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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2022
<br />601 Water 602 Sewer 603 Storm Water Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $4,859,504 $8,818,474 $286,079 $13,964,057
<br />Due from other governments - 2,391 - 2,391
<br />Accounts receivable - net 245,573 251,894 61,695 559,162
<br />Prepaid items 30,497 131,282 7,768 169,547
<br />Inventory 22,280 - - 22,280
<br /> Total current assets 5,157,854 9,204,041 355,542 14,717,437
<br />Noncurrent assets:
<br />Interfund loan receivable - 559,110 - 559,110
<br />Capital assets:
<br />Construction in progress 4,559,993 5,323,101 - 9,883,094
<br />Equipment 181,605 608,549 - 790,154
<br />Water and sewer systems 34,936,962 28,082,996 - 63,019,958
<br />Total capital assets 39,678,560 34,014,646 0 73,693,206
<br />Less: Allowance for depreciation (11,855,644) (12,044,999) - (23,900,643)
<br /> Net capital assets 27,822,916 21,969,647 0 49,792,563
<br /> Total assets 32,980,770 31,732,798 355,542 65,069,110
<br />Deferred outflows of resources related to pensions 88,653 88,866 31,095 208,614
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 73,031 26,532 6,809 106,372
<br />Salaries payable 10,860 10,860 6,214 27,934
<br />Due to other governments 534 870 - 1,404
<br />Retainage payable 10,691 25,680 - 36,371
<br />Other accrued liabilities 15,964 - - 15,964
<br />Compensated absences payable - current portion 19,614 19,614 20,081 59,309
<br />Total current liabilities 130,694 83,556 33,104 247,354
<br />Noncurrent liabilities:
<br />Compensated absences payable - noncurrent portion 2,931 2,931 3,001 8,863
<br />Other post employment benefits - noncurrent portion 22,955 22,955 2,458 48,368
<br />Net pension liability 229,824 232,174 92,213 554,211
<br />Total noncurrent liabilities 255,710 258,060 97,672 611,442
<br /> Total liabilities 386,404 341,616 130,776 858,796
<br />Deferred inflows of resources related to pensions 25,539 25,721 702 51,962
<br />Net position:
<br />Investment in capital assets 27,822,916 21,969,647 - 49,792,563
<br />Unrestricted 4,834,564 9,484,680 255,159 14,574,403
<br /> Total net position $32,657,480 $31,454,327 $255,159 $64,366,966
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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