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Governmental Business-Type
<br />Activities Activities Total
<br />
<br />Assets
<br />Cash and investments 903,694$ 396,298$ 1,299,992$
<br />Receivables
<br />Accounts 12,039 19,922 31,961
<br />Accrued interest 1,659 842 2,501
<br />Property taxes 8,270 – 8,270
<br />Special assessments 679,261 – 679,261
<br />Due from other governments 2,918 – 2,918
<br />Prepaid items 121,627 4,458 126,085
<br />Capital assets
<br />Not being depreciated 2,500 – 2,500
<br />Depreciated, net of accumulated depreciation 1,562,646 1,232,736 2,795,382
<br />Total assets 3,294,614$ 1,654,256$ 4,948,870$
<br />Liabilities
<br />Accounts and contracts payable 16,241$ 63$ 16,304$
<br />Accrued interest payable 12,664 – 12,664
<br />Due to other governments 9,462 1,144 10,606
<br />Accrued salaries payable 2,769 – 2,769
<br />Deposits payable 19,890 – 19,890
<br />Unearned revenue 41,323 – 41,323
<br />Long-term liabilities
<br />Amounts due in one year 105,000 – 105,000
<br />Amounts due in more than one year 868,517 – 868,517
<br />Total liabilities 1,075,866 1,207 1,077,073
<br />Net position
<br />Net investment in capital assets 591,629 1,232,736 1,824,365
<br />Restricted for debt service 672,290 – 672,290
<br />Restricted for park improvements 54,511 – 54,511
<br />Unrestricted 900,318 420,313 1,320,631
<br />Total net position 2,218,748 1,653,049 3,871,797
<br />Total liabilities and net position 3,294,614$ 1,654,256$ 4,948,870$
<br />CITY OF GEM LAKE
<br />Statement of Net Position
<br />December 31, 2022
<br />See notes to basic financial statements -5-
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