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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2016 <br />Note 21 PRIOR PERIOD ADJUSTMENT <br />During 2016, it was determined that the allocation of the net pension liability and related deferred inflows and outflows <br />of resources between governmental activities and business -type activities was incorrect as of December 31, 2015. As a <br />result, net position as of January 1, 2016 has been restated as follows: <br />Business -type Activities <br />Governmental Water Sewer <br />Activities Fund Fund Total <br />Net position - January 1, as previously reported $40,754,159 $20,401,628 $23,398,831 $84,554,618 <br />Prior period adjustment 177,446 (88,703) (88,743) - <br />Net position - January 1, as restated $40,931,605 $20,312,925 $23,310,088 $84,554,618 <br />84 <br />