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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2018
<br />601 Water 602 Sewer Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $6,022,044 $8,977,444 $14,999,488
<br />Due from other governmental units - 1,982 1,982
<br />Accounts receivable - net 150,405 215,893 366,298
<br />Prepaid items 13,909 23,279 37,188
<br />Inventory 39,898 - 39,898
<br /> Total current assets 6,226,256 9,218,598 15,444,854
<br />Noncurrent assets:
<br />Interfund loan receivable - 559,110 559,110
<br />Capital assets:
<br />Construction in progress 818,359 804,673 1,623,032
<br />Equipment 154,909 333,754 488,663
<br />Water and sewer systems 25,796,237 24,042,195 49,838,432
<br />Total capital assets 26,769,505 25,180,622 51,950,127
<br />Less: Allowance for depreciation (9,296,553) (9,944,495) (19,241,048)
<br /> Net capital assets 17,472,952 15,236,127 32,709,079
<br /> Total assets 23,699,208 25,013,835 48,713,043
<br />Deferred outflows of resources related to pensions 30,953 30,953 61,906
<br />Total assets and deferred outflows 23,730,161 25,044,788 48,774,949
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 28,110 33,294 61,404
<br />Salaries payable 4,952 4,952 9,904
<br />Due to other governments 8,453 2,952 11,405
<br />Other accrued liabilities 3,110 1,964 5,074
<br />Compensated absences payable - current portion 14,146 14,146 28,292
<br />Total current liabilities 58,771 57,308 116,079
<br />Noncurrent liabilities:
<br />Compensated absences payable - noncurrent portion 2,293 2,293 4,586
<br />Other post employment benefits 4,297 4,297 8,594
<br />Net pension liability 135,272 135,272 270,544
<br />Total noncurrent liabilities 141,862 141,862 283,724
<br /> Total liabilities 200,633 199,170 399,803
<br />Deferred inflows of resources related to pensions 47,620 47,620 95,240
<br />Total liabilities and deferred inflows 248,253 246,790 495,043
<br />Net position:
<br />Investment in capital assets 17,472,952 15,236,127 32,709,079
<br />Unrestricted 6,008,956 9,561,871 15,570,827
<br /> Total net position $23,481,908 $24,797,998 $48,279,906
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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