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Governmental Business-Type
<br />Activities Activities Total
<br />
<br />Assets
<br />Cash and investments 961,117$ 437,151$ 1,398,268$
<br />Receivables
<br />Accounts 15,262 18,877 34,139
<br />Accrued interest 2,943 1,463 4,406
<br />Property taxes 18,163 – 18,163
<br />Special assessments 604,968 – 604,968
<br />Due from other governments 1,682 – 1,682
<br />Prepaid items 120,529 – 120,529
<br />Capital assets
<br />Not being depreciated 33,780 – 33,780
<br />Depreciated, net of accumulated depreciation 1,568,141 1,193,870 2,762,011
<br />Total assets 3,326,585$ 1,651,361$ 4,977,946$
<br />Liabilities
<br />Accounts and contracts payable 22,260$ 41$ 22,301$
<br />Accrued interest payable 11,527 – 11,527
<br />Due to other governments 4,618 1,656 6,274
<br />Accrued salaries payable 3,046 – 3,046
<br />Deposits payable 19,893 – 19,893
<br />Unearned revenue 8,535 – 8,535
<br />Long-term liabilities
<br />Amounts due in one year 105,000 – 105,000
<br />Amounts due in more than one year 762,235 – 762,235
<br />Total liabilities 937,114 1,697 938,811
<br />Net position
<br />Net investment in capital assets 734,686 1,193,870 1,928,556
<br />Restricted for debt service 644,150 – 644,150
<br />Restricted for park improvements 51,829 – 51,829
<br />Unrestricted 958,806 455,794 1,414,600
<br />Total net position 2,389,471 1,649,664 4,039,135
<br />Total liabilities and net position 3,326,585$ 1,651,361$ 4,977,946$
<br />CITY OF GEM LAKE
<br />Statement of Net Position
<br />December 31, 2023
<br />See notes to basic financial statements -5-
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