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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
<br />Amounts reported as deferred outflows and inflows of resources related to OPEB will be recognized in
<br />OPEB expense as follows:
<br />Year Ended
<br />December 31,
<br />2018
<br />2019
<br />2020
<br />2021
<br />2022
<br />Thereafter
<br />OPEB
<br />Expense
<br />($3,923)
<br />(3,923)
<br />(3,923)
<br />(3,923)
<br />(3,923)
<br />(31,468)
<br />($51,083)
<br />Note 11 STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
<br />A. DEFICIT FUND BALANCES
<br />The City has deficit fund balances at December 31, 2017 as follows:
<br />The City intends to fund these deficits through future tax levies, special assessment levies, tax
<br />increments, transfers from other funds, and various other sources.
<br />B. EXPENDITURES IN EXCESS OF BUDGET
<br />The following is a listing of departments within the General Fund that exceeded budget appropriations:
<br />General government:
<br />Engineering/planning
<br />Government buildings
<br />Public services:
<br />Parks
<br />Recreation
<br />Final
<br />Budget Actual
<br />$105,706 $111,441
<br />603,318 636,089
<br />639,281 664,740
<br />246,949 248,031
<br />Overage
<br />$5,735
<br />32,771
<br />25,459
<br />1,082
<br />Additionally, actual expenditures of the Program Recreation Special Revenue Fund exceeded final
<br />budgeted expenditures by $26,51 L
<br />78
<br />Fund Balance
<br />Deficit
<br />Nonmajor Governmental Funds:
<br />G.O. Improvement Bonds of 2016B
<br />($1,932,462)
<br />Tax Increment Financing 1-11
<br />(777,999)
<br />Tax Increment Financing 1-12
<br />(1,044)
<br />2018 Street Reconstruction
<br />(197,668)
<br />The City intends to fund these deficits through future tax levies, special assessment levies, tax
<br />increments, transfers from other funds, and various other sources.
<br />B. EXPENDITURES IN EXCESS OF BUDGET
<br />The following is a listing of departments within the General Fund that exceeded budget appropriations:
<br />General government:
<br />Engineering/planning
<br />Government buildings
<br />Public services:
<br />Parks
<br />Recreation
<br />Final
<br />Budget Actual
<br />$105,706 $111,441
<br />603,318 636,089
<br />639,281 664,740
<br />246,949 248,031
<br />Overage
<br />$5,735
<br />32,771
<br />25,459
<br />1,082
<br />Additionally, actual expenditures of the Program Recreation Special Revenue Fund exceeded final
<br />budgeted expenditures by $26,51 L
<br />78
<br />
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