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Governmental Business-Type
<br />Activities Activities Total
<br />
<br />Assets
<br />Cash and investments 886,953$ 406,715$ 1,293,668$
<br />Receivables
<br />Accounts 1,706 33,415 35,121
<br />Accrued interest 1,823 809 2,632
<br />Property taxes 12,184 – 12,184
<br />Special assessments 759,754 – 759,754
<br />Due from other governments 3,304 4 3,308
<br />Prepaid items 122,690 6,375 129,065
<br />Capital assets
<br />Not being depreciated 229,777 – 229,777
<br />Depreciated, net of accumulated depreciation 1,424,756 1,262,271 2,687,027
<br />Total assets 3,442,947$ 1,709,589$ 5,152,536$
<br />Liabilities
<br />Accounts and contracts payable 149,823$ 8$ 149,831$
<br />Accrued interest payable 13,719 – 13,719
<br />Due to other governments 8,280 679 8,959
<br />Accrued salaries payable 2,392 – 2,392
<br />Deposits payable 14,893 – 14,893
<br />Unearned revenue 14,202 – 14,202
<br />Long-term liabilities
<br />Amounts due in one year 105,000 – 105,000
<br />Amounts due in more than one year 974,799 – 974,799
<br />Total liabilities 1,283,108 687 1,283,795
<br />Net position
<br />Net investment in capital assets 462,018 1,262,271 1,724,289
<br />Restricted for debt service 707,333 – 707,333
<br />Restricted for park improvements 44,290 – 44,290
<br />Unrestricted 946,198 446,631 1,392,829
<br />Total net position 2,159,839 1,708,902 3,868,741
<br />Total liabilities and net position 3,442,947$ 1,709,589$ 5,152,536$
<br />CITY OF GEM LAKE
<br />Statement of Net Position
<br />December 31, 2021
<br />See notes to basic financial statements -5-
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