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CITY OF LAKE ELMO, MINNESOTA <br />NOTES TO THE BASIC FINANCIAL STATEMENTS <br />DECEMBER 31, 2024 <br /> <br /> <br />50 <br />NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) <br /> <br />2.A. CASH, CASH EQUIVALENTS, AND INVESTMENTS (Continued) <br /> <br />Deposits and Investments Summary <br /> <br />A reconciliation of cash and investments as shown on the Statements of Net Position for the City follows: <br /> <br />Carrying Amount of Deposits 26,368,064$ <br />Investments 19,740,491 <br />Total 46,108,555$ <br />Government-wide <br />Cash, Cash Equivalents, and Investments 46,108,555$ <br />2.B. LEASE RECEIVABLES <br /> <br />The City has executed various arrangements under which the City leases property to external parties. A summary of the <br />pertinent terms for these leasing arrangements, as well as the corresponding lease receivables, is presented below: <br /> <br />Governmental Activities <br />Original Total Annual Interest Maturity Remaining <br />Description Amount Lease Payment Rate(s)Date Amount <br />Wireless Site Lease 548,874$ $2,500 - $55,902 5.50%11/30/2047 547,901$ <br />Wireless Site Lease 696,030 $27,987 - $55,425 3.25%6/30/2043 647,217 <br />Land Lease 400,078 $21,012 - $31,847 3.25%12/31/2043 373,390 <br />Total Governmental Activities Lease Receivables 1,568,508$ <br /> <br />During the year ended December 31, 2024, the City recognized revenues from leasing activities under the arrangements above <br />within governmental activities in the amount of $155,831. <br />