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Management’s Discussion and Analysis
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<br />
<br />Government-Wide Financial Analysis
<br />
<br />As noted earlier, net position may serve over time as a useful indicator of a government's
<br />financial position. In the case of the City, assets and deferred outflows of resources exceeded
<br />liabilities and deferred inflows of resources by $144,318,999 at the close of the most recent
<br />fiscal year.
<br />
<br />The largest portion of the City’s net position ($98,180,477 or 68%) reflects its net investment
<br />in capital assets (e.g. land, buildings, equipment, and infrastructure) less any related debt
<br />used to acquire those assets that is still outstanding. The City uses these capital assets to
<br />provide services to citizens; consequently, these assets are not available for future spending.
<br />Although the City’s investment in its capital assets is reported net of related debt, it should be
<br />noted that the resources needed to repay this debt must be provided from other sources, since
<br />the capital assets themselves cannot be used to liquidate these liabilities.
<br />
<br />City of Lino Lakes’ Net Position
<br />
<br />2023 2022 2023 2022 2023 2022
<br />Assets:
<br />Current and other assets $44,586,667 $45,306,045 $16,270,032 $15,276,547 $60,856,699 $60,582,592
<br />Capital assets 66,000,296 63,271,845 50,119,172 49,792,563 116,119,468 113,064,408
<br /> Total assets 110,586,963 108,577,890 66,389,204 65,069,110 176,976,167 173,647,000
<br />Deferred outflows of resources 7,546,180 8,450,026 214,180 208,614 7,760,360 8,658,640
<br />Liabilities:
<br />Long-term liabilities outstanding 23,058,533 31,756,932 583,183 611,442 23,641,716 32,368,374
<br />Other liabilities 7,291,313 7,850,987 348,157 247,354 7,639,470 8,098,341
<br /> Total liabilities 30,349,846 39,607,919 931,340 858,796 31,281,186 40,466,715
<br />Deferred inflows of resources 8,959,057 2,848,488 177,285 51,962 9,136,342 2,900,450
<br />Net position:
<br />Net investment in capital assets 48,061,305 43,292,333 50,119,172 49,792,563 98,180,477 93,084,896
<br />Restricted 9,398,180 10,200,962 - - 9,398,180 10,200,962
<br />Unrestricted 21,364,755 21,078,214 15,375,587 14,574,403 36,740,342 35,652,617
<br /> Total net position $78,824,240 $74,571,509 $65,494,759 $64,366,966 $144,318,999 $138,938,475
<br />Governmental Activities Business-Type Activities Totals
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<br />Of the City’s net position, $9,398,180 represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of unrestricted net position
<br />($36,740,342) may be used to meet ongoing obligations to citizens and creditors.
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<br />At the end of the current fiscal year, the City is able to report positive balances in all three
<br />categories of net position, both for the government as a whole, as well as for its separate
<br />governmental and business-type activities.
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