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CITY OF GEM LAKE, MINNESOTA
<br />BALANCE SHEET
<br />GOVERNMENTAL FUNDS
<br />DECEMBER 31, 2019
<br />(WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2018)
<br />
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(6)
<br />
<br />G.O. Capital G.O. Capital 2019
<br />Improvement Improvement Hoffman Schueneman Street Parks and Total
<br />General Plan Bonds Plan Bonds Road Road Improvements Playground Governmental 2018
<br />Fund Series 2007A Series 2018A Fund Fund Fund Fund Funds Totals
<br />ASSETS
<br />Cash and Investments 512,263$ 123,535$ 60,603$ -$ 426$ 241,993$ 45,499$ 984,319$ 881,138$
<br />Taxes Receivable 18,621 3,667 12 - - - - 22,300 7,892
<br />Special Assessments Receivable 630 - 578,741 335,793 - 6,916 - 922,080 1,024,314
<br />Accounts Receivable 12,648 - - - - - - 12,648 12,741
<br />Due from Other Governments 2,506 - - - - - - 2,506 1,722
<br />Accrued Interest Receivable 681 151 59 - 11 295 56 1,253 341
<br />Due from Other Funds 2,647 - - - - - - 2,647 -
<br />Prepaid Items 1,050 - - - - - - 1,050 991
<br />Total Assets 551,046$ 127,353$ 639,415$ 335,793$ 437$ 249,204$ 45,555$ 1,948,803$ 1,929,139$
<br />LIABILITIES, DEFERRED INFLOWS OF
<br />RESOURCES, AND FUND BALANCES
<br />LIABILITIES
<br />Vouchers and Accounts Payable 26,646$ 850$ 850$ -$ -$ -$ 238$ 28,584$ 37,048$
<br />Payroll Deductions 769 - - - - - - 769 641
<br />Due to Other Governments 7,157 - - - - - - 7,157 11,441
<br />Unearned Revenue 9,400 - - - - - - 9,400 8,600
<br />Due to Other Funds - - - 233,627 2,647 - - 236,274 317,094
<br />Total Liabilities 43,972 850 850 233,627 2,647 - 238 282,184 374,824
<br />DEFERRED INFLOWS OF RESOURCES
<br />Unavailable Resources 11,807 1,601 579,340 334,184 - 6,916 - 933,848 991,780
<br />FUND BALANCES
<br />Nonspendable 1,050 - - - - - - 1,050 991
<br />Restricted:
<br />Debt Service - 124,902 59,225 - - - - 184,127 143,575
<br />Park Improvements - - - - - - 45,317 45,317 31,978
<br />Street Projects - - - - - - - - 55,668
<br />Assigned:
<br />Capital Improvements Benefiting
<br />Individual Property Owners - - - - - 242,288 - 242,288 216,634
<br />Unassigned 494,217 - - (232,018) (2,210) - - 259,989 113,689
<br />Total Fund Balances 495,267 124,902 59,225 (232,018) (2,210) 242,288 45,317 732,771 562,535
<br />Total Liabilities, Deferred Inflows of
<br /> Resources, and Fund Balances 551,046$ 127,353$ 639,415$ 335,793$ 437$ 249,204$ 45,555$ 1,948,803$ 1,929,139$
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