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CITY OF GEM LAKE, MINNESOTA
<br />BALANCE SHEET
<br />GOVERNMENTAL FUNDS
<br />DECEMBER 31, 2017
<br />(WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2016)
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(6)
<br />
<br />G.O. Capital 2017
<br />Improvement Hoffman Street Other Total
<br />General Plan Bonds Road Improvements Governmental Governmental 2016
<br />Fund Series 2007A Fund Fund Funds Funds Totals
<br />ASSETS
<br />Cash and Investments 356,765$ 118,242$ 31$ 134,133$ 90,530$ 699,701$ 565,337$
<br />Taxes Receivable 21,163 4,968 - - - 26,131 21,317
<br />Special Assessments Receivable 630 - 419,786 - 15,751 436,167 491,601
<br />Accounts Receivable 8,090 - - - - 8,090 6,828
<br />Due from Other Governments 1,719 - - - - 1,719 856
<br />Accrued Interest Receivable 53 28 (112) 39 27 35 498
<br />Due from Other Funds 1,398 - - - - 1,398 1,464
<br />Prepaid Items 666 - - - 5,000 5,666 926
<br />Total Assets 390,484$ 123,238$ 419,705$ 134,172$ 111,308$ 1,178,907$ 1,088,827$
<br />LIABILITIES, DEFERRED INFLOWS OF
<br />RESOURCES, AND FUND BALANCES
<br />LIABILITIES
<br />Vouchers and Accounts Payable 34,508$ -$ -$ -$ 16,285$ 50,793$ 8,954$
<br />Payroll Deductions 519 - - - - 519 484
<br />Due to Other Governments 4,573 - - - - 4,573 3,065
<br />Unearned Revenue 7,700 - - - - 7,700 11,300
<br />Due to Other Funds - - 357,389 - 6,868 364,257 398,716
<br />Total Liabilities 47,300 - 357,389 - 23,153 427,842 422,519
<br />DEFERRED INFLOWS OF RESOURCES
<br />Unavailable Resources 14,043 3,346 419,475 - 15,751 452,615 497,799
<br />FUND BALANCES
<br />Nonspendable 666 - - - 5,000 5,666 926
<br />Restricted:
<br />Debt Service - 119,892 - - 50,429 170,321 171,682
<br />Park Improvements - - - - 40,125 40,125 39,872
<br />Street Projects - - - - - - 3,194
<br />Assigned:
<br />Individual Property Owners - - - 134,172 - 134,172 133,325
<br />Unassigned 328,475 - (357,159) - (23,150) (51,834) (180,490)
<br />Total Fund Balances 329,141 119,892 (357,159) 134,172 72,404 298,450 168,509
<br />Resources, and Fund Balances
<br /> Resources, and Fund Balances 390,484$ 123,238$ 419,705$ 134,172$ 111,308$ 1,178,907$ 1,088,827$
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