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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUND
<br />DECEMBER 31, 2018
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<br />See accompanying Notes to Basic Financial Statements.
<br />(10)
<br />Sewer Water 2018
<br />Utility Utility Totals
<br />ASSETS
<br />Cash and Cash Equivalents 133,015$ -$ 133,015$
<br />Customer Accounts Receivable 15,407 - 15,407
<br />Accrued Interest Receivable 546 2 548
<br />Special Assessments Receivable 3,317 - 3,317
<br />Due From Other Funds 334,528 - 334,528
<br />Prepaid Items 2,298 - 2,298
<br />Total Current Assets 489,111 2 489,113
<br />Capital Assets:
<br />Utility Plant in Service 792,792 593,609 1,386,401
<br />Accumulated Depreciation (175,631) (22,378) (198,009)
<br />Net Capital Assets 617,161 571,231 1,188,392
<br />Total Assets 1,106,272 571,233 1,677,505
<br />LIABILITIES
<br />Accounts Payable 41,290 63 41,353
<br />Due to Other Governments 4,970 32 5,002
<br />Due to Other Funds - 17,434 17,434
<br />Total Liabilities 46,260 17,529 63,789
<br />NET POSITION
<br />Net Investment in Capital Assets 617,161 571,231 1,188,392
<br />Unrestricted 442,851 (17,527) 425,324
<br />Total Net Position 1,060,012$ 553,704$ 1,613,716$
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