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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />DECEMBER 31, 2017
<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 699,701$ 96,359$ 796,060$
<br />Taxes Receivable 26,131 - 26,131
<br />Special Assessments Receivable 436,167 901 437,068
<br />Accounts Receivable 8,090 16,337 24,427
<br />Due from Other Governments 1,719 - 1,719
<br />Accrued Interest 35 129 164
<br />Prepaid Items 5,666 2,250 7,916
<br />Internal Balances (362,859) 362,859 -
<br />Capital Assets:
<br />Capital Assets Not Being Depreciated 19,964 - 19,964
<br />Capital Assets Being Depreciated 2,046,271 617,539 2,663,810
<br />Accumulated Depreciation (753,024) (161,714) (914,738)
<br />Total Assets 2,127,861 934,660 3,062,521
<br />LIABILITIES
<br />Vouchers and Accounts Payable 50,793 22 50,815
<br />Accrued Interest Payable 6,721 - 6,721
<br />Due to Other Governments 4,573 2,509 7,082
<br />Payroll Taxes and Withholdings 519 - 519
<br />Unearned Revenue 7,700 - 7,700
<br />Long-Term Liabilities:
<br />Amounts Due Within One Year 60,000 - 60,000
<br />Amounts Due in More than One Year 655,000 - 655,000
<br />Total Liabilities 785,306 2,531 787,837
<br />NET POSITION
<br />Net Investment in Capital Assets 598,211 455,825 1,054,036
<br />Restricted for Debt Service 181,301 - 181,301
<br />Restricted for Park Improvements 40,125 - 40,125
<br />Unrestricted 522,918 476,304 999,222
<br />Total Net Position 1,342,555$ 932,129$ 2,274,684$
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