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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2020
<br />601 Water 602 Sewer Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $5,895,566 $9,609,587 $15,505,153
<br />Due from other governmental units 29,991 2,494 32,485
<br />Accounts receivable - net 138,452 198,265 336,717
<br />Prepaid items 12,839 104,601 117,440
<br />Inventory 20,863 - 20,863
<br /> Total current assets 6,097,711 9,914,947 16,012,658
<br />Noncurrent assets:
<br />Interfund loan receivable - 559,110 559,110
<br />Capital assets:
<br />Construction in progress 7,453,016 2,883,570 10,336,586
<br />Equipment 103,896 446,657 550,553
<br />Water and sewer systems 27,940,244 25,908,535 53,848,779
<br />Total capital assets 35,497,156 29,238,762 64,735,918
<br />Less: Allowance for depreciation (10,448,698) (10,921,023) (21,369,721)
<br /> Net capital assets 25,048,458 18,317,739 43,366,197
<br /> Total assets 31,146,169 28,791,796 59,937,965
<br />Deferred outflows of resources related to pensions 15,756 15,969 31,725
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 33,089 17,504 50,593
<br />Salaries payable 10,301 10,301 20,602
<br />Due to other governments 13,301 3,253 16,554
<br />Other accrued liabilities 34,856 680 35,536
<br />Compensated absences payable - current portion 15,536 15,536 31,072
<br />Total current liabilities 107,083 47,274 154,357
<br />Noncurrent liabilities:
<br />Compensated absences payable - noncurrent portion 5,383 5,383 10,766
<br />Other post employment benefits - noncurrent portion 3,484 3,484 6,968
<br />Net pension liability 173,916 176,266 350,182
<br />Total noncurrent liabilities 182,783 185,133 367,916
<br /> Total liabilities 289,866 232,407 522,273
<br />Deferred inflows of resources related to pensions 13,447 13,629 27,076
<br />Net position:
<br />Investment in capital assets 25,048,458 18,317,739 43,366,197
<br />Unrestricted 5,810,154 10,243,990 16,054,144
<br /> Total net position $30,858,612 $28,561,729 $59,420,341
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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