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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2021
<br />Note 13 FUND BALANCE
<br />At December 31, 2021, a summary of the governmental fund balance classifications is as follows:
<br />Nonspendable:
<br />Prepaid items
<br />Corpus of permanent fund
<br />Total nonspendable
<br />Restricted for:
<br />Debt service
<br />Capital improvements
<br />Blue Heron Days
<br />Narcotics & forfeiture funds
<br />K-9 Unit purposes
<br />Tax increment purposes
<br />Environmental purposes
<br />Total restricted
<br />Committed for:
<br />Future projects
<br />Fire turnout gear
<br />Economic development
<br />Cable TV and
<br />communications purposes
<br />Recreation purposes
<br />Total committed
<br />Assigned for:
<br />Capital improvements
<br />Unassigned
<br />Total fund balance
<br />G.O. G.O. Other
<br />General Improvement Improvement Area and MSA Pavement Governmental
<br />Fund Note of 2009A Bonds of 2016B Unit Charge Construction Management Funds Total
<br />$356,619 $ $ $ $ $ $108,573 $465,192
<br />- 100,000 100,000
<br />356,619 0 0 0 0 0 208,573 565,192
<br />141 - 5,239,863 5,240,004
<br />586,675 1,778,971 2,365,646
<br />- 12,071 12,071
<br />188,541 188,541
<br />16,232 16,232
<br />580,723 580,723
<br />34,189 34,189
<br />0 141 0 0 0 586,675 7,850,590 8,437,406
<br />55,566 55,566
<br />15,804 - 15,804
<br />- 236,839 236,839
<br />270,160 270,160
<br />24,132 24,132
<br />71,370 0 0 0 0 0 531,131 602,501
<br />9,659,930 3,134,847 385,973 6,353,034 19,533,784
<br />7,719,761 - (2,470,082) (461,236) 4,788,443
<br />$8,147,750 $141 ($2,470,082) $9,659,930 $3,134,847 $972,648 $14,482,092 $33,927,326
<br />Note 14 PROPERTY UNDER LEASE AGREEMENT
<br />The City entered into an agreement to lease space within its City Hall Complex, which at year end had a cost of
<br />$4,744,742 and a net book value of $1,172,535, to New Creations Child Care and Learning Center, LLC. The lease
<br />expires June 30, 2029, although the City has the option to terminate the lease with no less than 12 months' notice any
<br />time after the 611 month of the lease. Approximate future minimum lease payments receivable under the operating
<br />lease are as follows:
<br />Year Ending
<br />December 31,
<br />2022
<br />2023
<br />2024
<br />2025
<br />2026
<br />Thereafter
<br />Amount
<br />$90,462
<br />93,196
<br />95,977
<br />98,853
<br />101,822
<br />267,755
<br />$748,065
<br />77
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