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CITY OF GEM LAKE <br />Statement of Revenue, Expenses, and Changes in Net Position <br />Proprietary Funds <br />Year Ended December 31, 2025 <br />Operating revenue <br />Charges for services <br />Special assessments <br />Total operating revenues <br />Operating expenses <br />Operating expenses <br />Depreciation <br />Total operating expenses <br />Operating income (loss) <br />Nonoperating income (expense) <br />Investment earnings (charges) <br />Change in net position <br />Net position <br />Beginning of year <br />End of year <br />See notes to basic financial statements -16- <br />Business -Type Activities — Enterprise Funds <br />Water Sewer Total <br />$ 49,788 <br />$ 71,033 <br />$ 120,821 <br />— <br />7,161 <br />7,161 <br />49,788 <br />78,194 <br />127,982 <br />21,881 <br />83,180 <br />105,061 <br />15,510 <br />16,379 <br />31,889 <br />37,391 <br />99,559 <br />136,950 <br />12,397 <br />(21,365) <br />(8,968) <br />(4,845) <br />37,933 <br />33,088 <br />7,552 <br />16,568 <br />24,120 <br />541,873 <br />1,111,000 <br />1,652,873 <br />$ 549,425 <br />$ 1,127,568 <br />$ 1,676,993 <br />