $ 47,223
Inventory - 719,097 - - - - - - 719,097
Prepaids 783,283 12,286 37,527 740 - - - 7,930 841,766
Restricted
Attorney forfeitures 88,806 - - - - - - - 88,806
County attorney truancy 4,551 - - - - - - - 4,551
COVID-19 econonic
relief program 1,924,610 - - - - - - - 1,924,610
Debt service - - - - - 3,692,501 - - 3,692,501
Ditches - - - - - - - 205,637 205,637
E-911 1,008,241 - - - - - - - - 1,008,241
Education 46,844 - - - - - - - 46,844
Gravel tax - - - - - - - 1,174,415 1,174,415
Landfill postclosure - - - 19,761,622 - - - - 19,761,622
Law library - - - - - - - 291,603 291,603
Parks dedication - - - - - - - 566,265 566,265
Recorder compliance 788,536 - - - - - - - 788,536
Recorder technology 435,374 - - - - - - - 435,374
Regional rail - - - - 4,238,680 - - - 4,238,680
Sanitation - - - 27,862,433 - - - - 27,862,433
Sheriff fines 257,246 - - - - - - - 257,246
Sheriff forfeitures 229,072 - - - - - - - 229,072
Committed
Forfeited land - - - - - - - 10,433 10,433
Loans receivable - - - 710,931 - - - - 710,931
Public safety - - - - - - - 2,069,884 2,069,884
Assigned
General government 4,419,219 - - - - - - - 4,419,219
Public safety 1,638,788 - - - - - - - 1,638,788
Highway - 19,496,252 - - - - - - 19,496,252
Human services - - 14,456,081 - - - - - 14,456,081
Culture and recreation 547,661 - - - - - - - 547,661
Economic development 320,919 - - - - - - - 320,919
Capital projects - - - - - - 1,438,754 - 1,438,754
Subsequent years budgets 2,054,947 1,000,000 145,468 - - - - - 3,200,415
Positive pay 598,285 - - - - - - - - 598,285
Other capital purposes - - 540,500 - - - - - 540,500
Unassigned 18,148,649 - - - - - - - - 18,148,649
Total Fund Balances $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
Total Liabilities, Deferred
Inflows ofResources and
Fund Balances $37,011,596 $ 30,844,324 $16,480,068 $ 48,458,022 $4,250,332 $ 3,736,049 $ 1,442,594 $ 4,761,357 $ 146,984,342
See accompanying notes to Basic Financial Statements.
(Published in the Patriot: 10/09/21).
