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CITY OF LINO LAKES, MINNESOTA
<br />Statement 7
<br />STATEMENT OF NET POSITION - PROPRIETARY FUNDS
<br />December 31, 2014
<br />Total
<br />Assets
<br />Water
<br />Sewer
<br />2014
<br />Current assets:
<br />Cash and cash equivalents
<br />$ 5,322,125
<br />$ 7,733,759
<br />$ 13,055,884
<br />Accounts receivable
<br />143,208
<br />207,520
<br />350,728
<br />Due from other governmental units
<br />-
<br />1,750
<br />1,750
<br />Interfund receivable
<br />-
<br />559,110
<br />559,110
<br />Due from county - special assessments
<br />1,024
<br />1,025
<br />2,049
<br />Prepaid items
<br />12,154
<br />21,671
<br />33,825
<br />Total current assets
<br />5,478,511
<br />8,524,835
<br />14,003,346
<br />Non-current assets:
<br />Inventory
<br />26,262
<br />-
<br />26,262
<br />Capital assets being depreciated:
<br />Buildings
<br />48,690
<br />-
<br />48,690
<br />Equipment
<br />155,276
<br />390,235
<br />545,511
<br />Water and sewer systems
<br />20,088,392
<br />21,406,972
<br />41,495,364
<br />Total capital assets
<br />20,292,358
<br />21,797,207
<br />42,089,565
<br />Less: allowance for depreciation
<br />(6,854,589)
<br />(7,678,954)
<br />(14,533,543)
<br />Net capital assets
<br />13,437,769
<br />14,118,253
<br />27,556,022
<br />Total noncurrent assets
<br />13,464,031
<br />14,118,253
<br />27,582,284
<br />Total assets
<br />18,942,542
<br />22,643,088
<br />41,585,630
<br />Liabilities
<br />Current liabilities:
<br />Accounts payable
<br />50,339
<br />28,421
<br />78,760
<br />Salaries payable
<br />5,053
<br />4,727
<br />9,780
<br />Compensated absences payable - current portion
<br />18,363
<br />18,363
<br />36,726
<br />Total current liabilities
<br />73,755
<br />51,511
<br />125,266
<br />Non-current liabilities:
<br />Compensated absences payable - long term
<br />8,032
<br />8,032
<br />16,064
<br />Total liabilities
<br />81,787
<br />59,543
<br />141,330
<br />Net position
<br />Investment in capital assets
<br />13,437,769
<br />14,118,253
<br />27,556,022
<br />Unrestricted
<br />5,422,986
<br />8,465,292
<br />13,888,278
<br />Total net position
<br />$ 18,860,755
<br />$ 22,583,545
<br />$ 41,444,300
<br />The accompanying notes are an integral part of these basic financial statements.
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