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G.O. Capital G.O. Capital <br />Improvement Improvement <br />Plan Bonds Plan Bonds Hoffman <br />General Series 2007A Series 2018A Road <br />Revenue <br />Property taxes 472,092$ 80,842$ 4,038$ –$ <br />Special assessments 754 – 74,548 – <br />Intergovernmental 9,885 – – – <br />Licenses and permits 31,439 – – – <br />Fines and forfeitures 620 – – – <br />Charges for services 1,662 – – – <br />Investment earnings 8,476 1,214 200 – <br />Facility rental 3,594 – – – <br />Miscellaneous 3,019 – 379 – <br />Total revenue 531,541 82,056 79,165 – <br />Expenditures <br />Current <br />General government 141,395 – – – <br />Public safety 106,319 – – – <br />Public works 48,720 – – – <br />Conservation and development 57,187 – – – <br />Capital outlay – – – – <br />Debt service <br />Principal – 60,000 30,000 – <br />Interest and fiscal charges – 17,815 25,751 – <br />Total expenditures 353,621 77,815 55,751 – <br />Excess (deficiency) of revenue <br /> over expenditures 177,920 4,241 23,414 – <br />Other financing sources (uses) <br />Transfers in – – – 232,018 <br />Transfers (out)(410,000) – – – <br />Total other financing <br /> sources (uses)(410,000) – – 232,018 <br />Net change in fund balances (232,080) 4,241 23,414 232,018 <br />Fund balances (deficit) <br />Beginning of year 495,267 124,902 59,225 (232,018) <br />End of year 263,187$ 129,143$ 82,639$ –$ <br />CITY OF GEM LAKE <br />Statement of Revenue, Expenditures, and Changes in Fund Balances <br />Governmental Funds <br />Year Ended December 31, 2020 <br />See notes to basic financial statements -10-