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CITY OF LINO LAKES, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />DECEMBER 31, 2015
<br />15
<br />GOVERNMENT-WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />At the end of the current fiscal year, the City of Lino Lakes is able to report positive balances in all three
<br />categories of net position, both for the government as a whole, as well as for its separate governmental
<br />and business-type activities.
<br />
<br />Governmental activities Governmental activities decreased the City of Lino Lakes’ net position by
<br />$7,980,709. The cumulative effect of the application of GASB 68 as well as increases in expenses for
<br />public safety and public services activities account for this reduction for 2015.
<br />
<br />Business-type activities Business-type activities increased the City of Lino Lakes’ net position by
<br />$2,356,159. Infrastructure additions by the city and developers, offset partially by increased depreciation
<br />expense due to a change in accounting estimate provided for this increased in 2015.
<br />
<br />Condensed statements of revenues, expenses, and changes in net position highlights are as follows for
<br />the years ended December 31, 2015 and 2014:
<br />
<br />2015 2014 2015 2014 2015 2014
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services $ 1,621,832 $ 1,529,040 $ 2,636,469 $ 2,529,524 $ 4,258,301 $ 4,058,564
<br />Operating Grants and Contributions 526,107 840,676 263,024 - 789,131 840,676
<br />Capital Grants and Contributions 1,176,732 335,733 3,035,031 1,035 4,211,763 336,768
<br />General Revenues:
<br />Property Taxes 9,067,390 8,612,016 - - 9,067,390 8,612,016
<br />Franchise Taxes 101,040 124,292 - - 101,040 124,292
<br />Other Taxes 74,806 70,578 - - 74,806 70,578
<br />Contributions Not Restricted to
<br /> Specific Programs 5,363 4,443 - - 5,363 4,443
<br />Unrestricted Investment Earnings 163,825 114,483 81,084 96,213 244,909 210,696
<br />Change in Market Value (50,864) 151,212 (29,917) 58,255 (80,781) 209,467
<br />Gain on Disposal of Capital Assets 17,836 1,727 - - 17,836 1,727
<br />Total Revenues 12,704,067 11,784,200 5,985,691 2,685,027 18,689,758 14,469,227
<br />EXPENSES
<br />General Government 2,016,351 2,036,550 - - 2,016,351 2,036,550
<br />Public Safety 5,135,865 4,107,759 - - 5,135,865 4,107,759
<br />Public Service 6,822,972 4,786,121 - - 6,822,972 4,786,121
<br />Parks, Recreation and Forestry 1,148,740 1,093,909 - - 1,148,740 1,093,909
<br />Conservation of Natural Resources 186,111 159,649 - - 186,111 159,649
<br />Community Development 432,268 407,448 - - 432,268 407,448
<br />Interest on Long-Term Debt 632,876 618,680 - - 632,876 618,680
<br />Water - - 1,394,897 965,641 1,394,897 965,641
<br />Sewer - - 2,089,842 1,628,258 2,089,842 1,628,258
<br />Total Expenses 16,375,183 13,210,116 3,484,739 2,593,899 19,859,922 15,804,015
<br />CHANGE IN NET POSITION
<br /> BEFORE TRANSFERS (3,671,116) (1,425,916) 2,500,952 91,128 (1,170,164) (1,334,788)
<br />Transfers 66,834 69,294 (66,834) (69,294) - -
<br />CHANGE IN NET POSITION (3,604,282) (1,356,622) 2,434,118 21,834 (1,170,164) (1,334,788)
<br />Net Position - Beginning of Year 48,734,868 50,091,490 41,444,300 41,422,466 90,179,168 91,513,956
<br />Prior Period Adjustment (4,376,427) - (77,959) - (4,454,386) -
<br />Net Assets - Beginning of Year, As Restated 44,358,441 50,091,490 41,366,341 41,422,466 85,724,782 91,513,956
<br />NET POSITION - END OF YEAR 40,754,159$ 48,734,868$ 43,800,459$ 41,444,300$ 84,554,618$ 90,179,168$
<br />Governmental Activities Business-Type Activities Total
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