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CITY OF LAKE ELMO, MINNESOTA
<br />CHANGES IN NET POSITION (Continued)
<br />LAST TEN YEARS
<br />
<br />
<br />109
<br />
<br />
<br />
<br />
<br />2023 2022 2021 2020 2019
<br />Net (Expense) Revenue:
<br />Governmental Activities 2,859,507$ (1,893,256)$ 3,432,341$ 223,409$ 6,431,576$
<br />Business-Type Activities 7,133,050 14,237,192 16,077,025 13,082,215 12,392,916
<br />Total Primary Government, net 9,992,557 12,343,936 19,509,366 13,305,624 18,824,492
<br />General Revenues and Other
<br />Changes in Net Position:
<br />Governmental Activities:
<br />General Property Taxes 7,890,915 7,565,922 5,294,950 4,960,342 4,181,914
<br />Unrestricted Grants
<br />and Contributions 246,056 703,388 4,639 4,337 4,956
<br />Unrestricted Investment
<br />Earnings (Losses)1,137,908 (380,657) (13,874) 348,766 331,010
<br />Miscellaneous 46,528 23,384 - - -
<br />Gain (Loss) on Disposal of
<br />Capital Assets (221,202) 69,985 17,300 13,805 44,927
<br />Transfers (420,482) 3,261,225 5,250,000 - -
<br />Total Governmental Activities 8,679,723 11,243,247 10,553,015 5,327,250 4,562,807
<br />Business-Type Activities:
<br />Unrestricted Grants
<br />and Contributions 46 2,146 - - -
<br />Unrestricted Investment
<br />Earnings (Losses)604,235 (221,053) (20,945) 286,350 411,206
<br />Extraordinary Item - - - - 4,552,179
<br />Transfers 420,482 (3,261,225) (5,250,000) - -
<br />Total Business-Type Activities 1,024,763 (3,480,132) (5,270,945) 286,350 4,963,385
<br />Total Primary Government 9,704,486$ 7,763,115$ 5,282,070$ 5,613,600$ 9,526,192$
<br />Change in Net Position:
<br />Governmental Activities 11,539,230$ 9,349,991$ 13,985,356$ 5,550,659$ 10,994,383$
<br />Business-Type Activities 8,157,813 10,757,060 10,806,080 13,368,565 17,356,301
<br />Total Primary Government
<br />Change in Net Position 19,697,043$ 20,107,051$ 24,791,436$ 18,919,224$ 28,350,684$
<br />GASB 68 was implemented in 2015. Pension expense for years prior to 2015 was not restated.
<br />GASB 75 was implemented in 2018. OPEB expense for years prior to 2018 was not restated.
<br />GASB 87 was implemented in 2022. Lease revenue for years prior to 2022 was not restated.
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