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Comprehensive Annual Financial Report 12/31/2014
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Comprehensive Annual Financial Report 12/31/2014
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Comprehensive Annual Financial Report
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12/31/2014
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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2014 <br />Note 13 INTERFUND RECEIVABLE AND PAYABLES <br />The purpose of the interfund receivable and payable balances is for the elimination of negative cash between funds <br />and at December 31, 2014 are as follows: <br />Receivable Payable <br />Governmental Activity: <br />G.O. Improvement Bonds 2005A $ - $ 2,494,643 <br />Other Nonmajor Governmental Funds 2,958,421 1,022,888 <br />Business -type Activity: <br />Sewer Fund 559,110 - <br />$ 3,517,531 $ 3,517,531 <br />Interfund receivable and payable balances not expected to be repaid within one year are reported as advances to and <br />from other fund and at December 31, 2014 are as follows: <br />Governmental Activity: <br />Area and Unit Charge <br />Other Nonmajor Governmental Funds <br />Receivable <br />$ 374,706 <br />$ 374,706 <br />Payable <br />374,706 <br />$ 374,706 <br />The purpose of the advance from the Area and Unit Charge Fund is to temporarily finance projects in the Dedicated <br />Parks Fund. <br />Note 14 INTERFUND TRANSFERS <br />Individual fund transfers for fiscal year 2014 are as follows: <br />Governmental Activity: <br />General Fund <br />G.O. Improvement Note 2009A <br />Improvement Bonds of 2009F <br />Area and Unit Charge <br />Municipal State Aid <br />Other Nonmajor Governmental Funds <br />Total Governmental Activity <br />Business -type Activity: <br />Water Fund <br />Sewer Fund <br />Total Business -Type Activity <br />Total <br />Transfer In <br />$ 10,000 <br />141,838 <br />121,012 <br />2,211,106 <br />2,608,534 <br />$ 2,608,534 <br />Transfer Out <br />$ (565,196) <br />(415,362) <br />(854,778) <br />(703,904) <br />(2,539,240) <br />(34,647) <br />(34,647) <br />(69,294) <br />$ (2,608,534) <br />Interfund transfers are other financing sources and uses within the fund financial statements. The purpose of the <br />transfers is to provide funding for capital improvement projects, capital outlay, and debt service as well as to open <br />and close funds. <br />55 <br />
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