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Management’s Discussion and Analysis
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<br />
<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 $111,091,567 at the close of the most recent
<br />fiscal year.
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<br />The largest portion of the City’s net position ($64,823,873, or 58%) 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
<br />
<br />2019 2018 2019 2018 2019 2018
<br />Assets:
<br />Current and other assets $42,013,231 $41,949,582 $16,667,696 $16,003,964 $58,680,927 $57,953,546
<br />Capital assets 49,859,684 44,102,567 36,390,820 32,709,079 86,250,504 76,811,646
<br /> Total assets $91,872,915 $86,052,149 $53,058,516 $48,713,043 $144,931,431 $134,765,192
<br />Deferred outflows of resources $3,084,049 $4,305,683 $36,994 $61,906 $3,121,043 $4,367,589
<br />Liabilities:
<br />Long-term liabilities outstanding $27,963,093 $30,443,714 $327,294 $312,016 $28,290,387 $30,755,730
<br />Other liabilities 3,560,168 1,981,550 74,596 87,787 3,634,764 2,069,337
<br /> Total liabilities $31,523,261 $32,425,264 $401,890 $399,803 $31,925,151 $32,825,067
<br />Deferred inflows of resources $4,970,184 $6,134,676 $65,572 $95,240 $5,035,756 $6,229,916
<br />Net position:
<br />Net investment in capital assets $28,433,053 $24,640,555 $36,390,820 $32,709,079 $64,823,873 $57,349,634
<br />Restricted 12,390,431 10,579,817 - - 12,390,431 10,579,817
<br />Unrestricted 17,640,035 16,577,520 16,237,228 15,570,827 33,877,263 32,148,347
<br /> Total net position $58,463,519 $51,797,892 $52,628,048 $48,279,906 $111,091,567 $100,077,798
<br />Governmental Activities Business-Type Activities Totals
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<br />$12,390,431 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 />($33,877,263) 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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