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CITY OF GEM LAKE, MINNESOTA <br />NOTE TO REQUIRED SUPPLEMENTARY INFORMATION <br />DECEMBER 31, 2014 <br /> <br /> <br /> <br />(31) <br /> <br />STEWARDSHIP COMPLIANCE AND ACCOUNTABILITY - BUDGET <br />The General Fund budget is legally adopted on a basis consistent with U.S. generally accepted <br />accounting principles. Actual expenditures exceed budgets during 2014 by $32,123. These over <br />expenditures were funded by greater than anticipated revenues. <br /> <br />