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CITY OF GEM LAKE, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />DECEMBER 31, 2011
<br />ASSETS
<br />Cash and Investments
<br />Taxes Receivable
<br />Special Assessments Receivable
<br />Accounts Receivable
<br />Accrued Interest
<br />Prepaid Expenses
<br />Unamortized Bond Issue Costs
<br />Capital Assets:
<br />Capital Assets Being Depreciated
<br />Accumulated Depreciation
<br />Total Assets
<br />LIABILITIES
<br />Vouchers and Accounts Payable
<br />Accrued Interest Payable
<br />Unearned Revenue
<br />Long -Term Liabilities:
<br />Amounts Due Within One Year
<br />Amounts Due in More than One Year
<br />Total Liabilities
<br />NET ASSETS
<br />Invested in Capital Assets, Net of Related Debt
<br />Restricted for Debt Service
<br />Restricted for Park Improvements
<br />Unrestricted
<br />Total Net Assets
<br />See accompanying Notes to Basic Financial Statements.
<br />Governmental Business -Type
<br />Activities Activities
<br />Total
<br />$ 812,292
<br />$ 303,208 $
<br />1,115,500
<br />24,685
<br />-
<br />24,685
<br />326,518
<br />4,681
<br />331,199
<br />14,486
<br />16,458
<br />30,944
<br />2,968
<br />1,259
<br />4,227
<br />1,186
<br />7,029
<br />8,215
<br />26,394
<br />-
<br />26,394
<br />1,628,210
<br />617,539
<br />2,245,749
<br />(368,364)
<br />(86,973)
<br />(455,337)
<br />2,468,375
<br />863,201
<br />3,331,576
<br />20,013 144 20,157
<br />21,700 - 21,700
<br />5,280 5,280
<br />100,452
<br />1,141.230
<br />1,288,675
<br />100,452
<br />- 1,141,230
<br />144 1,288,819
<br />18,165 530,566 548,731
<br />578,769 - 578,769
<br />38,044 - 38,044
<br />544.722 332,491 877,213
<br />$ 1,179,700 $ 863,057 $ 2,042.757
<br />(3)
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