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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2020 <br /> <br /> <br /> <br /> <br />Note 11 INTERFUND RECEIVABLES AND PAYABLES <br /> <br />Short-term advances to funds that have insufficient cash balances are classified as advances to/from other funds. <br />Long-term interfund loans are classified as interfund loan receivable/payable. A summary of interfund <br />receivables and payables at December 31, 2020 is as follows: <br /> <br />Receivable Payable <br />Short-term advances: <br />Major Funds: <br />G.O. Improvement Bonds of 2016B $156,310 $ - <br />Nonmajor Funds: <br />Closed Bond Fund 683,093 - <br />Tax Increment Financing 1-11 - 839,403 <br />$839,403 $839,403 <br />Long-term interfund loans: <br />Major Funds: <br />G.O. Improvement Bonds of 2016B $ - $2,876,643 <br />Sewer Fund 559,110 - <br />Nonmajor Funds: <br />Building and Facilities 2,317,533 - <br />$2,876,643 $2,876,643 <br /> <br />77