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CITY OF GEM LAKE, MINNESOTA <br />STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE <br />GOVERNMENTAL FUNDS <br />YEAR ENDED DECEMBER 31, 2014 <br />(WITH SUMMARIZED FINANCIAL INFORMATION FOR YEAR ENDED DECEMBER 31, 2013) <br /> <br /> <br /> <br />See accompanying Notes to Basic Financial Statements. <br />(9) <br /> <br />G.O. G.O. <br />Improvement Improvement <br />General Bonds Bonds <br />Fund Series 2004A Series 2006A <br />REVENUES <br />Taxes 186,063$ -$ -$ <br />Special Assessments - 30,704 15,030 <br />Intergovernmental 3,393 - - <br />Licenses and Permits 57,674 - - <br />Fines and Forfeits 3,048 - - <br />Public Charges for Services 7,616 - - <br />Miscellaneous: <br />Earnings (Loss) on Investments 2,877 (1,234) (626) <br />Other 21,252 - - <br />Total Revenues 281,923 29,470 14,404 <br />EXPENDITURES <br />Current: <br />General Government 107,590 - - <br />Public Safety 109,973 - - <br />Public Works 79,801 - - <br />Conservation and Development 50,892 - - <br />Capital Outlay - - - <br />Debt Service: <br />Principal - - - <br />Interest and Fiscal Charges - - - <br />Total Expenditures 348,256 - - <br />EXCESS OF REVENUES OVER <br /> (UNDER) EXPENDITURES (66,333) 29,470 14,404 <br />Fund Balances - Beginning of Year 388,010 (55,408) 3,146 <br />FUND BALANCES - END OF YEAR 321,677$ (25,938)$ 17,550$ <br />