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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2016 <br /> <br /> <br /> <br /> <br />Long-term interfund loans are classified as interfund loan receivable/payable. A summary of such loans as of <br />December 31, 2016 is as follows: <br /> <br />Receivable Payable <br />Major Funds: <br />G.O. Improvement Bonds of 2005A $ - $2,876,643 <br />Area and Unit Charge 194,525 - <br />Sewer Fund 559,110 - <br />Nonmajor Funds: <br />G.O. Improvement Bonds of 2014A 199,452 - <br />Closed Bond Fund 773,018 - <br />Building and Facilities 2,317,533 - <br />Dedicated Parks - 194,525 <br />Tax Increment Financing 1-11 - 773,018 <br />21st Avenue Extension - 199,452 <br />$4,043,638 $4,043,638 <br /> <br />Note 13 INTERFUND TRANSFERS <br /> <br />Individual fund transfers for fiscal year 2016 are as follows: <br /> <br />Transfer In Transfer Out <br />Major Funds: <br />General Fund $488,084 $691,439 <br />G.O. Improvement Bonds of 2005A 152,784 - <br />G.O. Improvement Note of 2009A 309,000 - <br />Area and Unit Charge 1,001 315,044 <br />Water Fund - 34,627 <br />Sewer Fund - 244,594 <br />Nonmajor governmental funds 2,570,311 2,235,476 <br />Total $3,521,180 $3,521,180 <br /> During 2016, transfers were made to provide funding for capital improvement projects and capital outlay in <br />accordance with the City’s capital improvement plan. Transfers were also made to provide resources for debt <br />service payments, to close capital project funds, and to allocate financial resources to funds that received benefit <br />from services provided by another fund. These transfers are routine and consistent with past practices. <br /> <br /> <br />79