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CITY OF GEM LAKE, MINNESOTA <br />STATEMENT OF REVENUES, EXPENSES, AND CHANGE IN NET POSITION <br />PROPRIETARY FUNDS <br />YEAR ENDED DECEMBER 31, 2019 <br /> <br /> <br /> <br />See accompanying Notes to Basic Financial Statements. <br />(11) <br /> <br />Sewer Water 2019 <br />Utility Utility Totals <br />OPERATING REVENUES <br />Public Charges for Services 65,428$ 37,538$ 102,966$ <br />OPERATING EXPENSES <br />Operating Expenses 40,451 42,688 83,139 <br />Depreciation 16,065 12,524 28,589 <br />Total Operating Expenses 56,516 55,212 111,728 <br />OPERATING INCOME 8,912 (17,674) (8,762) <br />NONOPERATING REVENUES <br />Interest Revenue 8,981 (95) 8,886 <br />INCOME BEFORE CAPITAL <br />CONTRIBUTIONS AND TRANSFERS 17,893 (17,769) 124 <br />CAPITAL CONTRIBUTIONS AND <br /> TRANSFERS <br />Capital Contributions 20,886 130,343 151,229 <br />CHANGE IN NET POSITION 38,779 112,574 151,353 <br />Net Position - Beginning of Year 1,060,012 553,704 1,613,716 <br />NET POSITION - END OF YEAR 1,098,791$ 666,278$ 1,765,069$ <br />