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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
<br />GOVERNMENTAL FUNDS
<br />YEAR ENDED DECEMBER 31, 2017
<br />(WITH SUMMARIZED FINANCIAL INFORMATION FOR YEAR ENDED DECEMBER 31, 2016)
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(8)
<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 />REVENUES
<br />Taxes 359,657$ 75,292$ -$ -$ -$ 434,949$ 292,379$
<br />Special Assessments - - 37,474 - 519 37,993 81,120
<br />Intergovernmental 16,619 - - - - 16,619 9,796
<br />Licenses and Permits 45,772 - - - - 45,772 34,108
<br />Fines and Forfeits 1,072 - - - - 1,072 3,210
<br />Public Charges for Services 36,949 - - - - 36,949 5,705
<br />Miscellaneous:
<br />Earnings (Loss) on Investments 869 640 (2,948) 847 615 23 (377)
<br />Other 14,918 - - - - 14,918 17,084
<br />Total Revenues 475,856 75,932 34,526 847 1,134 588,295 443,025
<br />EXPENDITURES
<br />Current:
<br />General Government 129,980 - - - - 129,980 134,037
<br />Public Safety 121,247 - - - - 121,247 119,793
<br />Public Works 30,952 - - - - 30,952 37,508
<br />Conservation and Development 78,121 - - - - 78,121 51,122
<br />Capital Outlay - - - - 19,965 19,965 323,988
<br />Debt Service:
<br />Principal - 60,000 - - - 60,000 745,000
<br />Interest and Fiscal Charges - 17,055 - - 1,034 18,089 35,421
<br />Total Expenditures 360,300 77,055 - - 20,999 458,354 1,446,869
<br />NET CHANGE IN FUND BALANCES 115,556 (1,123) 34,526 847 (19,865) 129,941 (1,003,844)
<br />Fund Balances - Beginning of Year 213,585 121,015 (391,685) 133,325 92,269 168,509 1,172,353
<br />FUND BALANCES - END OF YEAR 329,141$ 119,892$ (357,159)$ 134,172$ 72,404$ 298,450$ 168,509$
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