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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />DECEMBER 31, 2018
<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 881,138$ 133,015$ 1,014,153$
<br />Taxes Receivable 7,892 - 7,892
<br />Special Assessments Receivable 1,024,314 3,317 1,027,631
<br />Accounts Receivable 12,741 15,407 28,148
<br />Due from Other Governments 1,722 - 1,722
<br />Accrued Interest 341 548 889
<br />Prepaid Items 991 2,298 3,289
<br />Internal Balances (317,094) 317,094 -
<br />Capital Assets:
<br />Capital Assets Not Being Depreciated 561,531 - 561,531
<br />Capital Assets Being Depreciated 2,009,663 1,386,401 3,396,064
<br />Accumulated Depreciation (809,697) (198,009) (1,007,706)
<br />Total Assets 3,373,542 1,660,071 5,033,613
<br />LIABILITIES
<br />Vouchers and Accounts Payable 37,048 41,353 78,401
<br />Accrued Interest Payable 17,559 - 17,559
<br />Due to Other Governments 11,441 5,002 16,443
<br />Payroll Taxes and Withholdings 641 - 641
<br />Unearned Revenue 8,600 - 8,600
<br />Long-Term Liabilities:
<br />Amounts Due Within One Year 65,000 - 65,000
<br />Amounts Due in More than One Year 1,268,645 - 1,268,645
<br />Total Liabilities 1,408,934 46,355 1,455,289
<br />NET POSITION
<br />Net Investment in Capital Assets 500,119 1,188,392 1,688,511
<br />Restricted for Debt Service 126,896 - 126,896
<br />Restricted for Park Improvements 31,978 - 31,978
<br />Unrestricted 1,305,615 425,324 1,730,939
<br />Total Net Position 1,964,608$ 1,613,716$ 3,578,324$
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