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CITY OF LINO LAKES, MINNESOTA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />DECEMBER 31, 2015
<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, 2015, is $70,355,866. This investment in capital assets includes land,
<br />buildings, office equipment and furniture, vehicles, machinery and equipment, other capital assets, and
<br />infrastructure. This represents an increase in the City of Lino Lakes' investment in capital assets of
<br />approximately 10%. Developer lead infrastructure additions for 2015 include NorthPointe 1St Addition as
<br />well as Saddle Club 1St Addition. The City completed construction of Well No. 6, while the pump house is
<br />still pending completion. Also sitting in construction in progress and pending final completion are, the
<br />Shenandoah Area Street Improvements, the construction of Fire Station #2, and the Birch Street turn
<br />lanes and infrastructure improvements.
<br />Total
<br />2015
<br />$ 3,275,859
<br />9,098,446
<br />2,802,413
<br />133,963
<br />1,141,371
<br />1,262,413
<br />193,122
<br />52,448,279
<br />$ 70,355,866
<br />2014
<br />$ 3,275,859
<br />808,093
<br />3,116,839
<br />364,999
<br />1,170,030
<br />547,414
<br />167,804
<br />54,317,967
<br />$ 63,769,005
<br />Additional information on the City's capital assets can be found in the notes to the financial statements on
<br />pages 48-49.
<br />Long-term debt — At the end of the current fiscal year, the City of Lino Lakes had total bonded debt
<br />outstanding of $24,611,250. Of this amount $16,406,250 comprises tax supported debt and $6,485,000 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 1-35E/County Road 14 Interchange project in the amount of $1,720,000.
<br />G.O. Bonds
<br />G.O. Special Assessment Bonds
<br />Note Payable - Anoka County
<br />Governmental Activities Business -Type Activities Total
<br />2015 2014 2015 2014 2015 2014
<br />$ 16,406,250 $ 9,231,000 $ - $ $ 16,406,250 $ 9,231,000
<br />6,485,000 7,445,000
<br />1,720,000 2,080,000
<br />6,485,000 7,445,000
<br />1,720,000 2,080,000
<br />Total Outstanding Debt $ 24,611,250 $ 18,756,000 $ - $ - $ 24,611,250 $ 18,756,000
<br />The City of Lino Lakes' total bonded debt increased by $6,215,250 (37.3%) during the current fiscal year.
<br />The key factors for the change include the issuance of $198,250 in 2015A Equipment Certificates,
<br />$963,000 in 2015B Certificates, $3,095,000 of General Obligation Bonds to finance street reconstruction
<br />in the Shenandoah Area and public infrastructure improvements related of the construction of Fire Station
<br />#2, and $4,350,000 in EDA Lease Revenue Bonds to finance the construction of Fire Station #2 in the
<br />City of Lino Lakes. Principal in the amount of $2,391,000 was retired during the year. Additional
<br />information on the City's long-term debt can be found in the notes to the financial statements on pages
<br />50-52.
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<br />Capital Assets at Year -End
<br />(Net of Accumulated Depreciation)
<br />Governmental Activities
<br />Business -Type Activities
<br />2015
<br />2014
<br />2015
<br />2014
<br />Land
<br />$ 3,275,859
<br />$ 3,275,859
<br />$ -
<br />$ -
<br />Construction in Progress
<br />7,268,375
<br />808,093
<br />1,830,071
<br />Buildings
<br />2,802,413
<br />3,116,839
<br />-
<br />Office Equipment and Furniture
<br />133,963
<br />364,999
<br />-
<br />Vehicles
<br />1,141,371
<br />1,170,030
<br />-
<br />-
<br />Machinery and Shop Equipment
<br />1,109,527
<br />336,387
<br />152,886
<br />211,027
<br />Other Equipment
<br />193,122
<br />167,804
<br />-
<br />-
<br />Infrastructure
<br />25,303,407
<br />26,972,973
<br />27,144,872
<br />27,344,994
<br />Capital Assets, Net
<br />$ 41,228,037
<br />$ 36,212,984
<br />$ 29,127,829
<br />$ 27,556,021
<br />Total
<br />2015
<br />$ 3,275,859
<br />9,098,446
<br />2,802,413
<br />133,963
<br />1,141,371
<br />1,262,413
<br />193,122
<br />52,448,279
<br />$ 70,355,866
<br />2014
<br />$ 3,275,859
<br />808,093
<br />3,116,839
<br />364,999
<br />1,170,030
<br />547,414
<br />167,804
<br />54,317,967
<br />$ 63,769,005
<br />Additional information on the City's capital assets can be found in the notes to the financial statements on
<br />pages 48-49.
<br />Long-term debt — At the end of the current fiscal year, the City of Lino Lakes had total bonded debt
<br />outstanding of $24,611,250. Of this amount $16,406,250 comprises tax supported debt and $6,485,000 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 1-35E/County Road 14 Interchange project in the amount of $1,720,000.
<br />G.O. Bonds
<br />G.O. Special Assessment Bonds
<br />Note Payable - Anoka County
<br />Governmental Activities Business -Type Activities Total
<br />2015 2014 2015 2014 2015 2014
<br />$ 16,406,250 $ 9,231,000 $ - $ $ 16,406,250 $ 9,231,000
<br />6,485,000 7,445,000
<br />1,720,000 2,080,000
<br />6,485,000 7,445,000
<br />1,720,000 2,080,000
<br />Total Outstanding Debt $ 24,611,250 $ 18,756,000 $ - $ - $ 24,611,250 $ 18,756,000
<br />The City of Lino Lakes' total bonded debt increased by $6,215,250 (37.3%) during the current fiscal year.
<br />The key factors for the change include the issuance of $198,250 in 2015A Equipment Certificates,
<br />$963,000 in 2015B Certificates, $3,095,000 of General Obligation Bonds to finance street reconstruction
<br />in the Shenandoah Area and public infrastructure improvements related of the construction of Fire Station
<br />#2, and $4,350,000 in EDA Lease Revenue Bonds to finance the construction of Fire Station #2 in the
<br />City of Lino Lakes. Principal in the amount of $2,391,000 was retired during the year. Additional
<br />information on the City's long-term debt can be found in the notes to the financial statements on pages
<br />50-52.
<br />20
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