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Governmental Business-Type
<br />Activities Activities Total
<br />
<br />Assets
<br />Cash and investments 1,002,597$ 400,543$ 1,403,140$
<br />Receivables
<br />Accounts 1,706 34,833 36,539
<br />Accrued interest 1,715 860 2,575
<br />Property taxes 15,497 – 15,497
<br />Special assessments 835,471 – 835,471
<br />Due from other governments 2,356 75 2,431
<br />Prepaid items 1,137 3,237 4,374
<br />Capital assets
<br />Not being depreciated 11,353 – 11,353
<br />Depreciated, net of accumulated depreciation 1,509,659 1,291,806 2,801,465
<br />Total assets 3,381,491$ 1,731,354$ 5,112,845$
<br />Liabilities
<br />Accounts and contracts payable 39,156$ 8,633$ 47,789$
<br />Accrued interest payable 14,669 – 14,669
<br />Due to other governments 4,395 8,714 13,109
<br />Accrued salaries payable 750 – 750
<br />Deposits payable 14,693 – 14,693
<br />Unearned revenue 1,900 – 1,900
<br />Long-term liabilities
<br />Amounts due in one year 95,000 – 95,000
<br />Amounts due in more than one year 1,081,081 – 1,081,081
<br />Total liabilities 1,251,644 17,347 1,268,991
<br />Net position
<br />Net investment in capital assets 344,931 1,291,806 1,636,737
<br />Restricted for debt service 720,402 – 720,402
<br />Restricted for park improvements 44,694 – 44,694
<br />Unrestricted 1,019,820 422,201 1,442,021
<br />Total net position 2,129,847 1,714,007 3,843,854
<br />Total liabilities and net position 3,381,491$ 1,731,354$ 5,112,845$
<br />CITY OF GEM LAKE
<br />Statement of Net Position
<br />December 31, 2020
<br />See notes to basic financial statements -4-
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