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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 />Revenue
<br />Taxes
<br />Property taxes 461,648$ 77,914$ 7,653$ –$
<br />Franchise fees 19,368 – – –
<br />Special assessments 589 – 60,203 38,979
<br />Intergovernmental 18,573 – – –
<br />Licenses and permits 35,072 – – –
<br />Fines and forfeitures 970 – – –
<br />Charges for services 3,942 – – –
<br />Investment earnings (charges)(8,246) (2,901) (1,564) (15,880)
<br />Facility rental 5,184 – – –
<br />Miscellaneous 4,580 962 10 –
<br />Total revenue 541,680 75,975 66,302 23,099
<br />Expenditures
<br />Current
<br />General government 233,886 – – –
<br />Public safety 120,607 – – –
<br />Public works 35,642 – – –
<br />Conservation and development 70,825 – – –
<br />Capital outlay 3,709 – – 3,413
<br />Debt service
<br />Principal – 65,000 40,000 –
<br />Interest and fiscal charges – 12,309 21,250 –
<br />Total expenditures 464,669 77,309 61,250 3,413
<br />Excess (deficiency) of revenue
<br /> over expenditures 77,011 (1,334) 5,052 19,686
<br />Other financing sources (uses)
<br />Transfers in – – – 20,000
<br />Transfers (out)(20,000) – – –
<br />Total other financing
<br /> sources (uses)(20,000) – – 20,000
<br />Net change in fund balances 57,011 (1,334) 5,052 39,686
<br />Fund balances
<br />Beginning of year 253,845 136,136 96,720 313,005
<br />End of year 310,856$ 134,802$ 101,772$ 352,691$
<br />CITY OF GEM LAKE
<br />Statement of Revenue, Expenditures, and Changes in Fund Balances
<br />Governmental Funds
<br />Year Ended December 31, 2022
<br />See notes to basic financial statements -11-
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