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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />DECEMBER 31, 2014
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<br />See accompanying Notes to Basic Financial Statements.
<br />(4)
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<br />Governmental
<br />Activities
<br />Business-Type
<br />Activities Total
<br />ASSETS
<br />Cash and Investments 572,282$ 380,464$ 952,746$
<br />Taxes Receivable 17,176 - 17,176
<br />Special Assessments Receivable 73,180 3,384 76,564
<br />Accounts Receivable 8,577 20,562 29,139
<br />Due from Other Governments 958 - 958
<br />Accrued Interest 3,933 2,716 6,649
<br />Prepaid Items 931 1,970 2,901
<br />Capital Assets:
<br />Capital Assets Being Depreciated 1,627,915 617,539 2,245,454
<br />Accumulated Depreciation (553,896) (124,343) (678,239)
<br />Total Assets 1,751,056 902,292 2,653,348
<br />LIABILITIES
<br />Vouchers and Accounts Payable 22,866 - 22,866
<br />Accrued Interest Payable 13,606 - 13,606
<br />Due to Other Governments 3,586 30 3,616
<br />Payroll Taxes and Withholdings - - -
<br />Unearned Revenue 7,400 - 7,400
<br />Long-Term Liabilities:
<br />Amounts Due Within One Year 15,000 - 15,000
<br />Amounts Due in More than One Year 738,793 - 738,793
<br />Total Liabilities 801,251 30 801,281
<br />NET POSITION
<br />Net Investment in Capital Assets 320,226 493,196 813,422
<br />Restricted for Debt Service 170,831 - 170,831
<br />Restricted for Park Improvements 39,125 - 39,125
<br />Unrestricted 419,623 409,066 828,689
<br />Total Net Position 949,805$ 902,262$ 1,852,067$
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