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CITY OF LAKE ELMO, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />DECEMBER 31, 2023
<br />
<br />
<br />See accompanying notes. 26
<br />
<br />
<br /> Governmental
<br />Activities
<br /> Business-Type
<br />Activities Totals
<br />ASSETS
<br />Cash, Cash Equivalents, and Investments 25,090,109$ 18,830,867$ 43,920,976$
<br />Property Taxes Receivable 103,590 - 103,590
<br />Assessments Receivable 3,682,997 5,360,653 9,043,650
<br />Accounts Receivable 857 762,788 763,645
<br />Interest Receivable 61,968 44,060 106,028
<br />Due from Other Governments 120,246 157,547 277,793
<br />Leases Receivable 1,616,780 - 1,616,780
<br />Capital Assets Not Being Depreciated 22,068,736 14,873,346 36,942,082
<br />Capital Assets Being Depreciated (Net) 65,584,470 84,509,154 150,093,624
<br />Net Pension Asset 565,242 - 565,242
<br />TOTAL ASSETS 118,894,995 124,538,415 243,433,410
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Pensions 1,100,857 116,538 1,217,395
<br />LIABILITIES
<br />Accounts Payable 953,199 360,038 1,313,237
<br />Salaries Payable 82,494 46,289 128,783
<br />Construction Contracts Payable 696,604 357,767 1,054,371
<br />Deposits Payable 2,380,136 - 2,380,136
<br />Due to Other Governments 117,613 526,360 643,973
<br />Payroll Deductions and Employer Contributions 52,653 - 52,653
<br />Unearned Revenue 440,089 575,000 1,015,089
<br />Accrued Interest Payable 399,971 348,433 748,404
<br />Compensated Absences Payable:
<br />Due Within One Year 82,586 28,718 111,304
<br />Due After One Year 27,529 9,573 37,102
<br />Bonds Payable:
<br />Due Within One Year 2,705,000 2,315,000 5,020,000
<br />Due After One Year 30,041,965 26,882,925 56,924,890
<br />Net OPEB Liability:
<br />Due After One Year 65,774 23,351 89,125
<br />Net Pension Liability:
<br />Due After One Year 1,238,795 368,041 1,606,836
<br />TOTAL LIABILITIES 39,284,408 31,841,495 71,125,903
<br />DEFERRED INFLOWS OF RESOURCES
<br />Pensions 1,147,438 142,323 1,289,761
<br />Leases 1,539,583 - 1,539,583
<br />TOTAL DEFERRED INFLOWS OF RESOURCES 2,687,021 142,323 2,829,344
<br />NET POSITION
<br />Net Investment in Capital Assets 54,209,637 69,826,808 124,036,445
<br />Restricted 11,658,502 - 11,658,502
<br />Unrestricted 12,156,284 22,844,327 35,000,611
<br />TOTAL NET POSITION 78,024,423$ 92,671,135$ 170,695,558$
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