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CITY OF GEM LAKE, MINNESOTA <br />RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET <br />TO THE STATEMENT OF NET POSITION <br />GOVERNMENTAL ACTIVITIES <br />DECEMBER 31, 2014 <br />TOTAL FUND BALANCES FOR GOVERNMENTAL FUNDS <br />Total net position re..Ported for governmentalactivities in :the .statement of <br />net position is. different because: <br />Capital assets used in governmental activities: are not financial resources <br />and, therefore, are not reported in the funds. These: capital assets <br />consist .of: <br />5152.;321 <br />Buildings $ 902,232 <br />Office. Equipment 12,805 <br />Infrastructure 71217S8 <br />Accumulated Depreciation _ (553;896)1.,074,019 <br />Some of the City's property taxes. and .special assessments will be <br />collected after year=end, but are not available soon enough to pay for the <br />current perio&s expenditures and, therefore, are reported as unavailable <br />resources in the governmental funds. 80,864 <br />Some liabilities are not due and payable in the current period and; <br />therefore, are.not reported as fund liabilities. Balances.at year=end are, <br />General Obligation Bonds. Payable (76p,000) <br />Unamortized Bond. Discounts 6207 <br />Accrued Interest on Long -Term Debt 13,606 (767,399 <br />TOTAL NET POSITION OF GOVERNMENTAL ACTIVITIES 949,8.05 <br />See accompanying Notes to Basic Financial Statements. <br />(8) <br />