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Management’s Discussion and Analysis
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<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 $134,843,980 at the close of the most recent
<br />fiscal year.
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<br />The largest portion of the City’s net position ($82,553,714, or 61%) 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.
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<br />City of Lino Lakes’ Net Position
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<br />2021 2020 2021 2020 2021 2020
<br />Assets:
<br />Current and other assets $48,102,801 $44,476,092 $16,979,300 $16,571,768 $65,082,101 $61,047,860
<br />Capital assets 61,128,255 55,151,912 43,566,016 43,366,197 104,694,271 98,518,109
<br /> Total assets $109,231,056 $99,628,004 $60,545,316 $59,937,965 $169,776,372 $159,565,969
<br />Deferred outflows of resources $4,538,110 $1,995,741 $177,865 $31,725 $4,715,975 $2,027,466
<br />Liabilities:
<br />Long-term liabilities outstanding $27,292,908 $30,637,047 $342,614 $398,988 $27,635,522 $31,036,035
<br />Other liabilities 4,881,735 3,722,743 151,737 123,285 5,033,472 3,846,028
<br /> Total liabilities $32,174,643 $34,359,790 $494,351 $522,273 $32,668,994 $34,882,063
<br />Deferred inflows of resources $6,742,161 $3,170,706 $237,212 $27,076 $6,979,373 $3,197,782
<br />Net position:
<br />Net investment in capital assets $38,987,698 $31,960,308 $43,566,016 $43,366,197 $82,553,714 $75,326,505
<br />Restricted 13,889,250 13,446,203 - - 13,889,250 13,446,203
<br />Unrestricted 21,975,414 18,686,738 16,425,602 16,054,144 38,401,016 34,740,882
<br /> Total net position $74,852,362 $64,093,249 $59,991,618 $59,420,341 $134,843,980 $123,513,590
<br />Governmental Activities Business-Type Activities Totals
<br /> $13,889,250 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 />($38,401,016) 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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