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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />DECEMBER 31, 2015
<br />
<br />
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(4)
<br />
<br />Governmental
<br />Activities
<br />Business-Type
<br />Activities Total
<br />ASSETS
<br />Cash and Investments 462,297$ 412,733$ 875,030$
<br />Cash with Fiscal Agent 740,503 - 740,503
<br />Taxes Receivable 14,282 - 14,282
<br />Special Assessments Receivable 541,856 3,565 545,421
<br />Accounts Receivable 5,972 22,226 28,198
<br />Due from Other Governments 1,153 - 1,153
<br />Accrued Interest 2,474 2,008 4,482
<br />Prepaid Items 633 2,342 2,975
<br />Capital Assets:
<br />Capital Assets Not Being Depreciated 94,367 - 94,367
<br />Capital Assets Being Depreciated 1,627,915 617,539 2,245,454
<br />Accumulated Depreciation (616,522) (136,800) (753,322)
<br />Total Assets 2,998,305 923,613 3,921,918
<br />LIABILITIES
<br />Vouchers and Accounts Payable 20,233 15 20,248
<br />Accrued Interest Payable 13,356 - 13,356
<br />Due to Other Governments 137,410 2,460 139,870
<br />Payroll Taxes and Withholdings 387 - 387
<br />Unearned Revenue 11,300 - 11,300
<br />Long-Term Liabilities:
<br />Amounts Due Within One Year 745,000 - 745,000
<br />Amounts Due in More than One Year 769,256 - 769,256
<br />Total Liabilities 1,696,942 2,475 1,699,417
<br />NET POSITION
<br />Net Investment in Capital Assets 366,504 480,739 847,243
<br />Restricted for Debt Service 108,639 - 108,639
<br />Restricted for Park Improvements 39,462 - 39,462
<br />Restricted for Street Projects 3,161 - 3,161
<br />Unrestricted 783,597 440,399 1,223,996
<br />Total Net Position 1,301,363$ 921,138$ 2,222,501$
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