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06-04-2018 Council Work Session Packet
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06-04-2018 Council Work Session Packet
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CITY OF LINO LAKES, MINNESOTA <br />RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL Statement 4 <br />FUNDS TO THE STATEMENT OF NET POSITION <br />December 31, 2017 <br />Fund balance - total governmental funds (Statement 3) $24,056,122 <br />Net position reported for governmental activities in the Statement of Net Position is <br />different because: <br />Certain assets used in governmental activities are not current financial resources and, <br />therefore, are not reported in the funds. <br />Capital assets 42,611,027 <br />Net pension asset 127,994 <br />Other long-term assets are not available to pay for current-period expenditures and <br />therefore, are reported as unavailable revenue in the funds: <br />Delinquent taxes receivable 69,647 <br />Delinquent special assessments receivable 18,280 <br />Deferred special assessments receivable 7,933,383 <br />Long-term liabilities are not due and payable in the current period and, therefore, are not <br />reported in the funds. Long-term liabilities at year end consist of: <br />Bonds and notes payable (19,852,725) <br />Unamortized bond premiums (142,182) <br />Unamortized bond discounts 18,664 <br />Accrued interest payable (157,528) <br />Compensated absences payable (768,908) <br />Other post employment benefits (738,061) <br />Net pension liability (5,774,457) <br />Deferred outflows and inflows of resources related to pensions and OPEB are associated <br />with long-term liabilities that are not due and payable in the current period, and therefore, <br />are not reported in the funds. Balances at year end are: <br />Deferred outflows of resources 5,625,220 <br />Deferred inflows of resources (6,410,858) <br />Net position of governmental activities (Statement 1)$46,615,618 <br />37
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