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3.3. HRSR Balance Sheet 01-07-08BALANCE SHEET NOVEMBER 2007 Page: 1 12/6/2007 CITY OF ELK RIVER 10:39 AM As of: 11/30/2007 Balances Fund Type: CU Component Unit Fund: 910 - HRA Assets Acct Class: 1000 Current Assets 1010 Cash 207,904.77 1190 Notes Receivable 400,000.00 1310 Due From Other Funds 455,825.47 Acct Class: 1000 Current Assets 1,063,730.24 Acct Class: 1600 Capital Assets 1620 Buildings & Structures 720,000.00 Acct Class: 1600 Capital Assets 720,000.00 Total Assets 1,783,730.24 Liabilities Acct Class: 2000 Current Liabilities Building Purchase (non-current liability)** 460,035.82 Acct Class: 2000 Current Liabilities 460,035.82 Total Liabilities 460,035.82 Reserves/Balances Acct Class: 2400 Fund Equity 2400 Fund Balance 1,188,725.71 2600 Change In Fund Balance 134,968.71 Acct Class: 2400 Fund Equity 1,323,694.42 Total ReservesBalances 1,323,694.42 Total Liabilities & Balances 1,783,730.24 ** =The City's financial system is on the modified accrual basis of accounting and the current financial resources measurement focus. "Government funds, with their focus on current financial resources, do not report liabilities for the following. Unmatured principal and interest of long-term debt" (GAAFR, page 174). The City records long-term debt related liabilities as part of the GASB 34 conversion entries and will show up on your year-end accrual statements. What finance will do is manually insert the long-term liability in your balance sheet to more closely reflect accrual accounting. REVENUEIEXPENDITURE REPORT THROUGH 12/4107 Page: 1 121612007 CITY OF ELK RIVER 10:35 am For the Period 11112007 to 1213112007 Original Bud. Amended Bud. YTD Actual CURR MTH Encumb. YTD UnencBal % Bud Fund: 910 - HRA Revenues Dept: 000.000 Acct Class: 3100 General property taxes 3111 Current Ad Valorem Taxes 245,700.00 245,700.00 245,265.33 117,286.38 0.00 434.67 99.8 General property taxes 245,700.00 245,700.00 245,265.33 117,286.38 0.00 434.67 99.8 Acct Class: 3300 Intergovernmental revenue 3322 MV Credit 0.00 0.00 5,444.90 0.00 0.00 -5,444.90 0.0 Intergovernmental revenue 0.00 0.00 5,444.90 0.00 0.00 -5,444.90 0.0 Acct Class: 3400 Charges for services 3475 Building Rent 0.00 0.00 47,659.50 0.00 0.00 -47,659.50 0.0 Charges for services 0.00 0.00 47,659.50 0.00 0.00 -47,659.50 0.0 Acct Class: 3620 Other revenue 3621 Interest Income 1,100.00 1,100.00 4,888.14 0.00 0.00 -3,788.14 444.4 3625 Refunds & Reimbursements 0.00 0.00 131,789.58 0.00 0.00 -131,789.58 0.0 Other revenue 1,100.00 1,100.00 136,677.72 0.00 0.00 -135,577.7212,425.2 Acct Class: 3920 Transfers in 3947 Transfer - TIF 45,000.00 45,000.00 0.00 0.00 0.00 45,000.00 0.0 Transfers in 45,000.00 45,000.00 0.00 0.00 0.00 45,000.00 0.0 Dept: 000.000 291,800.00 291,800.00 435,047.45 117,286.38 0.00 -143,247.45 149.1 Revenues 291,800.00 291,800.00 435,047.45 117,286.38 0.00 -143,247.45 149.1 Expenditures Dept: 610.610 HOUSING & REDEVELOPMENT Acct Class: 4100 Personal services 4101 Regular Pay 52,600.00 52,600.00 33,756.69 0.00 0.00 18,843.31 64.2 4104 PERA 3,300.00 3,300.00 2,170.73 0.00 0.00 1,129.27 65.8 4105 FICA 3,250.00 3,250.00 2,153.37 0.00 0.00 1,096.63 66.3 4107 Medicare 750.00 750.00 503.61 0.00 0.00 246.39 67.1 41081nsurance 5,550.00 5,550.00 4,352.00 0.00 0.00 1,198.00 78.4 4109 Workers Comp 150.00 150.00 119.00 0.00 0.00 31.00 79.3 Personal services 65,600.00 65,600.00 43,055.40 0.00 0.00 22,544.60 65.6 Acct Class: 4200 Supplies 4201 Office Supplies 0.00 0.00 168.07 0.00 0.00 -168.07 0.0 Supplies 0.00 0.00 168.07 0.00 0.00 -168.07 0.0 Acct Class: 4300 Other services & charges 4304 Legal Fees 10,000.00 10,000.00 13,025.05 0.00 0.00 -3,025.05 130.3 4319 Other Professional Services 31,000.00 31,000.00 26,381.50 360.00 0.00 4,618.50 85.1 4322 Postage 500.00 500.00 63.20 0.00 0.00 436.80 12.6 4331 Travel, Conferences & Schools 0.00 0.00 820.29 0.00 0.00 -820.29 0.0 4349 Advertising/Marketing 0.00 0.00 5,706.58 878.63 0.00 -5,706.58 0.0 4359 Publishing 12,500.00 12,500.00 2,050.64 0.00 0.00 10,449.36 16.4 4361 Insurance 250.00 250.00 1,499.50 0.00 0.00 -1,249.50 599.8 4389 Utilities 0.00 0.00 3,231.34 146.82 0.00 -3,231.34 0.0 4433 Dues & Subscriptions 200.00 200.00 236.50 0.00 0.00 -36.50 118.3 4437 Taxes & Licenses 0.00 0.00 15,780.00 0.00 0.00 -15,780.00 0.0 4440 Miscellaneous 0.00 0.00 75.56 0.00 0.00 -75.56 0.0 Other services & charges 54,450.00 54,450.00 68,870.16 1,385.45 0.00 -14,420.16 126.5 Acct Class: 4600 Debt service 4601 Principal 0.00 0.00 43,964.18 0.00 0.00 -43,964.18 0.0 4611 Interest 0.00 0.00 15,120.00 0.00 0.00 -15,120.00 0.0 REVENUEIEXPENDITURE REPORT THROUGH 12/4/07 Page: 2 121612007 CITY OF ELK RIVER 10:35 am For the Period 11112007 to 1213112007 Original Bud. Amended Bud. YTD Actual CURR MTH Encumb. YTD UnencBal % Bud Fund: 910 -HRA Expenditures Dept: 610.610 HOUSING & REDEVELOPMENT Debt service 0.00 0.00 59,084.18 0.00 0.00 -59,084.18 0.0 Acct Class: 4700 Transfers out 4721 Transfer-General Fund 9,500.00 9,500.00 9,500.00 0.00 0.00 0.00 100.0 4735 Transfer-EDA 3,500.00 3,500.00 3,500.00 0.00 0.00 0.00 100.0 Transfers out 13,000.00 13,000.00 13,000.00 0.00 0.00 0.00 100.0 HOUSING & REDEVELOPMENT 133,050.00 133,050.00 184,177.81 1,385.45 0.00 -51,127.81 138.4 Expenditures 133,050.00 133,050.00 184,177.81 1,385.45 0.00 -51,127.81 138.4 Net Effect for HRA 158,750.00 158,750.00 250,869.64 115,900.93 0.00 -92,119.64 158.0 Change in Fund Balance: 250,869.64