Laserfiche WebLink
CITY OF GEM LAKE, MINNESOTA <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />OECEMBER 31, 2019 <br />NOTE 8 FUND BALANCES <br />Certain portions of fund balance are restricted to provide for funding on certain long-term <br />liabilities oras. required by other outside parties. Restricted; Committed, and Assigned fund <br />balances. at December 31, 2 01 9 are as follows: <br />A. Restricted for Debt- Service — This represents amounts which. are restricted for <br />future debt payments. <br />B. Restricted for Park improvements — Represents amounts which are received <br />through park dedication fees and are restricted for park acquisitions and <br />improvements. <br />C. Restricted .for Street Projects — Represents amounts which are received from <br />special assessments and are restricted for street projects, <br />D. Assigned for Capital Improvements, Benefitting Individual Property Owners — <br />Represents amounts which are received from special assessments and are assigned <br />for capital improvements benefitting individual properlty owners. <br />(25) <br />