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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2017 <br /> <br /> <br /> <br /> <br />Note 12 INTERFUND RECEIVABLES AND PAYABLES <br /> <br />Long-term interfund loans are classified as interfund loan receivable/payable. A summary of such loans at <br />December 31, 2017 is as follows: <br /> <br />Receivable Payable <br />Major Funds: <br />G.O. Improvement Bonds of 2016B $ - $2,876,643 <br />Area and Unit Charge 100,361 - <br />Sewer Fund 914,949 - <br />Nonmajor Funds: <br />Closed Bond Fund 616,983 - <br />Building and Facilities 2,317,533 - <br />Dedicated Parks - 100,361 <br />Tax Increment Financing 1-11 - 775,154 <br />2018 Street Reconstruction - 197,668 <br />$3,949,826 $3,949,826 <br /> <br />Note 13 INTERFUND TRANSFERS <br /> <br />Individual fund transfers for fiscal year 2017 are as follows: <br /> <br />Transfer In Transfer Out <br />Major Funds: <br />General Fund $439,373 $879,759 <br />G.O. Improvement Bonds of 2005A 2,187,503 7 <br />G.O. Improvement Note of 2009A 1,126,057 - <br />G.O. Improvement Bonds of 2016B 272,506 2,187,503 <br />Area and Unit Charge - 236,548 <br />Water Fund 104,969 35,727 <br />Sewer Fund 104,969 35,727 <br />Nonmajor governmental funds 2,959,004 3,819,110 <br />Total $7,194,381 $7,194,381 <br /> During 2017, transfers were made to provide funding for capital improvement projects and capital outlay in <br />accordance with the City’s capital improvement plan. Transfers were also made to provide resources for debt <br />service payments, to close capital project funds and debt service funds, and to allocate financial resources to <br />funds that received benefit from services provided by another fund. These transfers are routine and consistent <br />with past practices. <br /> <br /> <br />79