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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br />Amounts reported as deferred outflows and inflows of resources related to OPEB will be recognized in <br />OPEB expense as follows: <br />Year Ended <br />OPEB <br />December 31, <br />Expense <br />2022 <br />($42,136) <br />2023 <br />(42,136) <br />2024 <br />(42,136) <br />2025 <br />(42,136) <br />2026 <br />(42,136) <br />Thereafter <br />(146,963) <br />($357,643) <br />Note 10 STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY <br />A. DEFICIT FUND BALANCES <br />The City has deficit fund balances at December 31, 2021 as follows: <br />Fund Balance <br />Deficit <br />Major Funds: <br />G.O. Improvement Bonds of 2016B ($2,470,082) <br />Nonmajor Funds: <br />Tax Increment Financing 1-11 (413,005) <br />The City intends to fund these deficits through future land sale proceeds and tax increment collections. <br />B. EXPENDITURES IN EXCESS OF BUDGET <br />The following is a listing of departments within the General Fund that exceeded budget appropriations: <br />General government: <br />Engineering/planning <br />Final <br />Budget Actual Overage <br />$109,760 $114,139 $4,379 <br />75 <br />