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IV-5Management's Discussion and Analysis The City maintains six individual major governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balance for the following major funds: • General Fund • G.O. Improvement Note of2009A-Debt Service Fund • G.O. Improvement Bonds of2016B-Debt Service Fund • Area and Unit Charge -Capital Project Fund • MSA Construction -Capital Project Fund • 2018 Street Reconstruction -Capital Project Fund Data from the other governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. The City adopts an annual appropriated budget for its General Fund and its Program Recreation special revenue fund. A budgetary comparison schedule has been provided for those funds to demonstrate compliance with this budget. The basic governmental fund financial statements are statements 3 through 6 of this report. Proprietary funds. The City maintains two enterprise funds as a part of its proprietary fund type. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to account for its water and sewer utilities. The proprietary fund statements provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the water and sewer funds, which are considered to be major funds of the City. The basic proprietary fund financial statements are statements 7 through 9 of this report. Fiduciary Funds. Fiduciary funds are used to account for resources held by the City as an agent for individuals, private organimtions, or other governments. Fiduciary funds are not reflected by the government-wide financial statements because the resources of those funds are not available to support the City's own programs. The basic fiduciary fund statements are Statements 10 and 28. Notes to the fmancial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found following Statement 10. Other information. The combining statements referred to earlier in connection with non-major governmental funds are presented immediately following the required supplementary Management's Discussion and Analysis information. Combining and individual fund statements and schedules are presented as Statements 19 through 27. Government-Wide Financial Analysis As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the City, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $100,077,798 at the close of the most recent fiscal year. The largest portion of the City's net position ($57,349,634, or 57%) reflects its net investment in capital assets ( e.g. land, buildings, equipment, and infrastructure) less any related debt used to acquire those assets that is still outstanding. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City's investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. City of Lino Lakes' Net Position Govemmental. Activities Business-!m! Activities Total, 2018 2017 2018 2017 2018 _ill! ,._, Current:andotberasaets $41,949,582 $32,942,034 $16,003,964 $15,272,668 $57,953,546 $48,214,702 capital usets 4411021567 4~6111027 3'?:,.109,019 3118311950 7618111646 74,442{/77 Totaluset:s $86,0521149 S7S~S3106l ~7131043 $471104i§:18 $1341765,192 $122,657,679 Def'ened outflows of resources $4.305,683 $51625~20 $61906 $97118 $4,3671589 SS,722.338 Liabilities: Long-tem1. liabilitie1 outstanding $30,443,714 $27,257,669 $312,016 $413,334 $30,755,730 $27,671,003 Other liabilities 11981J50 894136 87787 43~53 ~069J37 ~ TotaJliabilities $321425~64 $281151,805 $3991803 $4561787 $32.825.067 ~ Deferred inflows of resources $611341676 ~4101858 $95~ $66.254 $6~91916 ~812 Net position: Net investment in capital asaets $24,640,555 $22,868,259 $32,709,079 $31,831,950 $57,349,634 $54,700,209 Restricted 10,579,817 11,730,147 10,579,817 11,730,147 u..--i 161577,520 12,017,212 1515701827 1418461045 321148J47 26,863,257 Totalnetposition $51.7971892 ~6151618 ~791906 $46,6771995 $10010771798 ~·13 $10,579,817 of the City's net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position ($32,148,347) may be used to meet ongoing obligations to citizens and creditors. At the end of the current fiscal year, the City is able to report positive balances in all three categories of net position, both for the government as a whole, as well as for its separate governmental and business-type activities.
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