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CITY OF GEM LAKE
<br />Balance Sheet
<br />Governmental Funds
<br />December 31, 2025
<br />G.O. Capital
<br />G.O. Capital
<br />Improvement
<br />Improvement
<br />Plan Bonds
<br />Plan Bonds
<br />Street
<br />General
<br />Series 2015A
<br />Series 2018A
<br />Improvements
<br />Assets
<br />Cash and investments
<br />$ 919,911
<br />$ 77,714
<br />$ 70,575
<br />$ 443,500
<br />Receivables
<br />Accounts
<br />11,999
<br />-
<br />-
<br />-
<br />Accrued interest
<br />20,859
<br />2,707
<br />2,262
<br />1,803
<br />Property taxes
<br />Current
<br />5,206
<br />653
<br />33
<br />-
<br />Delinquent
<br />9,397
<br />1,370
<br />107
<br />-
<br />Special assessments
<br />Delinquent
<br />90
<br />-
<br />-
<br />-
<br />Deferred
<br />1,530
<br />-
<br />325,424
<br />120,221
<br />Due from other governments
<br />7,737
<br />-
<br />_
<br />_
<br />Prepaid items
<br />1,304
<br />73,433
<br />48,625
<br />-
<br />Total assets
<br />$ 978,033
<br />$ 155,877
<br />$ 447,026
<br />$ 565,524
<br />Liabilities
<br />Accounts and contracts payable
<br />$ 11,241
<br />$ -
<br />$ -
<br />$ -
<br />Due to other governments
<br />15,462
<br />-
<br />-
<br />-
<br />Accrued salaries payable
<br />3,940
<br />-
<br />-
<br />_
<br />Deposits payable
<br />16,200
<br />-
<br />-
<br />_
<br />Unearned revenue
<br />15,795
<br />-
<br />1,627
<br />_
<br />Total liabilities
<br />62,638
<br />-
<br />1,627
<br />-
<br />Deferred inflows of resources
<br />Unavailable revenue
<br />11,017
<br />1,370
<br />325,531
<br />120,221
<br />Fund balances
<br />Nonspendable
<br />1,304
<br />73,433
<br />48,625
<br />-
<br />Restricted for debt service
<br />81,074
<br />71,243
<br />-
<br />Restricted for park improvements
<br />-
<br />_
<br />-
<br />Assigned for capital improvements
<br />-
<br />-
<br />-
<br />445,303
<br />Unassigned
<br />903,074
<br />-
<br />-
<br />_
<br />Total fund balances
<br />904,378
<br />154,507
<br />119,868
<br />445,303
<br />Total liabilities, deferred inflows
<br />of resources, and fund balances
<br />$ 978,033
<br />$ 155,877
<br />$ 447,026
<br />$ 565,524
<br />See notes to basic financial statements -8-
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