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City of Orono, Minnesota
<br />Statement of Revenues, Expenditures and Changes in Fund Balances
<br />Governmental Funds
<br />For the Year Ended December 31, 2024
<br />Formerly
<br />Major Fund
<br />Municipal Pavement
<br />State Aid Management
<br />General Street Plan
<br />Revenues
<br />Taxes 6,514,353$ -$
<br />Special assessments - -
<br />Licenses and permits 765,454 -
<br />Intergovernmental 496,704 225,835
<br />Charges for services 3,810,287 -
<br />Fines and forfeitures 61,288 -
<br />Investment earnings 146,251 12,776
<br />Miscellaneous 169,847 -
<br />Total Revenues 11,964,184 238,611
<br />Expenditures
<br />Current
<br />General government 1,690,550 -
<br />Public safety 7,792,479 -
<br />Public works 1,173,200 -
<br />Parks and recreation 361,746 -
<br />Community development - -
<br />Capital outlay
<br />Public safety 183,238 -
<br />Public works - 18,581
<br />Parks and recreation - -
<br />Debt service
<br />Principal - -
<br />Interest and other charges - -
<br />Total Expenditures 11,201,213 18,581
<br />Excess (Deficiency) of Revenues
<br />Over (Under) Expenditures 762,971 220,030
<br />Other Financing Sources (Uses)
<br />Transfers in 19,244 -
<br />Proceeds from sale of capital assets 32,047 -
<br />Transfers out (256,407) -
<br />Financed purchase issued - -
<br />Total Other Financing Sources (Uses) (205,116) -
<br />Net Change in Fund Balances 557,855 220,030 -
<br />Fund Balances, January 1, as previously stated 4,217,743 (1,340,839) 449,730
<br />Change within financial reporting entity (major to nonmajor) - - (449,730)
<br />Fund Balances, January 1, as restated 4,217,743 (1,340,839) -
<br />Fund Balances, December 31 4,775,598$ (1,120,809)$ -$
<br />The notes to the financial statements are an integral part of this statement.
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