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CITY OF LAKE ELMO, MINNESOTA
<br />BALANCE SHEET
<br />GOVERNMENTAL FUNDS
<br />DECEMBER 31, 2024
<br />
<br />
<br />See accompanying notes. 28
<br /> General Fund
<br /> Debt Service
<br />Fund
<br /> 2024 Street &
<br />Utility
<br />Improvement
<br />Fund
<br /> Hudson Blvd Imp-
<br />Seg A-InwdHdrx
<br />Fund
<br /> Total Nonmajor
<br />Governmental
<br />Funds
<br /> Total
<br />Governmental
<br />Funds
<br />ASSETS
<br />Cash, Cash Equivalents, and Investments 12,115,282$ 5,657,531$ 473,134$ 2,075,949$ 8,209,971$ 28,531,867$
<br />Property Taxes Receivable 107,450 - - - - 107,450
<br />Assessments Receivable 66,113 3,767,197 - - 19,809 3,853,119
<br />Accounts Receivable 4,063 - - - 32,110 36,173
<br />Interest Receivable 42,437 14,571 31 2,539 31,372 90,950
<br />Due from Other Governments 5,004 - - - - 5,004
<br />Due from Other Funds 920,627 - - - - 920,627
<br />Leases Receivable 1,568,508 - - - - 1,568,508
<br />TOTAL ASSETS 14,829,484$ 9,439,299$ 473,165$ 2,078,488$ 8,293,262$ 35,113,698$
<br />LIABILITIES
<br />Accounts Payable 283,913$ -$ 104,727$ 772,848$ 78,528$ 1,240,016$
<br />Salaries Payable 48,346 - - - - 48,346
<br />Payroll Deductions and
<br />Employer Contributions 25,391 - - - - 25,391
<br />Construction Contracts Payable - - - 86,459 233,625 320,084
<br />Deposits Payable 2,509,232 - - - - 2,509,232
<br />Due to Other Funds - - - - 920,627 920,627
<br />Unearned Revenue 68,300 - - - 250,000 318,300
<br />Total Liabilities 2,935,182 - 104,727 859,307 1,482,780 5,381,996
<br />DEFERRED INFLOWS OF RESOURCES
<br />Unavailable Revenue:
<br />Property Taxes 56,052 - - - - 56,052
<br />Special Assessments 66,113 3,761,106 - - 19,808 3,847,027
<br />Leases 1,447,565 - - - - 1,447,565
<br />Total Deferred Inflows of Resources 1,569,730 3,761,106 - - 19,808 5,350,644
<br />Capital Project Funds
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