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City of Lake Elmo <br />Year End: December 31, 2024 <br />Journal Entries: Reclassifying <br />Date: 1/1/2024 To 12/31/2024 <br />Number Date Name Account No Reference Annotation Debit Credit Recurrence Misstatement <br />209 12/31/2024 Pension Expense - Public Works SW-000-3100-44910 G34G 6354A 5,145.00 <br />209 12/31/2024 Pension Expense - Parks & Rec SW-000-5200-44910 G34G 6354A 1,473.00 <br />To record current year pension Recurring <br />activity on the GW. <br />210 12/31/2024 Net Pension Asset - Fire SW-000-0000-17000 G34G 6354F 91,433.00 <br />210 12/31/2024 Deferred Outflows - Fire SW-000-0000-19100 G34G 6354F 3,488.00 <br />210 12/31/2024 Deferred Inflows - Fire SW-000-0000-23970 G34G 6354F 33,728.00 <br />210 12/31/2024 State Fire Aid SW-000-0000-33420 G34G 6354F 26,871.00 <br />210 12/31/2024 Pension Expense - Fire SW-000-0000-41945 G34G 6354F 148,544.00 <br />To record FRA pension activitiy.Recurring <br />211 12/31/2024 OPEB Oligations SW-000-0000-21650 G34G 1005 65,774.00 <br />211 12/31/2024 Fund Balance SW-000-0000-25300 G34G 1005 65,774.00 <br />To record BOY OPEB pension Recurring <br />balances. <br />212 12/31/2024 OPEB Oligations SW-000-0000-21650 G34G 6355A 18,598.00 <br />212 12/31/2024 OPEB Expense - Govt SW-000-0000-41415 G34G 6355A 18,598.00 <br />To record current year OPEB Recurring <br />activity. <br />213 12/31/2024 Due from Other Funds - Contra SW-000-0000-13100 G34G 5910 FN 920,627.00 <br />213 12/31/2024 Due to Other Funds - Contra SW-000-0000-20700 G34G 5910 FN 920,627.00 <br />To eliminate GW interfund balances Recurring <br />and activity. <br />214 12/31/2024 Bonds Payable - Current SW-000-0000-22500 G34G 6001 2,705,000.00 <br />214 12/31/2024 Bonds Payable - NonCurrent SW-000-0000-23100 G34G 6001 28,720,000.00 <br />214 12/31/2024 Fund Balance SW-000-0000-25300 G34G 6001 31,425,000.00 <br />To record BOY debt balances.Recurring <br />215 12/31/2024 Bonds Payable - NonCurrent SW-000-0000-23100 G34G 6001 2,705,000.00 <br />215 12/31/2024 Bond Principal SW-000-0000-46010 G34G 6001 2,705,000.00 <br />To record current year debt Recurring <br />activity. <br />216 12/31/2024 Unamortized Bond Premium SW-000-0000-23400 G34G 6002 1,321,965.00 <br />216 12/31/2024 Unamortized Bond Premium SW-000-0000-23400 G34G 6002 137,458.00 <br />216 12/31/2024 Fund Balance SW-000-0000-25300 G34G 6002 1,321,965.00 <br />216 12/31/2024 Bond Premium Amortization SW-000-0000-46000 G34G 6002 137,458.00 <br />To record BOY bond premium and the Recurring <br />amortization current year activity. <br />217 12/31/2024 GW Deferred Revenue (Contra) - Deferred SA SW-000-0000-22200 G34G 7010 GOV LEA 3,847,027.00 <br />217 12/31/2024 GW Deferred Revenue (Contra) - Delinquent Tax SW-000-0000-22202 G34G 7010 GOV LEA 56,052.00 <br />217 12/31/2024 Fund Balance SW-000-0000-25300 G34G 7010 GOV LEA 3,676,254.00 <br />217 12/31/2024 Fund Balance SW-000-0000-25300 G34G 7010 GOV LEA 52,486.00 <br />217 12/31/2024 GW Property Taxes SW-000-0000-31010 G34G 7010 GOV LEA 3,566.00 <br />217 12/31/2024 GW Special Assessments SW-000-0000-36101 G34G 7010 GOV LEA 170,773.00 <br />To eliminate deferrals on the GW Recurring <br />level. <br />218 12/31/2024 Accrued Interest Payable SW-000-0000-21800 G34G 6001 399,971.00 <br />218 12/31/2024 Accrued Interest Payable SW-000-0000-21800 G34G 6001 29,015.00 <br />218 12/31/2024 Fund Balance SW-000-0000-25300 G34G 6001 399,971.00 <br />218 12/31/2024 Bond Interest SW-000-0000-46110 G34G 6001 29,015.00 <br />To record BOY accrued interest and Recurring <br />to adjust for current year activity. <br />6/23/2025 <br />11:18 AM Page 8