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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2020 <br /> <br /> <br /> <br /> <br />Note 12 INTERFUND TRANSFERS <br /> <br />Individual fund transfers for fiscal year 2020 are as follows: <br /> <br />Transfer In Transfer Out <br />Major Funds: <br />General Fund $380,000 $931,500 <br />G.O. Improvement Note of 2009A - 37,355 <br />G.O. Improvement Bonds of 2016B 460,402 - <br />Area and Unit Charge 15,295 597,778 <br />MSA Construction 37,355 762,838 <br />2018 Street Construction - 659,092 <br />Water Fund - 127,357 <br />Sewer Fund 83,821 - <br />Nonmajor governmental funds 3,229,737 1,090,690 <br />Total $4,206,610 $4,206,610 <br /> <br />During 2020, transfers were made to provide funding for capital improvement projects and capital outlay in <br />accordance with the City’s capital improvement plan. Transfers were also made to provide resources for debt <br />service payments, to close debt service and capital project funds, and to allocate financial resources to funds that <br />received benefit from services provided by another fund. These transfers are routine and consistent with past <br />practices. <br /> <br />78