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CITY OF GEM LAKE
<br />Statement of Net Position
<br />Proprietary Funds
<br />December 31, 2025
<br />Business -Type Activities - Enterprise Funds
<br />Water Sewer Total
<br />Assets
<br />Current assets
<br />$ -
<br />$ 450,220
<br />$ 450,220
<br />Cash and investments
<br />Receivables
<br />9,624
<br />23,744
<br />33,368
<br />Accounts
<br />Accrued interest (charges)
<br />(2,053)
<br />16,786
<br />14,733
<br />Special assessments
<br />-
<br />7,161
<br />7,161
<br />Deferred
<br />Due from other funds
<br />-
<br />110,609
<br />110,609
<br />Total current assets
<br />7,571
<br />608,520
<br />616,091
<br />Noncurrent assets
<br />Capital assets
<br />55,794
<br />-
<br />55,794
<br />Construction in progress
<br />734,262
<br />813,678
<br />1,547,940
<br />Infrastructure
<br />Less accumulated depreciation
<br />(127,876)
<br />(289,972)
<br />(417,848)
<br />Total capital assets, net of
<br />accumulated depreciation
<br />662,180
<br />523,706
<br />1,185,886
<br />Total assets
<br />$ 669,751
<br />$ 1,132,226
<br />$ 1,801,977
<br />Liabilities
<br />Current liabilities
<br />522
<br />Accounts and contracts payable $ 4,10$ 3,420 $ ,
<br />Due to other funds 110,6099 - 1100,660909
<br />Due to other governments 5,615 1.238 6,853
<br />Total liabilities
<br />120,326
<br />4,658
<br />124,984
<br />Net position
<br />Net investment in capital assets
<br />662,180
<br />523,706
<br />1,185,886
<br />Unrestricted
<br />(112.755)
<br />603,862
<br />491,107
<br />Total net position
<br />549A25
<br />1,127,568
<br />1,676,993
<br />Total liabilities and net position
<br />$ 669,751
<br />$ 1,132,226
<br />$ 1,801,977
<br />See notes to basic financial statements -15-
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