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CITY OF LAKE ELMO, MINNESOTA
<br />STATEMENT OF CASH FLOWS (Continued)
<br />PROPRIETARY FUNDS
<br />FOR THE YEAR ENDED DECEMBER 31, 2023
<br />
<br />
<br />See accompanying notes. 37
<br />
<br />
<br />
<br />
<br /> Water Fund Sewer Fund
<br /> Storm Sewer
<br />Fund Totals
<br />RECONCILIATION OF NET OPERATING
<br />INCOME (LOSS) TO NET CASH
<br />PROVIDED (USED) BY OPERATING
<br />ACTIVITIES
<br />Net Operating Income (Loss)(1,696,890)$ (1,406,775)$ (435,653)$ (3,539,318)$
<br />Adjustments to Reconcile Net Operating
<br />Income (Loss) to Net Cash Provided
<br />(Used) by Operating Activities:
<br />Depreciation Expense 2,148,531 1,121,402 791,557 4,061,490
<br />Changes in Assets, Liabilities,
<br />and Deferrals:
<br />Accounts Receivable (13,374) (29,096) (9,821) (52,291)
<br />Special Assessments (83,197) (34,271) (42,007) (159,475)
<br />Accounts Payable 99,816 (26,251) (1,585) 71,980
<br />Due to Other Governments - (126,004) - (126,004)
<br />Salaries Payable 17,991 9,368 5,099 32,458
<br />Compensated Absences (227) (477) (1,113) (1,817)
<br />Net OPEB Liability 199 (1,075) (844) (1,720)
<br />Net Pension Liability (65,081) (32,589) (25,920) (123,590)
<br />Deferred Outflows of
<br />Resources - Pensions 36,455 16,719 11,768 64,942
<br />Deferred Inflows of
<br />Resources - Pensions 83,512 33,061 15,734 132,307
<br />NET CASH PROVIDED (USED) BY
<br />OPERATING ACTIVITIES 527,735$ (475,988)$ 307,215$ 358,962$
<br />SCHEDULE OF NONCASH CAPITAL
<br />AND RELATED FINANCING
<br />ACTIVITIES
<br />Contribution of Capital Assets from
<br />Private Sources 2,164,179$ 2,060,698$ 2,402,156$ 6,627,033$
<br />Contribution of Capital Assets from
<br />Governmental Activities -$ 420,482$ -$ 420,482$
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