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CITY OF LAKE ELMO, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />DECEMBER 31, 2023
<br />
<br />
<br />See accompanying notes. 34
<br />
<br /> Water Fund Sewer Fund
<br /> Storm Sewer
<br />Fund Totals
<br />ASSETS
<br />Current Assets:
<br />Cash and Cash Equivalents 5,792,477$ 11,621,118$ 1,417,272$ 18,830,867$
<br />Assessments Receivable 114,234 348,951 42,479 505,664
<br />Accounts Receivable 252,593 194,187 316,008 762,788
<br />Interest Receivable 12,174 28,516 3,370 44,060
<br />Due from Other Governments 157,547 - - 157,547
<br />Total Current Assets 6,329,025 12,192,772 1,779,129 20,300,926
<br />Noncurrent Assets:
<br />Capital Assets Not Being Depreciated 12,717,895 2,155,451 - 14,873,346
<br />Capital Assets Being Depreciated (Net)46,064,811 23,124,777 15,319,566 84,509,154
<br />Assessments Receivable 387,114 4,467,073 802 4,854,989
<br />Total Noncurrent Assets 59,169,820 29,747,301 15,320,368 104,237,489
<br />TOTAL ASSETS 65,498,845 41,940,073 17,099,497 124,538,415
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Pensions 73,095 29,201 14,242 116,538
<br />LIABILITIES
<br />Current Liabilities:
<br />Accounts Payable 318,353 37,964 3,721 360,038
<br />Salaries Payable 26,838 13,060 6,391 46,289
<br />Construction Contracts Payable 272,612 85,155 - 357,767
<br />Due to Other Governments 475,605 50,755 - 526,360
<br />Unearned Revenue 575,000 - - 575,000
<br />Accrued Interest 150,391 177,270 20,772 348,433
<br />Compensated Absences 19,530 6,426 2,762 28,718
<br />Bonds Due Within One Year 1,150,000 950,000 215,000 2,315,000
<br />Total Current Liabilities 2,988,329 1,320,630 248,646 4,557,605
<br />Noncurrent Liabilities:
<br />Compensated Absences 6,510 2,142 921 9,573
<br />Bonds Due After One Year 11,949,402 12,909,025 2,024,498 26,882,925
<br />Net OPEB Liability 15,330 5,303 2,718 23,351
<br />Net Pension Liability 231,588 92,063 44,390 368,041
<br />Total Noncurrent Liabilities 12,202,830 13,008,533 2,072,527 27,283,890
<br />TOTAL LIABILITIES 15,191,159 14,329,163 2,321,173 31,841,495
<br />DEFERRED INFLOWS OF RESOURCES
<br />Pensions 89,556 35,601 17,166 142,323
<br />NET POSITION
<br />Net Investment in Capital Assets 45,410,692 11,336,048 13,080,068 69,826,808
<br />Unrestricted 4,880,533 16,268,462 1,695,332 22,844,327
<br />TOTAL NET POSITION 50,291,225$ 27,604,510$ 14,775,400$ 92,671,135$
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