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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGE IN NET POSITION
<br />PROPRIETARY FUND
<br />YEAR ENDED DECEMBER 31, 2018
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<br />See accompanying Notes to Basic Financial Statements.
<br />(11)
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<br />2018 2018
<br />Sewer Water 2018 2017
<br />Utility Utility Totals Totals
<br />OPERATING REVENUES
<br />Public Charges for Services 58,137$ 10,040$ 68,177$ 56,140$
<br />OPERATING EXPENSES
<br />Operating Expenses 78,150 11,346 89,496 42,470
<br />Depreciation 13,917 9,827 23,744 12,457
<br />Total Operating Expenses 92,067 21,173 113,240 54,927
<br />OPERATING INCOME (33,930) (11,133) (45,063) 1,213
<br />NONOPERATING REVENUES
<br />Interest Revenue 4,056 16 4,072 3,170
<br />INCOME BEFORE TRANSFERS (29,874) (11,117) (40,991) 4,383
<br />CAPITAL CONTRIBUTIONS AND TRANSFERS
<br />Capital Contributions 157,757 159,016 316,773
<br />Transfers In - 405,805 405,805 -
<br />Total Contributions 157,757 564,821 722,578 -
<br />CHANGE IN NET POSITION 127,883 553,704 681,587 4,383
<br />Net Position - Beginning of Year 932,129 - 932,129 927,746
<br />NET POSITION - END OF YEAR 1,060,012$ 553,704$ 1,613,716$ 932,129$
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