Laserfiche WebLink
CITY OF GEM LAKE, MINNESOTA <br />RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET <br />TO THE STATEMENT ❑F NET POSITION <br />GOVERNMENTAL ACTIVITIES <br />.DEC EMBER 31., 201.6 <br />TOTAL FUND BALANCES FOR GOVERNMENTAL FUNDS <br />Total net position reported for governmental activities in .the statement of <br />net. position is different because;: <br />Capital assets. used in.gover.nmental activities are not financial <br />resources. and, therefore, are not reported.in the funds. These capital <br />assets consist cf: <br />Buildings <br />Office: Equipment <br />Infrastructure. <br />A.ccum u lated. Dep reciation <br />Some of the City's property taxes and special. assessments will be`:.::.. <br />collected after year-end, but are .not available:, o0n.enough to pay forth..e <br />current period's expenditures and, therefore; are..reparted:as.unavailat le.. <br />resources in the governmental -funds. <br />Some liabilities .are not due. and payable in the. current peritid and, <br />therefore; are not reported as.fund'liabilities. Balances of year.-end.are. <br />General Obligation Bgpds Payable: <br />Accruedlnterest on Lorig-Terra aebf':, <br />TOTAL NET POSITION :OF.GOVERNMENTAIL ACTIVITIES <br />See accornpanyrng Notes.: to Basic Finandaf.Statements: <br />(7) <br />$ 902232:. <br />12,895 <br />1 136.167 <br />(682,481) <br />$ 163,220 <br />1.,3681813 <br />503,088. <br />(775,000) <br />(7,033) (782103.3) <br />$ 1;253,088 <br />