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CITY OF GEM LAKE, MINNESOTA <br />SEWER ENTERPRISE FUND BALANCE SHEET <br />PROPRIETARY FUND <br />December 31, 2006 <br />Sewer Fund <br />(Total All <br />Proprietary <br />Funds) <br />ASSETS <br />Current Assets <br />Cash and cash equivalents <br />$ 32.284. <br />Investments <br />88,735 <br />Accounts receivable <br />12,381 <br />interest receivable <br />3,268 <br />Total Current Assets <br />136;668 <br />Property and Equipment, at Cost <br />Sewer system <br />49,000 <br />Less: Accumulated depreciation <br />4,247 <br />Property and Equipment, Net <br />44,753 <br />TOTAL ASSETS $ 181,421 <br />LIABiLITIES:AND FUND EQUITY <br />Current.L!abilities <br />Accounts:.payable $ 4T4 <br />Total Current Liabilities 474 <br />Fund Equity <br />Retained earnings, unrestricted $ 148,141 <br />Raid -in capital 32,806 <br />Total Fund Equity 1.80.947 <br />TOTAL LIABILITIES AND FUND EQUITY $ 151,421 <br />