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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, 2018
<br />(WITH SUMMARIZED FINANCIAL INFORMATION FOR YEAR ENDED DECEMBER 31, 2017)
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(8)
<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 />REVENUES
<br />Taxes 379,124$ 86,578$ -$ -$ -$ -$ -$ 465,702$ 434,949$
<br />Special Assessments 868 - - 79,636 - - 13,120 93,624 37,993
<br />Intergovernmental 15,817 - - - - - - 15,817 16,619
<br />Licenses and Permits 50,362 - - - - - - 50,362 45,772
<br />Fines and Forfeits 1,145 - - - - - - 1,145 1,072
<br />Public Charges for Services 48,650 - - - - - - 48,650 36,949
<br />Miscellaneous:
<br />Earnings (Loss) on Investments 2,504 678 - (3,054) 155 1,438 627 2,348 23
<br />Other 19,143 1,622 - 342 - - - 21,107 14,918
<br />Total Revenues 517,613 88,878 - 76,924 155 1,438 13,747 698,755 588,295
<br />EXPENDITURES
<br />Current:
<br />General Government 148,709 - - - - - - 148,709 129,980
<br />Public Safety 80,122 - - - - - - 80,122 121,247
<br />Public Works 71,983 - - - - - - 71,983 30,952
<br />Conservation and Development 131,025 - - - - - 8,504 139,529 78,121
<br />Capital Outlay - - - - 541,567 - - 541,567 19,965
<br />Debt Service:
<br />Principal - 60,000 - - - - - 60,000 60,000
<br />Interest and Fiscal Charges - 17,826 - - 52,762 - 1,399 71,987 18,089
<br />Total Expenditures 431,839 77,826 - - 594,329 - 9,903 1,113,897 458,354
<br />EXCESS OF REVENUES OVER
<br /> (UNDER) EXPENDITURES 85,774 11,052 - 76,924 (594,174) 1,438 3,844 (415,142) 129,941
<br />OTHER FINANCING SOURCES (USES)
<br />Transfers In - - - - - 81,024 - 81,024 -
<br />Transfers Out (20,000) - - - - - (61,024) (81,024) -
<br />Issuance of Bonds - - 12,631 - 647,369 - 660,000 -
<br />Bond Premium - - - - 19,227 - - 19,227 -
<br />Total Other Financing Sources (Uses)(20,000) - 12,631 - 666,596 81,024 (61,024) 679,227 -
<br />NET CHANGE IN FUND BALANCES 65,774 11,052 12,631 76,924 72,422 82,462 (57,180) 264,085 129,941
<br />Fund Balances - Beginning of Year 329,141 119,892 - (357,159) (16,754) 134,172 89,158 298,450 168,509
<br />FUND BALANCES - END OF YEAR 394,915$ 130,944$ 12,631$ (280,235)$ 55,668$ 216,634$ 31,978$ 562,535$ 298,450$
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