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4.3 EDA BALANCE SHEET 03-18-2024 3-14-2024 07:56 AM CITY OF ELK RIVER PAGE: 1 BALANCE SHEET AS OF: FEBRUARY 29TH, 2024 920-EDA ACCOUNT # ACCOUNT DESCRIPTION BALANCE _____________________________________________________________________________________________ ASSETS ====== 920-1010 Cash - EDA 1,872,650.61 920-1610 Land Held for Resale 175,000.00 2,047,650.61 TOTAL ASSETS 2,047,650.61 ============== LIABILITIES =========== ______________ ______________ EQUITY ====== 920-2400 Fund Balance 1,708,126.29 TOTAL BEGINNING EQUITY 1,708,126.29 TOTAL REVENUE 205,382.55 TOTAL EXPENSES 25,224.29 (WILL CLOSE TO FUND BAL.) 159,366.06 TOTAL REVENUE OVER/(UNDER) EXPENSES 339,524.32 TOTAL EQUITY & REV. OVER/(UNDER) EXP. 2,047,650.61 TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 2,047,650.61 ============== Page 7 of 22 3-14-2024 07:57 AM CITY OF ELK RIVER PAGE: 1 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: FEBRUARY 29TH, 2024 920-EDA FINANCIAL SUMMARY 16.67% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ REVENUE SUMMARY EDA 434,950.00 192,076.95 205,382.55 47.22 229,567.45 TOTAL REVENUES 434,950.00 192,076.95 205,382.55 47.22 229,567.45 ============= ============= ============= ======= ============= EXPENDITURE SUMMARY Economic Development Economic Development 434,950.00 25,375.32 25,224.29 5.80 409,725.71 TOTAL Economic Development 434,950.00 25,375.32 25,224.29 5.80 409,725.71 TOTAL EXPENDITURES 434,950.00 25,375.32 25,224.29 5.80 409,725.71 ============= ============= ============= ======= ============= REVENUES OVER/(UNDER) EXPENDITURES 0.00 166,701.63 180,158.26 ( 180,158.26) Page 8 of 22 3-14-2024 07:57 AM CITY OF ELK RIVER PAGE: 2 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: FEBRUARY 29TH, 2024 920-EDA 16.67% OF YEAR COMP. CURRENT CURRENT YEAR TO DATE % OF BUDGET REVENUES BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ EDA === Taxes 920-3-0000-3111 Property Taxes 415,950.00 0.00 8,528.95 2.05 407,421.05 TOTAL Taxes 415,950.00 0.00 8,528.95 2.05 407,421.05 Intergovernmental Rev _____________ _____________ _____________ _______ _____________ Other Revenue 920-3-0000-3621 Interest Income 15,000.00 4,809.60 9,586.25 63.91 5,413.75 TOTAL Other Revenue 15,000.00 4,809.60 9,586.25 63.91 5,413.75 Other Financing Sources 920-3-0000-3910 Sale of Assets 0.00 187,267.35 187,267.35 0.00 ( 187,267.35) TOTAL Other Financing Sources 0.00 187,267.35 187,267.35 0.00 ( 187,267.35) Transfers In 920-3-0000-3949 Transfer-HRA 4,000.00 0.00 0.00 0.00 4,000.00 TOTAL Transfers In 4,000.00 0.00 0.00 0.00 4,000.00 _____________________________________________________________________________ TOTAL EDA 434,950.00 192,076.95 205,382.55 47.22 229,567.45 ___________________________________________________________________________________________________________________ TOTAL REVENUE 434,950.00 192,076.95 205,382.55 47.22 229,567.45 ============= ============= ============= ======= ============= Page 9 of 22 3-14-2024 07:57 AM CITY OF ELK RIVER PAGE: 3 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: FEBRUARY 29TH, 2024 920-EDA Economic Development 16.67% OF YEAR COMP. Economic Development CURRENT CURRENT YEAR TO DATE % OF BUDGET DEPARTMENTAL EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE ___________________________________________________________________________________________________________________ Personal Services 920-4-6210-4101 Regular Pay 123,900.00 9,271.24 4,726.52 3.81 119,173.48 920-4-6210-4103 Part-time Pay 12,600.00 1,050.00 1,050.00 8.33 11,550.00 920-4-6210-4104 PERA 9,500.00 702.84 361.99 3.81 9,138.01 920-4-6210-4105 FICA 8,350.00 577.11 311.39 3.73 8,038.61 920-4-6210-4107 Medicare 2,000.00 137.15 75.01 3.75 1,924.99 920-4-6210-4108 Insurance 24,300.00 2,392.20 2,392.20 9.84 21,907.80 920-4-6210-4109 Workers Comp 550.00 147.00 147.00 26.73 403.00 TOTAL Personal Services 181,200.00 14,277.54 9,064.11 5.00 172,135.89 Supplies 920-4-6210-4201 Office Supplies 2,500.00 0.57 0.57 0.02 2,499.43 920-4-6210-4212 Fuels & Lubes 50.00 0.00 0.00 0.00 50.00 TOTAL Supplies 2,550.00 0.57 0.57 0.02 2,549.43 Services & Charges 920-4-6210-4304 Legal Fees 10,000.00 0.00 0.00 0.00 10,000.00 920-4-6210-4319 Professional Services 27,000.00 0.00 0.00 0.00 27,000.00 920-4-6210-4321 Telephone 400.00 0.00 0.00 0.00 400.00 920-4-6210-4322 Postage 200.00 0.00 0.00 0.00 200.00 920-4-6210-4331 Travel, Conferences & Schools 10,450.00 650.71 650.71 6.23 9,799.29 920-4-6210-4349 Advertising/Marketing 67,200.00 6,631.50 6,631.50 9.87 60,568.50 920-4-6210-4359 Publishing 350.00 0.00 77.40 22.11 272.60 920-4-6210-4361 Insurance 250.00 25.00 25.00 10.00 225.00 920-4-6210-4404 Software Services 11,100.00 3,600.00 3,600.00 32.43 7,500.00 920-4-6210-4433 Dues & Subscriptions 4,750.00 190.00 2,175.00 45.79 2,575.00 920-4-6210-4440 Miscellaneous 73,500.00 0.00 3,000.00 4.08 70,500.00 TOTAL Services & Charges 205,200.00 11,097.21 16,159.61 7.88 189,040.39 Capital Outlay _____________ _____________ _____________ _______ _____________ Transfers Out 920-4-6210-4721 Transfer-General Fund 46,000.00 0.00 0.00 0.00 46,000.00 TOTAL Transfers Out 46,000.00 0.00 0.00 0.00 46,000.00 ___________________________________________________________________________________________________________________ TOTAL Economic Development 434,950.00 25,375.32 25,224.29 5.80 409,725.71 ___________________________________________________________________________________________________________________ TOTAL Economic Development 434,950.00 25,375.32 25,224.29 5.80 409,725.71 ___________________________________________________________________________________________________________________ TOTAL EXPENDITURES 434,950.00 25,375.32 25,224.29 5.80 409,725.71 ============= ============= ============= ======= ============= REVENUES OVER/(UNDER) EXPENDITURES 0.00 166,701.63 180,158.26 ( 180,158.26) Page 10 of 22