CITY OF BIG LAKE, MINNESOTA

      MUNICIPAL LIQUOR FUND STATEMENT 

OF NET POSITION

December 31, 2023

Assets

Current Assets

Cash and Cash Equivalents$1,726,078

Accounts Receivable1,318

Inventory486,109

Prepaid Expenses13,626

Total Current Assets2,227,131

Noncurrent Assets

Capital Assets

Building1,915,613

Leasehold Improvements57,765

Furniture and Equipment284,862

Total Capital Assets2,258,240

Less: Accumulated Depreciation(1,304,625)

Net Fixed Assets953,615

Total Assets3,180,746

Deferred Outflows of Resources

Deferred outflow of resources 

related to city pension144,485

Total Assets and Deferred 

Outflows of Resources3,325,231

Liabilities, Deferred Inflows of Resources and Net Position

Current Liabilities

Salaries and Related Benefits Payable$20,056

Accounts Payable23,606

Due to Other Governments53,011

Compensated Absences Payable33,015

Total Current Liabilities129,688

Noncurrent Liabilities

Net Pension Liability444,443

Total Noncurrent Liabilities444,443

Total liabilities574,131

Deferred inflows of resources

Deferred inflows of resources related to

city pensions7,752

Net Position

Invested In Capital Assets, 

Net of Related Debt953,615

Unrestricted1,789,733

2,743,348

Total Liabilities, Deferred 

Inflows of resources and net 

position3,240,147

Note: The above financial information is unaudited as of the date of this publication.

(Published in the Patriot: 03/23/24.)