3.4. HRSR 06-04-2007BALANCE SHEET ITEM # 3 - ~-
Page: 1
5/8/2007
CITY OF ELK RIVER 11:04 AM
As of: 3/31/2007 Balances
Fund Type: CU Component Unit
Fund: 910 - HRA
Assets
Acct Class: 1000 Current Assets
1010 Cash 186,638.02
1190 Notes Receivable 400,000.00
1310 Due From Other Funds 358,207.79
Acct Class: 1000 Current Assets 944,845.81
Acct Class: 1600 Capital Assets
1620 Buildings & Structures 720,000.00
Acct Class: 1600 Capital Assets 720,000.00
Total Assets 1,664,845.81
Liabilities
Acct Class: 2000 Current Liabilities
Building Purchase (non-current liability)*" 504,000
2070 Due To Other Funds 7,198.04
Acct Class: 2000 Current Liabilities 511,198.04
Total Liabilities 511,198.04
Reserves/Balances
Acct Class: 2400 Fund Equity
2400 Fund Balance 1,144,761.53
2600 Change In Fund Balance 8,886.24
Acct Class: 2400 Fund Equity 1,153,647.77
Total Reserves/Balances 1,153,647.77
Total Liabilities & Balances 1,664,845.81
*" =The City's financial system is on the modified accrual basis of accounting and the current financial resources measurement focus .
"Governmental 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.