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CITY OF LAKE ELMO, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />DECEMBER 31, 2024
<br />
<br />
<br />See accompanying notes. 34
<br />
<br />
<br /> Water Fund Sewer Fund
<br /> Storm Sewer
<br />Fund Totals
<br />ASSETS
<br />Current Assets:
<br />Cash and Cash Equivalents 4,185,778$ 11,958,161$ 1,432,749$ 17,576,688$
<br />Assessments Receivable 61,263 333,160 22,532 416,955
<br />Accounts Receivable 301,106 223,955 345,491 870,552
<br />Interest Receivable 17,420 42,363 5,193 64,976
<br />Due from Other Governments 1,325,327 - - 1,325,327
<br />Total Current Assets 5,890,894 12,557,639 1,805,965 20,254,498
<br />Noncurrent Assets:
<br />Capital Assets Not Being Depreciated/Amortized 4,258,682 21,880 - 4,280,562
<br />Capital Assets Being Depreciated/Amortized (Net)59,689,860 27,504,356 18,608,786 105,803,002
<br />Assessments Receivable 392,733 4,127,204 1,415 4,521,352
<br />Total Noncurrent Assets 64,341,275 31,653,440 18,610,201 114,604,916
<br />TOTAL ASSETS 70,232,169 44,211,079 20,416,166 134,859,414
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Pensions 45,461 18,553 9,502 73,516
<br />LIABILITIES
<br />Current Liabilities:
<br />Accounts Payable 434,477 28,951 1,526 464,954
<br />Salaries Payable 11,177 6,369 12,395 29,941
<br />Due to Other Governments - 50,488 - 50,488
<br />Unearned Revenue 575,000 - - 575,000
<br />Accrued Interest 144,531 159,625 18,694 322,850
<br />Compensated Absences 23,979 9,467 5,302 38,748
<br />Bonds Due Within One Year 1,254,872 950,000 220,000 2,424,872
<br />Total Current Liabilities 2,444,036 1,204,900 257,917 3,906,853
<br />Noncurrent Liabilities:
<br />Compensated Absences 7,993 3,156 1,767 12,916
<br />Bonds Due After One Year 11,242,208 11,908,877 1,798,760 24,949,845
<br />Net OPEB Liability 9,072 3,864 1,880 14,816
<br />Net Pension Liability 141,308 55,592 27,270 224,170
<br />Total Noncurrent Liabilities 11,400,581 11,971,489 1,829,677 25,201,747
<br />TOTAL LIABILITIES 13,844,617 13,176,389 2,087,594 29,108,600
<br />DEFERRED INFLOWS OF RESOURCES
<br />Pensions 97,963 38,539 18,905 155,407
<br />NET POSITION
<br />Net Investment in Capital Assets 51,451,462 14,667,359 16,590,026 82,708,847
<br />Unrestricted 4,883,588 16,347,345 1,729,143 22,960,076
<br />TOTAL NET POSITION 56,335,050$ 31,014,704$ 18,319,169$ 105,668,923$
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