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<br /> <br />CITY OF LAKE ELMO, MINNESOTA <br />TABLE OF CONTENTS <br /> <br /> <br />INTRODUCTORY SECTION: <br /> <br /> Letter Of Transmittal ............................................................................................................................................................ 2 <br /> <br /> Certificate Of Achievement For <br /> Excellence In Financial Reporting ................................................................................................................................ 7 <br /> <br /> City Council And Officials ................................................................................................................................................... 8 <br /> <br /> Organizational Chart ............................................................................................................................................................. 9 <br /> <br />FINANCIAL SECTION: <br /> <br /> INDEPENDENT AUDITOR’S REPORT ...................................................................................................................... 11 <br /> <br /> REQUIRED SUPPLEMENTARY INFORMATION: <br /> Management’s Discussion and Analysis ..................................................................................................................... 15 <br /> <br /> BASIC FINANCIAL STATEMENTS: <br /> Government-wide Financial Statements <br /> Statement of Net Position ..................................................................................................................................... 26 <br /> Statement of Activities ......................................................................................................................................... 27 <br /> Fund Financial Statements <br /> Balance Sheet – Governmental Funds .................................................................................................................. 28 <br /> Reconciliation of the Balance Sheet – Governmental Funds <br /> to the Statement of Net Position .................................................................................................................... 30 <br /> Statement of Revenues, Expenditures, and <br /> Changes in Fund Balances – Governmental Funds ....................................................................................... 31 <br /> Reconciliation of Changes in Fund Balances of Governmental Funds <br /> to the Statement of Activities ........................................................................................................................ 33 <br /> Statement of Net Position – Proprietary Funds .................................................................................................... 34 <br /> Statement of Revenues, Expenses, and <br /> Changes in Net Position – Proprietary Funds ................................................................................................ 35 <br /> Statement of Cash Flows – Proprietary Funds ..................................................................................................... 36 <br /> Notes to the Basic Financial Statements ..................................................................................................................... 38 <br /> <br /> REQUIRED SUPPLEMENTARY INFORMATION: <br /> Budgetary Comparison Schedule – General Fund ....................................................................................................... 72 <br /> Schedule of City’s Proportionate Share of the Net Pension Liability .......................................................................... 74 <br /> Schedule of City Pension Contributions ...................................................................................................................... 75 <br /> Schedule of Changes in Net Pension Liability (Asset) – Firefighters Relief Association ........................................... 76 <br /> Schedule of Changes in City’s Net OPEB Liability .................................................................................................... 77 <br /> Schedule of City OPEB Contributions ........................................................................................................................ 78 <br /> Notes to the Required Supplementary Information ..................................................................................................... 79