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CITY OF ARDEN HILLS
<br />Balance Sheet
<br />Governmental Funds
<br />as of December 31, 2023
<br />Permanent
<br />Other
<br />Total
<br />Improvement
<br />Governmental
<br />Intra-Activity
<br />Governmental
<br />General
<br />Revolving
<br />Funds
<br />Eliminations
<br />Funds
<br />Assets
<br />Cash and investments
<br />$ 4,253,316
<br />$ 5,815,975
<br />$ 3,659,448
<br />$ -
<br />$ 13,728,739
<br />Accrued interest receivable
<br />22,369
<br />28,089
<br />13,420
<br />-
<br />63,878
<br />Accounts receivable
<br />21,478
<br />-
<br />29,677
<br />-
<br />51,155
<br />Taxes receivable
<br />102,803
<br />-
<br />750
<br />-
<br />103,553
<br />Special assessments receivable
<br />3,628
<br />1,165,877
<br />-
<br />-
<br />1,169,505
<br />Interfund receivable
<br />-
<br />194,879
<br />38,941
<br />(233,820)
<br />-
<br />Leases receivable
<br />779,183
<br />-
<br />-
<br />-
<br />779,183
<br />Due from other governmental units
<br />46,790
<br />-
<br />-
<br />-
<br />46,790
<br />Prepaid items
<br />39,554
<br />-
<br />4,293
<br />-
<br />43,847
<br />Total assets
<br />$ 5,269,121
<br />$ 7,204,820
<br />$ 3,746,529
<br />$ (233,820)
<br />$ 15,986,650
<br />Liabilities
<br />Accounts payable
<br />$ 110,610
<br />$ 67,519
<br />$ 21,277
<br />$ -
<br />$ 199,406
<br />Salaries payable
<br />95,770
<br />-
<br />-
<br />-
<br />95,770
<br />Deposits payable
<br />974,885
<br />-
<br />-
<br />-
<br />974,885
<br />Interfund payable
<br />-
<br />-
<br />233,820
<br />(233,820)
<br />-
<br />Due to other governmental units
<br />17,051
<br />121,551
<br />659
<br />-
<br />139,261
<br />Unearned revenue
<br />59,745
<br />-
<br />136,436
<br />-
<br />196,181
<br />Total liabilities
<br />1,258,061
<br />189,070
<br />392,192
<br />(233,820)
<br />1,605,503
<br />Deferred inflows of resources
<br />Unavailable revenue - taxes
<br />22,514
<br />-
<br />750
<br />-
<br />23,264
<br />Unavailable revenue - special assessments
<br />3,628
<br />1,123,481
<br />-
<br />-
<br />1,127,109
<br />Lease revenues for subsequent years
<br />779,183
<br />-
<br />-
<br />-
<br />779,183
<br />State aid received for subsequent years
<br />-
<br />287,064
<br />-
<br />-
<br />287,064
<br />Total deferred inflows of resources
<br />805,325
<br />1,410,545
<br />750
<br />-
<br />2,216,620
<br />Fund balances (deficits)
<br />Nonspendable 39,554 -
<br />4,293 -
<br />43,847
<br />Restricted - -
<br />2,103,255 -
<br />2,103,255
<br />Committed - -
<br />713,987 -
<br />713,987
<br />Assigned 287,553 5,605,205
<br />751,632 -
<br />6,644,390
<br />Unassigned 2,878,628 -
<br />(219,580) -
<br />2,659,048
<br />Total fund balances 3,205,735 5,605,205
<br />3,353,587 -
<br />12,164,527
<br />Total liabilities, deferred inflows
<br />of resources, and fund balances $ 5,269,121 $ 7,204,820
<br />$ 3,746,529 $ (233,820)
<br />$ 15,986,650
<br />Fund balances reported above
<br />$ 12,164,527
<br />Amounts reported for governmental activities in the Statement of Net Position are different because:
<br />Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the
<br />funds.
<br />Nondepreciable
<br />4,293,959
<br />Depreciable, net of accumulated depreciation
<br />23,980,939
<br />Internal service funds are used to allocate costs to individual funds. Net position is included in governmental activities in the Statement of Net
<br />Position.
<br />185,186
<br />Certain long-term obligations are not payable with current financial resources and, therefore, are not reported in governmental funds.
<br />Compensated absences (105,483)
<br />Net pension liability (798,005)
<br />The recognition of certain revenues and expenses/expenditures differ between the full accrual governmental activities financial statements and the
<br />modified accrual governmental fund financial statements.
<br />Deferred outflows of resources - pension plans 260,510
<br />Deferred inflows of resources - pension plans (282,074)
<br />Deferred inflows of resources - unavailable revenues (taxes, special assessments, and long-term receivable) 1,150,373
<br />Net position of governmental activities $ 40,849,932
<br />See notes to basic financial statements -1 %-
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