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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2019
<br />601 Water 602 Sewer Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $6,171,792 $9,549,968 $15,721,760
<br />Due from other governmental units - 2,238 2,238
<br />Accounts receivable - net 121,112 203,883 324,995
<br />Prepaid items 14,034 23,063 37,097
<br />Inventory 22,496 - 22,496
<br /> Total current assets 6,329,434 9,779,152 16,108,586
<br />Noncurrent assets:
<br />Interfund loan receivable - 559,110 559,110
<br />Capital assets:
<br />Construction in progress 3,098,608 3,025,229 6,123,837
<br />Equipment 97,620 294,916 392,536
<br />Water and sewer systems 26,078,583 24,042,195 50,120,778
<br />Total capital assets 29,274,811 27,362,340 56,637,151
<br />Less: Allowance for depreciation (9,844,858) (10,401,473) (20,246,331)
<br /> Net capital assets 19,429,953 16,960,867 36,390,820
<br /> Total assets 25,759,387 27,299,129 53,058,516
<br />Deferred outflows of resources related to pensions 18,497 18,497 36,994
<br />Total assets and deferred outflows 25,777,884 27,317,626 53,095,510
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 23,852 9,089 32,941
<br />Salaries payable 6,881 6,881 13,762
<br />Due to other governments 9,582 3,404 12,986
<br />Other accrued liabilities 13,572 1,335 14,907
<br />Compensated absences payable - current portion 19,298 19,298 38,596
<br />Other post employment benefits - current portion 131 131 262
<br />Total current liabilities 73,316 40,138 113,454
<br />Noncurrent liabilities:
<br />Compensated absences payable - noncurrent portion 336 336 672
<br />Other post employment benefits - noncurrent portion 3,053 3,053 6,106
<br />Net pension liability 140,829 140,829 281,658
<br />Total noncurrent liabilities 144,218 144,218 288,436
<br /> Total liabilities 217,534 184,356 401,890
<br />Deferred inflows of resources related to pensions 32,786 32,786 65,572
<br />Total liabilities and deferred inflows 250,320 217,142 467,462
<br />Net position:
<br />Investment in capital assets 19,429,953 16,960,867 36,390,820
<br />Unrestricted 6,097,611 10,139,617 16,237,228
<br /> Total net position $25,527,564 $27,100,484 $52,628,048
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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