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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2016
<br />601 Water 602 Sewer Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $4,947,883 $8,522,604 $13,470,487
<br />Due from other governmental units - 2,023 2,023
<br />Accounts receivable - net 142,284 216,275 358,559
<br />Prepaid items 10,161 19,086 29,247
<br />Inventory 81,827 - 81,827
<br />Interfund loan receivable - 559,110 559,110
<br /> Total current assets 5,182,155 9,319,098 14,501,253
<br />Noncurrent assets:
<br />Capital assets:
<br />Construction in progress 4,282,412 1,335,024 5,617,436
<br />Equipment 124,259 328,432 452,691
<br />Water and sewer systems 20,847,774 22,032,433 42,880,207
<br />Total capital assets 25,254,445 23,695,889 48,950,334
<br />Less: Allowance for depreciation (8,118,178) (8,971,546) (17,089,724)
<br /> Net capital assets 17,136,267 14,724,343 31,860,610
<br /> Total assets 22,318,422 24,043,441 46,361,863
<br />Deferred outflows of resources related to pensions 84,151 84,151 168,302
<br />Total assets and deferred outflows 22,402,573 24,127,592 46,530,165
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 43,143 157,235 200,378
<br />Salaries payable 3,010 3,010 6,020
<br />Contracts payable 74,403 - 74,403
<br />Other accrued liabilities 3,335 3,150 6,485
<br />Compensated absences payable - current portion 17,393 17,393 34,786
<br />Total current liabilities 141,284 180,788 322,072
<br />Noncurrent liabilities:
<br />Compensated absences payable - noncurrent portion 15,802 15,802 31,604
<br />Net pension liability 201,104 201,104 402,208
<br />Total noncurrent liabilities 216,906 216,906 433,812
<br /> Total liabilities 358,190 397,694 755,884
<br />Deferred inflows of resources related to pensions 25,112 25,112 50,224
<br />Total liabilities and deferred inflows 383,302 422,806 806,108
<br />Net position:
<br />Investment in capital assets 17,136,267 14,724,343 31,860,610
<br />Unrestricted 4,883,004 8,980,443 13,863,447
<br /> Total net position $22,019,271 $23,704,786 $45,724,057
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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