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Management’s Discussion and Analysis
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<br />Government-Wide Financial Analysis
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<br />As noted earlier, net position may serve over time as a useful indicator of a government's
<br />financial position. In the case of the City, assets and deferred outflows of resources exceeded
<br />liabilities and deferred inflows of resources by $123,513,590 at the close of the most recent
<br />fiscal year.
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<br />The largest portion of the City’s net position ($75,326,505, or 61%) reflects its net
<br />investment in capital assets (e.g. land, buildings, equipment, and infrastructure) less any
<br />related debt used to acquire those assets that is still outstanding. The City uses these capital
<br />assets to provide services to citizens; consequently, these assets are not available for future
<br />spending. Although the City’s investment in its capital assets is reported net of related debt,
<br />it should be noted that the resources needed to repay this debt must be provided from other
<br />sources, since the capital assets themselves cannot be used to liquidate these liabilities.
<br />
<br />City of Lino Lakes’ Net Position
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<br />2020 2019 2020 2019 2020 2019
<br />Assets:
<br />Current and other assets $44,476,092 $42,013,231 $16,571,768 $16,667,696 $61,047,860 $58,680,927
<br />Capital assets 55,151,912 49,859,684 43,366,197 36,390,820 98,518,109 86,250,504
<br /> Total assets $99,628,004 $91,872,915 $59,937,965 $53,058,516 $159,565,969 $144,931,431
<br />Deferred outflows of resources $1,995,741 $3,084,049 $31,725 $36,994 $2,027,466 $3,121,043
<br />Liabilities:
<br />Long-term liabilities outstanding $30,637,047 $27,963,093 $398,988 $327,294 $31,036,035 $28,290,387
<br />Other liabilities 3,722,743 3,560,168 123,285 74,596 3,846,028 3,634,764
<br /> Total liabilities $34,359,790 $31,523,261 $522,273 $401,890 $34,882,063 $31,925,151
<br />Deferred inflows of resources $3,170,706 $4,970,184 $27,076 $65,572 $3,197,782 $5,035,756
<br />Net position:
<br />Net investment in capital assets $31,960,308 $28,433,053 $43,366,197 $36,390,820 $75,326,505 $64,823,873
<br />Restricted 13,446,203 12,390,431 - - 13,446,203 12,390,431
<br />Unrestricted 18,686,738 17,640,035 16,054,144 16,237,228 34,740,882 33,877,263
<br /> Total net position $64,093,249 $58,463,519 $59,420,341 $52,628,048 $123,513,590 $111,091,567
<br />Governmental Activities Business-Type Activities Totals
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<br />$13,446,203 of the City’s net position represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of unrestricted net position
<br />($34,740,882) may be used to meet ongoing obligations to citizens and creditors.
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<br />At the end of the current fiscal year, the City is able to report positive balances in all three
<br />categories of net position, both for the government as a whole, as well as for its separate
<br />governmental and business-type activities.
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