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Management’s Discussion and Analysis
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<br />Government-Wide Financial Analysis
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<br />As noted earlier, net position may serve over time as a useful indicator of a government's
<br />financial position. In the case of the City, assets and deferred outflows of resources exceeded
<br />liabilities and deferred inflows of resources by $138,938,475 at the close of the most recent
<br />fiscal year.
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<br />The largest portion of the City’s net position ($93,084,896, or 67%) reflects its net
<br />investment in capital assets (e.g. land, buildings, equipment, and infrastructure) less any
<br />related debt used to acquire those assets that is still outstanding. The City uses these capital
<br />assets to provide services to citizens; consequently, these assets are not available for future
<br />spending. Although the City’s investment in its capital assets is reported net of related debt,
<br />it should be noted that the resources needed to repay this debt must be provided from other
<br />sources, since the capital assets themselves cannot be used to liquidate these liabilities.
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<br />City of Lino Lakes’ Net Position
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<br />2022 2021 2022 2021 2022 2021
<br />Assets:
<br />Current and other assets $45,306,045 $50,146,418 $15,276,547 $16,979,300 $60,582,592 $67,125,718
<br />Capital assets 63,271,845 61,128,255 49,792,563 43,566,016 113,064,408 104,694,271
<br /> Total assets $108,577,890 $111,274,673 $65,069,110 $60,545,316 $173,647,000 $171,819,989
<br />Deferred outflows of resources $8,450,026 $4,538,110 $208,614 $177,865 $8,658,640 $4,715,975
<br />Liabilities:
<br />Long-term liabilities outstanding $31,756,932 $27,292,908 $611,442 $342,614 $32,368,374 $27,635,522
<br />Other liabilities 7,850,987 4,881,735 247,354 151,737 8,098,341 5,033,472
<br /> Total liabilities $39,607,919 $32,174,643 $858,796 $494,351 $40,466,715 $32,668,994
<br />Deferred inflows of resources $2,848,488 $8,785,778 $51,962 $237,212 $2,900,450 $9,022,990
<br />Net position:
<br />Net investment in capital assets $43,292,333 $38,987,698 $49,792,563 $43,566,016 $93,084,896 $82,553,714
<br />Restricted 10,200,962 13,889,250 - - 10,200,962 13,889,250
<br />Unrestricted 21,078,214 21,975,414 14,574,403 16,425,602 35,652,617 38,401,016
<br /> Total net position $74,571,509 $74,852,362 $64,366,966 $59,991,618 $138,938,475 $134,843,980
<br />Governmental Activities Business-Type Activities Totals
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<br />Of the City’s net position, $10,200,962 represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of unrestricted net position
<br />($35,652,617) may be used to meet ongoing obligations to citizens and creditors.
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<br />At the end of the current fiscal year, the City is able to report positive balances in all three
<br />categories of net position, both for the government as a whole, as well as for its separate
<br />governmental and business-type activities.
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