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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
<br />investments are held, and diversifying the investment portfolio. This is measured by the assignment of
<br />a rating by a nationally recognized statistical rating organization.
<br />Concentration of Credit Risk -Concentration of credit risk is the risk of loss that may be attributed to
<br />the magnitude of a government's investment in a single issuer. The City places no limit on the amount
<br />it may invest in any one issuer. At December 31, 2017, no individual investments exceeded 5% of the
<br />City's total investment portfolio.
<br />Note3 RECEIVABLES
<br />Significant receivable balances not expected to be collected within one year of December 31, 2017 are as
<br />follows:
<br />Property Special
<br />Taxes Assessments Notes
<br />Receivable Receivable Receivable
<br />Major Funds:
<br />General Fund $35,344 $ $
<br />G.O. Improvement Note of2009A 2,630,915
<br />G.O. Improvement Bonds of2016B 2,994,379
<br />Area and Unit Charge 1,029,733
<br />Nonmajor Funds 8,179 1,042,887 225,000
<br />Total $43,523 $7,697,914 $225,000
<br />Note4 UNAVAILABLE REVENUE
<br />Total
<br />$35,344
<br />2,630,915
<br />2,994,379
<br />1,029,733
<br />1,276,066
<br />$7,966,437
<br />Governmental funds report deferred inflows of resources in connection with receivables for revenues that are not
<br />considered to be available to liquidate liabilities of the current period. At the end of the current fiscal year, the
<br />various components of unavailable revenue reported in the governmental funds are as follows:
<br />Property Special
<br />Taxes Assessments
<br />Receivable Receivable _____!.2tal
<br />Major Funds:
<br />General Fund $56,559 $329 $56,888
<br />G.O. hnprovement Note of2009A 2,639,483 2,639,483
<br />G.O. Improvement Bonds of2016B 2,994,379 2,994,379
<br />Area and Unit Charge 1,126,587 1,126,587
<br />Nonmajor Funds 13,088 1,190,885 1,203,973
<br />Total $69,647 $7,951,663 $8,021,310
<br />CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
<br />Notes CAPITAL ASSETS
<br />Capital asset activity for the year ended December 31, 2017 was as follows:
<br />Beginning Ending
<br />Balance Increases ~ Transfers Balance
<br />Governmental activities:
<br />Capital assets, not being depreciated:
<br />Land $3.275,859 $44,200 $ $ $3,320,059
<br />Wetland credits 162,372 162,372
<br />Construction in progress 8,961,062 2,742,038 (9,050,652) 010,2101 2,482,238
<br />Total capital assets, not being depreciated 12~36,921 2,948,610 (9,050,652) 0 70,210) ~669
<br />Capital assets, being depreciated:
<br />Buildings 6,891,847 4,029,901 10,921,748
<br />Office equipment and furniture 659,440 124,186 783,626
<br />Vehicles 3,417,668 1,102,354 (175,204) 4,344,818
<br />Machinery and shop equipment 2,309,413 275,921 (28,017) 2,557,317
<br />Other equipment 1,034,126 77,284 1,111,410
<br />Infrastructure 80,738,460 5 144 197 85,882,657
<br />Total capital assets, being depreciated 95,050,954 10,753,843 (203,221! 0 105,601,576
<br />Less accumulated depreciation for:
<br />Buildings 4,185,492 360,245 4,545,737
<br />Office equipment and furniture 501,736 45,113 546,849
<br />Vehicles 2,046,936 396,889 (115,362) 2,328,463
<br />Machinery and shop equipment 1,292,081 154,165 (22,553) 1,423,693
<br />Other equipment 827,741 16,573 844,314
<br />Infrastructure 57,279,464 1,986,698 59,266,162
<br />Total accumulated depreciation 66,133,450 2,959,683 (137,915) 0 68,955,218
<br />Total capital assets being depreciated -net 28,917,504 7794160 (65,306! (170,210) 36,646~58
<br />Governmental activities capital assets -net $41,154,425 $10,742,770 ($9,115,958) ($170,210! $42,611,027
<br />Beginning Ending
<br />Balance Increases Decreases Transfers Balance
<br />Business-type activities:
<br />Capital assets, not being depreciated:
<br />Construction in progress $5,617,436 $1,006,237 ($511161520) $ .......!!.8153
<br />Capital assets, being depreciated:
<br />Machinery and shop equipment 474,654 474,654
<br />Water and sewer systems 42,858~2 4 969 313 170,210 47,997,765
<br />Total capital assets. being depreciated 43,332,896 4,969,313 0 170 210 48,472,419
<br />Accumulated depreciation for:
<br />Machinery and shop equipment 307,215 19,870 327,085
<br />Water and sewer systems 16,782,509 1,038,028 17,820,537
<br />Total accumulated depreciation 17,089,724 110511898 0 0 18,147,622
<br />Total capital assets being depreciated -net 26,243,172 3 911,415 0 170~10 30,324,797
<br />Business-type activities capital assets -net $31,860,608 $4,9171652 ($5 11161520! $170,210 $31,831,950 IV-25
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