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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 1
<br />December 31, 2022
<br />Governmental Business-Type
<br />Activities Activities Total
<br />Assets:
<br />Cash and investments $37,173,308 $13,964,057 $51,137,365
<br />Accrued interest receivable 186,869 - 186,869
<br />Due from other governments 530,942 2,391 533,333
<br />Accounts receivable - net 39,536 559,162 598,698
<br />Prepaid items 570,234 169,547 739,781
<br />Internal balances (559,110) 559,110 -
<br />Inventory - 22,280 22,280
<br />Taxes receivable 263,730 - 263,730
<br />Special assessments receivable 4,729,752 - 4,729,752
<br />Leases receivable 1,924,147 - 1,924,147
<br />Net pension asset 446,637 - 446,637
<br />Capital assets - nondepreciable 14,359,974 9,883,094 24,243,068
<br />Capital assets - net of accumulated depreciation 48,911,871 39,909,469 88,821,340
<br />Total assets 108,577,890 65,069,110 173,647,000
<br />Deferred outflows of resources:
<br />Pension related 8,368,420 208,614 8,577,034
<br />OPEB related 81,606 - 81,606
<br />Total deferred outflows of resources 8,450,026 208,614 8,658,640
<br />Liabilities:
<br />Accounts payable and other current liabilities 1,636,343 188,045 1,824,388
<br />Deposits payable 2,549,399 - 2,549,399
<br />Accrued interest payable 236,179 - 236,179
<br />Unearned revenue 411,878 - 411,878
<br />Other post employment benefits:
<br />Due in more than one year 415,369 48,368 463,737
<br />Long-term liabilities:
<br />Due within one year 3,017,188 59,309 3,076,497
<br />Due in more than one year 18,205,751 8,863 18,214,614
<br />Net pension liability:
<br />Due in more than one year 13,135,812 554,211 13,690,023
<br />Total liabilities 39,607,919 858,796 40,466,715
<br />Deferred inflows of resources:
<br />Lease related 1,924,147 - 1,924,147
<br />Pension related 449,204 51,962 501,166
<br />OPEB related 475,137 - 475,137
<br />Total deferred inflows of resources 2,848,488 51,962 2,900,450
<br />Net position:
<br />Net investment in capital assets 43,292,333 49,792,563 93,084,896
<br />Restricted (nonexpendable) for environmental purposes 100,000 - 100,000
<br />Restricted (expendable) for:
<br />Debt service 6,917,573 - 6,917,573
<br />Park improvements 1,948,963 - 1,948,963
<br />Economic development 446,817 - 446,817
<br />Fire Department pension plan 550,093 - 550,093
<br />Other purposes 237,516 - 237,516
<br />Unrestricted 21,078,214 14,574,403 35,652,617
<br />Total net position $74,571,509 $64,366,966 $138,938,475
<br />Primary Government
<br />The accompanying notes are an integral part of these financial statements.
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