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G.O. Capital G.O. Capital
<br />Improvement Improvement
<br />Plan Bonds Plan Bonds Street
<br />General Series 2015A Series 2018A Improvements
<br />Assets
<br />Cash and investments 379,587$ 63,950$ 51,771$ 353,989$
<br />Receivables
<br />Accounts 12,039 – – –
<br />Accrued interest 510 167 117 751
<br />Property taxes
<br />Current 2,006 339 34 –
<br />Delinquent 4,970 764 157 –
<br />Special assessments
<br />Delinquent 1,080 – 40,678 34,880
<br />Deferred – – 406,781 195,842
<br />Due from other governments 2,918 – – –
<br />Prepaid items 1,431 70,346 49,850 –
<br />Total assets 404,541$ 135,566$ 549,388$ 585,462$
<br />Liabilities
<br />Accounts and contracts payable 14,191$ –$ –$ 2,050$
<br />Due to other governments 9,462 – – –
<br />Accrued salaries payable 2,769 – – –
<br />Deposits payable 19,890 – – –
<br />Unearned revenue 41,323 – – –
<br />Total liabilities 87,635 – – 2,050
<br />Deferred inflows of resources
<br />Unavailable revenue 6,050 764 447,616 230,721
<br />Fund balances
<br />Nonspendable 1,431 70,346 49,850 –
<br />Restricted for debt service – 64,456 51,922 –
<br />Restricted for park improvements – – – –
<br />Assigned for capital improvements – – – 352,691
<br />Assigned for subsequent year’s budget 35,270 – – –
<br />Unassigned 274,155 – – –
<br />Total fund balances 310,856 134,802 101,772 352,691
<br />Total liabilities, deferred inflows
<br /> of resources, and fund balances 404,541$ 135,566$ 549,388$ 585,462$
<br />CITY OF GEM LAKE
<br />Balance Sheet
<br />Governmental Funds
<br />December 31, 2022
<br />See notes to basic financial statements -8-
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