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CITY OF LINO LAKES, MINNESOTA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />DECEMBER 31, 2015
<br />GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />At the end of the current fiscal year, the City of Lino Lakes is able to report positive balances in all three
<br />categories of net position, both for the government as a whole, as well as for its separate governmental
<br />and business -type activities.
<br />Governmental activities Governmental activities decreased the City of Lino Lakes' net position by
<br />$7,980,709. The cumulative effect of the application of GASB 68 as well as increases in expenses for
<br />public safety and public services activities account for this reduction for 2015.
<br />Business -type activities Business -type activities increased the City of Lino Lakes' net position by
<br />$2,356,159. Infrastructure additions by the city and developers, offset partially by increased depreciation
<br />expense due to a change in accounting estimate provided for this increased in 2015.
<br />Condensed statements of revenues, expenses, and changes in net position highlights are as follows for
<br />the years ended December 31, 2015 and 2014:
<br />15
<br />Governmental Activities
<br />Business -Type
<br />Activities
<br />Total
<br />2015
<br />2014
<br />2015
<br />2014
<br />2015
<br />2014
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services
<br />$ 1,621,832
<br />$ 1,529,040
<br />$ 2,636,469
<br />$ 2,529,524
<br />$ 4,258,301
<br />$ 4,058,564
<br />Operating Grants and Contributions
<br />526,107
<br />840,676
<br />263,024
<br />-
<br />789,131
<br />840,676
<br />Capital Grants and Contributions
<br />1,176,732
<br />335,733
<br />3,035,031
<br />1,035
<br />4,211,763
<br />336,768
<br />General Revenues:
<br />Property Taxes
<br />9,067,390
<br />8,612,016
<br />-
<br />-
<br />9,067,390
<br />8,612,016
<br />Franchise Taxes
<br />101,040
<br />124,292
<br />101,040
<br />124,292
<br />Other Taxes
<br />74,806
<br />70,578
<br />74,806
<br />70,578
<br />Contributions Not Restricted to
<br />Specific Programs
<br />5,363
<br />4,443
<br />-
<br />-
<br />5,363
<br />4,443
<br />Unrestricted Investment Earnings
<br />163,825
<br />114,483
<br />81,084
<br />96,213
<br />244,909
<br />210,696
<br />Change in Market Value
<br />(50,864)
<br />151,212
<br />(29,917)
<br />58,255
<br />(80,781)
<br />209,467
<br />Gain on Disposal of Capital Assets
<br />17,836
<br />1,727
<br />-
<br />17,836
<br />1,727
<br />Total Revenues
<br />12,704,067
<br />11,784,200
<br />5,985,691
<br />2,685,027
<br />18,689,758
<br />14,469,227
<br />EXPENSES
<br />General Government
<br />2,016,351
<br />2,036,550
<br />-
<br />-
<br />2,016,351
<br />2,036,550
<br />Public Safety
<br />5,135,865
<br />4,107,759
<br />5,135,865
<br />4,107,759
<br />Public Service
<br />6,822,972
<br />4,786,121
<br />6,822,972
<br />4,786,121
<br />Parks, Recreation and Forestry
<br />1,148,740
<br />1,093,909
<br />1,148,740
<br />1,093,909
<br />Conservation of Natural Resources
<br />186,111
<br />159,649
<br />186,111
<br />159,649
<br />Community Development
<br />432,268
<br />407,448
<br />432,268
<br />407,448
<br />Interest on Long -Term Debt
<br />632,876
<br />618,680
<br />632,876
<br />618,680
<br />Water
<br />-
<br />-
<br />1,394,897
<br />965,641
<br />1,394,897
<br />965,641
<br />Sewer
<br />-
<br />-
<br />2,089,842
<br />1,628,258
<br />2,089,842
<br />1,628,258
<br />Total Expenses
<br />16,375,183
<br />13,210,116
<br />3,484,739
<br />2,593,899
<br />19,859,922
<br />15,804,015
<br />CHANGE IN NET POSITION
<br />BEFORE TRANSFERS
<br />(3,671,116)
<br />(1,425,916)
<br />2,500,952
<br />91,128
<br />(1,170,164)
<br />(1,334,788)
<br />Transfers
<br />66,834
<br />69,294
<br />(66,834)
<br />(69,294)
<br />CHANGE IN NET POSITION
<br />(3,604,282)
<br />(1,356,622)
<br />2,434,118
<br />21,834
<br />(1,170,164)
<br />(1,334,788)
<br />Net Position - Beginning of Year
<br />48,734,868
<br />50,091,490
<br />41,444,300
<br />41,422,466
<br />90,179,168
<br />91,513,956
<br />Prior Period Adjustment
<br />(4,376,427)
<br />-
<br />(77,959)
<br />-
<br />(4,454,386)
<br />-
<br />Net Assets - Beginning of Year, As Restated
<br />44,358,441
<br />50,091,490
<br />41,366,341
<br />41,422,466
<br />85,724,782
<br />91,513,956
<br />NET POSITION - END OF YEAR
<br />$ 40,754,159
<br />$ 48,734,868
<br />$ 43,800,459
<br />$ 41,444,300
<br />$ 84,554,618
<br />$ 90,179,168
<br />15
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