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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2022 <br /> <br /> <br /> <br /> <br />Amounts reported as deferred outflows and inflows of resources related to OPEB will be recognized in <br />OPEB expense as follows: <br /> <br />Year Ended OPEB <br />December 31,Expense <br />2023 ($51,640) <br />2024 (51,640) <br />2025 (51,640) <br />2026 (51,640) <br />2027 (51,640) <br />Thereafter (135,331) <br />($393,531) <br /> <br />Note 10 STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY <br /> <br />A. DEFICIT FUND BALANCES <br /> <br />The City has deficit fund balances at December 31, 2022 as follows: <br /> <br />Fund Balance <br />Deficit <br />Major Funds: <br />The Rookery Activity Center ($263,755) <br />G.O. Improvement Bonds of 2016B (2,339,303) <br />Nonmajor Funds: <br />Tax Increment Financing 1-11 (33,450) <br />Comp Plan Update (1,729) <br />The City intends to fund these deficits through transfers from other funds and tax increment collections. <br /> <br /> <br />B. EXPENDITURES IN EXCESS OF BUDGET <br /> <br />The following is a listing of departments within the General Fund that exceeded budget appropriations: <br /> <br />Final <br />Budget Actual Overage <br />General government: <br />Engineering $97,365 $99,888 $2,523 <br />Public safety: <br />Fire 845,499 848,628 3,129 <br />Public works: <br />Fleet 722,940 724,128 1,188 <br />Culture and recreation: <br />Parks 733,711 740,757 7,046 <br />Recreation 44,538 45,093 555 <br />Expenditures of the Rookery Activity Center special revenue fund exceeded budget appropriations by <br />$1,466,525. However, revenues exceeded the budget by $1,500,118. <br />79