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CITY OF GEM LAKE, MINNESOTA
<br />BALANCE SHEET
<br />GOVERNMENTAL FUNDS
<br />DECEMBER 31, 2018
<br />(WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2017)
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(6)
<br />
<br />G.O. Capital G.O. Capital 2018
<br />Improvement Improvement Hoffman Schueneman Street Other Total
<br />General Plan Bonds Plan Bonds Road Road Improvements Governmental Governmental 2017
<br />Fund Series 2007A Series 2018A Fund Fund Fund Funds Funds Totals
<br />ASSETS
<br />Cash and Investments 424,252$ 130,264$ 12,631$ -$ 57,149$ 216,407$ 40,435$ 881,138$ 699,701$
<br />Taxes Receivable 6,424 1,468 - - - - - 7,892 26,131
<br />Special Assessments Receivable 490 - 610,170 406,738 - 6,916 - 1,024,314 436,167
<br />Accounts Receivable 12,741 - - - - - - 12,741 8,090
<br />Due from Other Governments 1,722 - - - - - - 1,722 1,719
<br />Accrued Interest Receivable 343 92 - (407) 39 227 47 341 35
<br />Due from Other Funds - - - - - - - - 1,398
<br />Prepaid Items 991 - - - - - - 991 5,666
<br />Total Assets 446,963$ 131,824$ 622,801$ 406,331$ 57,188$ 223,550$ 40,482$ 1,929,139$ 1,178,907$
<br />LIABILITIES, DEFERRED INFLOWS OF
<br />RESOURCES, AND FUND BALANCES
<br />LIABILITIES
<br />Vouchers and Accounts Payable 27,024$ -$ -$ -$ 1,520$ -$ 8,504$ 37,048$ 50,793$
<br />Payroll Deductions 641 - - - - - - 641 519
<br />Due to Other Governments 11,441 - - - - - - 11,441 4,573
<br />Unearned Revenue 8,600 - - - - - - 8,600 7,700
<br />Due to Other Funds - - - 317,094 - - - 317,094 364,257
<br />Total Liabilities 47,706 - - 317,094 1,520 - 8,504 374,824 427,842
<br />DEFERRED INFLOWS OF RESOURCES
<br />Unavailable Resources 4,342 880 610,170 369,472 - 6,916 - 991,780 452,615
<br />FUND BALANCES
<br />Nonspendable 991 - - - - - - 991 5,666
<br />Restricted:
<br />Debt Service - 130,944 12,631 - - - - 143,575 170,321
<br />Park Improvements - - - - - - 31,978 31,978 40,125
<br />Street Projects - - - - 55,668 - - 55,668 -
<br />Assigned:
<br />Individual Property Owners - - - - - 216,634 - 216,634 134,172
<br />Unassigned 393,924 - - (280,235) - - - 113,689 (51,834)
<br />Total Fund Balances 394,915 130,944 12,631 (280,235) 55,668 216,634 31,978 562,535 298,450
<br />Resources, and Fund Balances
<br /> Resources, and Fund Balances 446,963$ 131,824$ 622,801$ 406,331$ 57,188$ 223,550$ 40,482$ 1,929,139$ 1,178,907$
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