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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2017
<br />601 Water 602 Sewer Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $5,477,346 $8,444,352 $13,921,698
<br />Due from other governmental units - 1,614 1,614
<br />Accounts receivable - net 157,008 219,949 376,957
<br />Prepaid items 9,255 17,827 27,082
<br />Inventory 30,368 - 30,368
<br />Interfund loan receivable - 914,949 914,949
<br /> Total current assets 5,673,977 9,598,691 15,272,668
<br />Noncurrent assets:
<br />Capital assets:
<br />Construction in progress 772,676 734,477 1,507,153
<br />Equipment 143,429 331,225 474,654
<br />Water and sewer systems 24,949,194 23,048,571 47,997,765
<br />Total capital assets 25,865,299 24,114,273 49,979,572
<br />Less: Allowance for depreciation (8,698,982) (9,448,640) (18,147,622)
<br /> Net capital assets 17,166,317 14,665,633 31,831,950
<br /> Total assets 22,840,294 24,264,324 47,104,618
<br />Deferred outflows of resources related to pensions 48,559 48,559 97,118
<br />Total assets and deferred outflows 22,888,853 24,312,883 47,201,736
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 8,256 7,054 15,310
<br />Salaries payable 3,917 3,917 7,834
<br />Due to other governments 11,683 2,769 14,452
<br />Other accrued liabilities 3,289 2,568 5,857
<br />Compensated absences payable - current portion 19,065 19,065 38,130
<br />Total current liabilities 46,210 35,373 81,583
<br />Noncurrent liabilities:
<br />Compensated absences payable - noncurrent portion 14,213 14,213 28,426
<br />Other post employment benefits 4,240 4,240 8,480
<br />Net pension liability 169,149 169,149 338,298
<br />Total noncurrent liabilities 187,602 187,602 375,204
<br /> Total liabilities 233,812 222,975 456,787
<br />Deferred inflows of resources related to pensions 33,477 33,477 66,954
<br />Total liabilities and deferred inflows 267,289 256,452 523,741
<br />Net position:
<br />Investment in capital assets 17,166,317 14,665,633 31,831,950
<br />Unrestricted 5,455,247 9,390,798 14,846,045
<br /> Total net position $22,621,564 $24,056,431 $46,677,995
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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