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Exhibit B-1 <br />CITY OF GEM LAKE, MINNESOTA <br />1 <br />GENERALFUND <br />STATEMENT OF CASH RECEIPTS <br />�j <br />For The Year Ended December <br />31, 2003 <br />With Comparative Totals for the Year Ended December 31, 2002 <br />2003 <br />Variance: <br />Favorable <br />RECEIPTS <br />Budget <br />Actual <br />(Unfavorable) <br />2002 <br />I <br />Local Taxes <br />General tax levy <br />$ 123,000 <br />$ 115,954 <br />$ (7,046) <br />$ 118,445 <br />Gambling taxes <br />2,960 <br />2,189 <br />(771) <br />2,797 <br />Total Local Taxes <br />125,960 <br />118,143 <br />(7,817) <br />121,242 <br />Licenses, Permits and Other Fees 57,099 <br />23,194 <br />(33,905) <br />71,839 <br />Intergovernmental Receipts <br />HACA and Score Grants <br />820 <br />820 <br />- <br />7,256 <br />Charges for Services <br />2,000 <br />3,841 <br />1,841 <br />2,758 <br />Bond issuance fees <br />- <br />- <br />- <br />21,833 <br />Interest Income <br />7,200 <br />5,266 <br />(1,934) <br />7,019 <br />Miscellaneous Receipts <br />12,050 <br />156 <br />(11,894) <br />710 <br />JTotal <br />Receipts Before Transfers <br />205,129 <br />151,420 <br />(53,709) <br />232,657 <br />Operating Transfers <br />Sewer Enterprise Fund <br />1,500 <br />5,445 <br />3,945 <br />- <br />`From <br />TOTAL RECEIPTS <br />$ 206,629 <br />$ 156,865 <br />$ (49,764) <br />$ 232,657 <br />See Independent Accountant's Compilation Report <br />4 <br />