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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2022
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<br />Note 13 FUND BALANCE
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<br />At December 31, 2022, a summary of the governmental fund balance classifications is as follows:
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<br />G.O.G.O.Other
<br />General The Rookery Improvement Improvement Building and Area and MSA Governmental
<br />Fund Activity Center Note of 2009A Bonds of 2016B Facilities Unit Charge Construction Funds Total
<br />Nonspendable:
<br />Prepaid items $518,196 $50,538 $ - $ - $ - $ - $ - $1,500 $570,234
<br />Corpus of permanent fund - - - - - - - 100,000 100,000
<br />Total nonspendable518,19650,53800000101,500 670,234
<br />Restricted for:
<br />Debt service - - - - - - - 5,144,324 5,144,324
<br />Capital improvements - - - - - - - 471,122 471,122
<br />Park improvements - - - - - - - 1,948,963 1,948,963
<br />Economic development - - - - - - - 225,000 225,000
<br />Blue Heron Days - - - - - - - 15,248 15,248
<br />Narcotics & forfeiture funds - - - - - - - 174,431 174,431
<br />K-9 Unit purposes - - - - - - - 14,831 14,831
<br />Tax increment purposes - - - - - - - 221,817 221,817
<br />Environmental purposes - - - - - - - 33,006 33,006
<br />Total restricted 00000008,248,742 8,248,742
<br />Committed for:
<br />Future projects 58,600 - - - - - - - 58,600
<br />Economic development - - - - - - - 1,137 1,137
<br />Cable TV and
<br />communications purposes - - - - - - - 253,328 253,328
<br />Total committed 58,600000000254,465 313,065
<br />Assigned for:
<br />Capital improvements - - 1,353 - 2,717,074 9,059,894 3,819,453 3,894,437 19,492,211
<br />Unassigned 7,509,721 (314,293) - (2,339,303) - - - (35,179) 4,820,946
<br />Total fund balance $8,086,517 ($263,755) $1,353 ($2,339,303) $2,717,074 $9,059,894 $3,819,453 $12,463,965 $33,545,198
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<br />Note 14 TAX INCREMENT DISTRICTS
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<br />The City is the administrating authority for four tax increment districts. The City’s tax increment districts are
<br />subject to review by the State of Minnesota Office of the State Auditor (OSA). Any disallowed claims or misuse
<br />of tax increments could become a liability of the applicable fund. Management has indicated that they are not
<br />aware of any instances of noncompliance which could have a material effect on the financial statements.
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