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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2019 <br /> <br /> <br /> <br /> <br />Amounts reported as deferred outflows and inflows of resources related to OPEB will be recognized in <br />OPEB expense as follows: <br /> <br />Year Ended OPEB <br />December 31,Expense <br />2020 ($25,033) <br />2021 (25,033) <br />2022 (25,033) <br />2023 (25,033) <br />2024 (25,033) <br />Thereafter (142,130) <br />($267,295) <br /> <br /> <br />Note 10 STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY <br /> <br />A. DEFICIT FUND BALANCES <br /> <br />The City has deficit fund balances at December 31, 2019 as follows: <br /> <br />Fund Balance <br />Deficit <br />Major Funds: <br />G.O. Improvement Bonds of 2016B ($2,282,686) <br />Nonmajor Funds: <br />G.O. Improvement Bonds of 2010A (355) <br />Tax Increment Financing 1-11 (800,286) <br />Cedar Street Reconstruction (87,834) <br /> <br />The City intends to fund these deficits through future tax levies, special assessment collections, tax <br />increments, transfers from other funds, and various other sources. <br /> <br /> <br />77