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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br />Note 11 INTERFUND RECEIVABLES AND PAYABLES <br />Short-term advances to funds that have insufficient cash balances are classified as advances to/from other funds. <br />Long-term interfund loans are classified as interfund loan receivable/payable. A summary of interfund <br />receivables and payables at December 31, 2021 is as follows: <br />Short-term advances: <br />Nonmajor Funds: <br />The Rookery Activity Center <br />Closed Bond Fund <br />Tax Increment Financing 1-11 <br />Long-term interfund loans: <br />Major Funds: <br />G.O. Improvement Bonds of2016B <br />Sewer Fund <br />Nonmajor Funds: <br />Building and Facilities <br />Note 12 INTERFUND TRANSFERS <br />Individual fund transfers for fiscal year 2021 are as follows: <br />Major Funds: <br />General Fund <br />G.O. Improvement Note of 2009A <br />G.O. Improvement Bonds of2016B <br />Area and Unit Charge <br />MSA Construction <br />Pavement Management <br />Water Fund <br />Nonmajor governmental funds <br />Total <br />Receivable Payable <br />$ - $35,211 <br />457,303 - <br />- 422,092 <br />$457,303 $457,303 <br />$ - $2,470,082 <br />559,110 - <br />1,910,972 - <br />$2,470,082 $2,470,082 <br />Transfer hi Transfer Out <br />369,065 <br />65,330 <br />1,034,046 <br />1,771,600 <br />$951,113 <br />65,330 <br />1,264,474 <br />267,126 <br />322,933 <br />369,065 <br />$3,240,041 $3,240,041 <br />During 2021, transfers were made to provide funding for capital improvement projects and capital outlay in <br />accordance with the City's capital improvement plan. Transfers were also made to provide resources for debt <br />service payments and to allocate financial resources to funds that received benefit from services provided by <br />another fund. These transfers are routine and consistent with past practices. <br />76 <br />