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CITY OF LINO LAKES, MINNESOTA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />DECEMBER 31, 2014
<br />CAPITAL ASSET AND DEBT ADMINISTRATION
<br />Capital assets — The City of Lino Lakes' investment in capital assets for its governmental and business -
<br />type activities as of December 31, 2014, is $63,769,006. This investment in capital assets includes land,
<br />buildings, office equipment and furniture, vehicles, machinery and equipment, other capital assets, and
<br />infrastructure. This represents a decrease in the City of Lino Lakes' investment in capital assets of
<br />approximately 5%. The extension of 21St Avenue north of CSAH 14 was completed during the year by the
<br />City, adding to road and utility infrastructure. The only additions were from projects in progress. The
<br />decrease within the governmental activities is attributable to the depreciation of buildings, constructed
<br />streets, underground infrastructure and other equipment. Within the business -type activities decreases
<br />were also attributable to depreciation of existing assets of the water and sewer funds.
<br />Capital Assets at Year -End
<br />(Net of Accumulated Depreciation)
<br />Additional information on the City's capital assets can be found in the notes to the financial statements on
<br />pages 46-47.
<br />Long-term debt — At the end of the current fiscal year, the City of Lino Lakes had total bonded debt
<br />outstanding of $18,756,000. Of this amount $9,231,000 comprises tax supported debt and $7,445,000 is
<br />special assessment debt. All outstanding debt carries the general obligation backing for which the City is
<br />liable in the event of default by the property owners subject to the specific taxes, special assessments or
<br />revenues pledged to the retirement of the debt. In addition, the City carries a note to Anoka County for its
<br />share of the cost of the I-35E/County Road 14 Interchange project in the amount of $2,080,000.
<br />G.O. Bonds
<br />G.O. Special Assessment Bonds
<br />Note Payable - Anoka County
<br />Total Outstanding Debt
<br />Governmental Activities
<br />2014 2013
<br />$ 9,231,000 $ 9,865,000 $
<br />7,445,000 5,720,000
<br />2,080,000 3,695,000
<br />Business -Type Activities
<br />2014 2013
<br />2014
<br />Total
<br />$ $ 9,231,000
<br />7,445,000
<br />2,080,000
<br />2013
<br />$ 9,865,000
<br />5,720,000
<br />3,695,000
<br />$ 18,756,000 $ 19,280,000 $ $ - $ 18,756,000 $ 19,280,000
<br />The City of Lino Lakes' total bonded debt increased by $1,091,000 (10.6%) during the current fiscal year.
<br />The key factors for the change include the issuance of $495,000 in 2014A Equipment Certificates and the
<br />issuance of a general obligation bond in the amount $2,645,000 to finance the improvement of 21s'
<br />Avenue, Northpointe addition improvements and the construction of Well # 6 and Wellhouse. Principal in
<br />the amount of $2,049,000 was retired during the year. Additional information on the City's long-term debt
<br />can be found in the notes to the financial statements on pages 48-50.
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<br />Governmental Activities
<br />Business -Type Activities
<br />Total
<br />2014
<br />2013
<br />2014
<br />2013
<br />2014
<br />2013
<br />Land
<br />$ 3,275,859
<br />$ 3,275,859
<br />$
<br />$
<br />$ 3,275,859
<br />$ 3,275,859
<br />Construction in Progress
<br />808,093
<br />-
<br />808,093
<br />-
<br />Buildings
<br />3,116,839
<br />3,301,916
<br />3,116,839
<br />3,301,916
<br />Office Equipment and Furniture
<br />364,999
<br />407,616
<br />364,999
<br />407,616
<br />Vehicles
<br />1,170,030
<br />1,064,565
<br />1,170,030
<br />1,064, 565
<br />Machinery and Shop Equipment
<br />336,387
<br />340,245
<br />211,028
<br />232,927
<br />547,415
<br />573,172
<br />Other Equipment
<br />167,804
<br />182,700
<br />-
<br />-
<br />167,804
<br />182,700
<br />Infrastructure
<br />26,972,973
<br />29,282,072
<br />27,344,994
<br />28,190,357
<br />54,317,967
<br />57,472,429
<br />Capital Assets, Net
<br />36,212,984
<br />37,854,973
<br />27,556,022
<br />28,423,284
<br />63,769,006
<br />66,278,257
<br />Additional information on the City's capital assets can be found in the notes to the financial statements on
<br />pages 46-47.
<br />Long-term debt — At the end of the current fiscal year, the City of Lino Lakes had total bonded debt
<br />outstanding of $18,756,000. Of this amount $9,231,000 comprises tax supported debt and $7,445,000 is
<br />special assessment debt. All outstanding debt carries the general obligation backing for which the City is
<br />liable in the event of default by the property owners subject to the specific taxes, special assessments or
<br />revenues pledged to the retirement of the debt. In addition, the City carries a note to Anoka County for its
<br />share of the cost of the I-35E/County Road 14 Interchange project in the amount of $2,080,000.
<br />G.O. Bonds
<br />G.O. Special Assessment Bonds
<br />Note Payable - Anoka County
<br />Total Outstanding Debt
<br />Governmental Activities
<br />2014 2013
<br />$ 9,231,000 $ 9,865,000 $
<br />7,445,000 5,720,000
<br />2,080,000 3,695,000
<br />Business -Type Activities
<br />2014 2013
<br />2014
<br />Total
<br />$ $ 9,231,000
<br />7,445,000
<br />2,080,000
<br />2013
<br />$ 9,865,000
<br />5,720,000
<br />3,695,000
<br />$ 18,756,000 $ 19,280,000 $ $ - $ 18,756,000 $ 19,280,000
<br />The City of Lino Lakes' total bonded debt increased by $1,091,000 (10.6%) during the current fiscal year.
<br />The key factors for the change include the issuance of $495,000 in 2014A Equipment Certificates and the
<br />issuance of a general obligation bond in the amount $2,645,000 to finance the improvement of 21s'
<br />Avenue, Northpointe addition improvements and the construction of Well # 6 and Wellhouse. Principal in
<br />the amount of $2,049,000 was retired during the year. Additional information on the City's long-term debt
<br />can be found in the notes to the financial statements on pages 48-50.
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