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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2015 <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, 2015 are as follows: <br />Governmental Activity: <br />G.O. Improvement Bonds 2005A <br />Other Nonmajor Governmental Funds <br />Business -type Activity: <br />Sewer Fund <br />Receivable Payable <br />$ - $ 2,876,648 <br />3,660,455 1,342,917 <br />559,110 - <br />$ 4,219,565 $ 4,219,565 <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, 2015 are as follows: <br />Interfund transfers are other financing sources and uses within the fund financial statements. The purposes of the <br />transfers are to provide funding for capital improvement projects and capital outlay in accordance with the City's <br />capital improvement plan. There are also transfers to and from other funds within the nonmajor governmental funds <br />that are for closing out bond funds and moving the residual to another debt service fund. These transfers are routine <br />and consistent with past practices. <br />61 <br />Receivable <br />Payable <br />Governmental Activity: <br />Area and Unit Charge <br />$ <br />285,947 <br />$ <br />- <br />Other Nonmajor Governmental Funds <br />- <br />285,947 <br />$ <br />285,947 <br />$ <br />285,947 <br />The purpose of the advance from the Area and Unit Charge Fund <br />is to temporarily <br />finance projects in the Dedicated <br />Parks Fund. <br />Note 14 INTERFUND TRANSFERS <br />Individual fund transfers for fiscal year 2015 are as follows: <br />Transfer In <br />Transfer Out <br />Governmental Activity: <br />General Fund <br />$ <br />490,894 <br />$ <br />(590,245) <br />G.O. Improvement Bonds 2005A <br />683,729 <br />- <br />Improvement Note 2009F <br />378,000 <br />Area and Unit Charge <br />- <br />(670,734) <br />Other Nonmajor Governmental Funds <br />1,850,348 <br />(2,075,158) <br />Total Governmental Activity <br />3,402,971 <br />(3,336,137) <br />Business -type Activity: <br />Water Fund <br />- <br />(33,417) <br />Sewer Fund <br />- <br />(33,417) <br />Total Business -Type Activity <br />- <br />(66,834) <br />Total <br />$ <br />3,402,971 <br />$ <br />(3,402,971) <br />Interfund transfers are other financing sources and uses within the fund financial statements. The purposes of the <br />transfers are to provide funding for capital improvement projects and capital outlay in accordance with the City's <br />capital improvement plan. There are also transfers to and from other funds within the nonmajor governmental funds <br />that are for closing out bond funds and moving the residual to another debt service fund. These transfers are routine <br />and consistent with past practices. <br />61 <br />