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City of Lake Elmo <br />Year End: December 31, 2024 <br />Journal Entries: Adjusting <br />Date: 1/1/2024 To 12/31/2024 <br />Number Date Name Account No Reference Annotation Debit Credit Recurrence Misstatement <br />the MPCA to match client schedule. <br />9 12/31/2024 Special Assessments - Delinq 409-000-0000-12200 CPF05 1,160.00 <br />9 12/31/2024 Deferred Revenue 409-000-0000-22200 CPF05 1,160.00 <br />To write off delinquent assessment Recurring Factual <br />balance which was actually collected. <br />10 12/31/2024 Accounts Payable 601-000-0000-20200 ENT01 37,898.00 <br />10 12/31/2024 Engineering Services 601-480-8134-43030 ENT01 37,898.00 <br />To record unrecorded A/P found Recurring Factual <br />while examining an invoice beyond the 3 month A/P sample range. <br />11 12/31/2024 Investments 101-000-0000-10400 GF01A 5601 674.00 <br />11 12/31/2024 Market Value Adjustment 101-000-0000-10401 GF01A 5601 825.00 <br />11 12/31/2024 Interest Rec on Investments 101-000-0000-10450 GF01A 5601 84.00 <br />11 12/31/2024 Transfer In 101-000-0000-39210 GF01A 5601 67.00 <br />11 12/31/2024 Investments 252-000-0000-10400 SRF03 5601 674.00 <br />11 12/31/2024 Market Value Adjustment 252-000-0000-10401 SRF03 5601 825.00 <br />11 12/31/2024 Interest Rec on Investments 252-000-0000-10450 SRF03 5601 84.00 <br />11 12/31/2024 Transfer Out 252-000-0000-47200 SRF03 5601 67.00 <br />To zero out the ARPA Fund.Recurring Factual <br />12 12/31/2024 Machinery and Equipment 601-000-0000-16100 ENT01 5512 183,768.00 <br />12 12/31/2024 Infrastructure 601-000-0000-16400 ENT01 5512 183,768.00 <br />12 12/31/2024 Machinery & Equipment 602-000-0000-16100 ENT02 5512 314,808.00 <br />12 12/31/2024 Infrastructure 602-000-0000-16600 ENT02 5512 314,808.00 <br />12 12/31/2024 Machinery & Equipment 603-000-0000-16100 ENT03 5512 202,361.00 <br />12 12/31/2024 Infrastructure 603-000-0000-16400 ENT03 5512 202,361.00 <br />To reclass CY additions between Recurring Factual <br />asset classes. <br />13 12/31/2024 Accumulated Depr. - Mach&Equip 601-000-0000-16110 ENT01 5512 477.00 <br />13 12/31/2024 Depreciation Expense 601-494-9400-43320 ENT01 5512 477.00 <br />To adjust depreciation to match Recurring Factual <br />audited schedule <br />14 12/31/2024 Construction in Process 601-000-0000-16900 ENT01 37,890.00 <br />14 12/31/2024 Engineering Services 601-480-8134-43030 ENT01 37,890.00 <br />To reclass the engineering Recurring Factual <br />expenses in AJE 10 to CIP. <br />15 12/31/2024 Subscription Asset RTU 601-000-0000-11800 ENT01 6503 92,653.00 <br />15 12/31/2024 SBITA Liability 601-000-0000-22800 ENT01 6503 92,653.00 <br />To record SBITA issuance and Recurring Factual <br />corresponding RTU asset. <br />16 12/31/2024 State Fire Aid 101-420-2220-33420 GF01A 145,484.00 <br />16 12/31/2024 Fire State Aid 101-420-2250-44920 GF01A 145,484.00 <br />To record SVF plan revenue and Recurring Factual <br />expense. <br />17 12/31/2024 Subscription Accum Amortization 601-000-0000-11851 ENT01 6503 9,113.00 <br />17 12/31/2024 SBITA Liability 601-000-0000-22800 ENT01 6503 4,235.00 <br />17 12/31/2024 SBITA Interest Expense 601-000-9400-46110 ENT01 6503 3,722.00 <br />17 12/31/2024 Amortization Expense 601-494-9400-43321 ENT01 6503 9,113.00 <br />17 12/31/2024 Improvements Other Than Bldgs 601-494-9400-45300 ENT01 6503 7,957.00 <br />To record interest/amortization of Recurring Factual <br />RTU asset on SBITA. <br />18 12/31/2024 Compensated Absences - Current 601-000-0000-21601 ENT01 6211 10,419.00 <br />18 12/31/2024 Compensated Absences - Noncurr 601-000-0000-23900 ENT01 6211 56.00 <br />6/23/2025 <br />11:18 AM Page 2