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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2021
<br />601 Water 602 Sewer Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $6,131,906 $9,739,563 $15,871,469
<br />Due from other governmental units - 2,236 2,236
<br />Accounts receivable - net 175,683 225,168 400,851
<br />Prepaid items 14,158 113,399 127,557
<br />Inventory 18,077 - 18,077
<br /> Total current assets 6,339,824 10,080,366 16,420,190
<br />Noncurrent assets:
<br />Interfund loan receivable - 559,110 559,110
<br />Capital assets:
<br />Construction in progress 1,741,448 1,497,757 3,239,205
<br />Equipment 148,436 521,307 669,743
<br />Water and sewer systems 34,571,736 27,599,155 62,170,891
<br />Total capital assets 36,461,620 29,618,219 66,079,839
<br />Less: Allowance for depreciation (11,066,537) (11,447,286) (22,513,823)
<br /> Net capital assets 25,395,083 18,170,933 43,566,016
<br /> Total assets 31,734,907 28,810,409 60,545,316
<br />Deferred outflows of resources related to pensions 88,826 89,039 177,865
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 49,852 63,791 113,643
<br />Salaries payable 8,991 8,991 17,982
<br />Due to other governments 13,021 1,412 14,433
<br />Other accrued liabilities 4,999 680 5,679
<br />Compensated absences payable - current portion 23,938 23,938 47,876
<br />Total current liabilities 100,801 98,812 199,613
<br />Noncurrent liabilities:
<br />Compensated absences payable - noncurrent portion 1,260 1,260 2,520
<br />Other post employment benefits - noncurrent portion 23,103 23,103 46,206
<br />Net pension liability 121,831 124,181 246,012
<br />Total noncurrent liabilities 146,194 148,544 294,738
<br /> Total liabilities 246,995 247,356 494,351
<br />Deferred inflows of resources related to pensions 118,515 118,697 237,212
<br />Net position:
<br />Investment in capital assets 25,395,083 18,170,933 43,566,016
<br />Unrestricted 6,063,140 10,362,462 16,425,602
<br /> Total net position $31,458,223 $28,533,395 $59,991,618
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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