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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />DECEMBER 31, 2019
<br />
<br />
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(10)
<br />
<br />Sewer Water 2019
<br />Utility Utility Totals
<br />ASSETS
<br />Cash and Cash Equivalents 216,986$ -$ 216,986$
<br />Customer Accounts Receivable 18,151 1,080 19,231
<br />Accrued Interest Receivable 209 - 209
<br />Special Assessments Receivable 6,896 - 6,896
<br />Due From Other Funds 245,231 - 245,231
<br />Prepaid Items 2,826 - 2,826
<br />Total Current Assets 490,299 1,080 491,379
<br />Capital Assets:
<br />Utility Plant in Service 813,678 723,952 1,537,630
<br />Accumulated Depreciation (191,696) (34,902) (226,598)
<br />Net Capital Assets 621,982 689,050 1,311,032
<br />Total Assets 1,112,281 690,130 1,802,411
<br />LIABILITIES
<br />Accounts Payable 7 - 7
<br />Due to Other Governments 13,483 12,248 25,731
<br />Due to Other Funds - 11,604 11,604
<br />Total Liabilities 13,490 23,852 37,342
<br />NET POSITION
<br />Net Investment in Capital Assets 621,982 689,050 1,311,032
<br />Unrestricted 476,809 (22,772) 454,037
<br />Total Net Position 1,098,791$ 666,278$ 1,765,069$
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