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Management’s Discussion and Analysis
<br />
<br />
<br />The City’s net position increased by $5,380,524 during 2023. Key elements of this increase
<br />are as follows:
<br />
<br />City of Lino Lakes’ Changes in Net Position
<br />
<br />2023 2022 2023 2022 2023 2022
<br />Revenues:
<br />Program revenues:
<br /> Charges for services $4,468,912 $4,937,133 $4,955,645 $4,283,680 $9,424,557 $9,220,813
<br /> Operating grants and contributions 1,866,131 1,119,449 59,032 - 1,925,163 1,119,449
<br /> Capital grants and contributions 2,996,602 2,800,604 8,545 5,268,556 3,005,147 8,069,160
<br />General revenues:
<br /> General property taxes 12,868,894 11,829,124 - - 12,868,894 11,829,124
<br /> Other taxes 217,779 - - - 217,779 -
<br /> Tax increment 903,027 793,264 - - 903,027 793,264
<br /> Grants and contributions not
<br /> restricted to specific programs 270,011 2,117,908 - - 270,011 2,117,908
<br /> Unrestricted investment earnings 1,554,657 (1,139,063) 728,010 (645,918) 2,282,667 (1,784,981)
<br /> Gain on disposal of capital assets 35,689 66,852 - - 35,689 66,852
<br />Total revenues 25,181,702 22,525,271 5,751,232 8,906,318 30,932,934 31,431,589
<br />Expenses:
<br />General government 3,041,049 3,117,688 - - 3,041,049 3,117,688
<br />Public safety 7,130,294 6,512,493 - - 7,130,294 6,512,493
<br />Public works 5,604,543 6,377,440 - - 5,604,543 6,377,440
<br />Culture and recreation 3,350,309 4,029,146 - - 3,350,309 4,029,146
<br />Conservation of natural resources 257,150 235,376 - - 257,150 235,376
<br />Community development 531,413 884,336 - - 531,413 884,336
<br />Interest and fees on long-term debt 497,903 562,248 - - 497,903 562,248
<br />Water - - 2,027,102 3,019,350 2,027,102 3,019,350
<br />Sewer - - 2,535,243 2,347,539 2,535,243 2,347,539
<br />Storm water - - 577,404 251,478 577,404 251,478
<br /> Total expenses 20,412,661 21,718,727 5,139,749 5,618,367 25,552,410 27,337,094
<br />Increase in net position before transfers 4,769,041 806,544 611,483 3,287,951 5,380,524 4,094,495
<br />Transfers (516,310) (1,142,554) 516,310 1,142,554 - -
<br />Change in net position 4,252,731 (336,010) 1,127,793 4,430,505 5,380,524 4,094,495
<br />Net position - January 1, as previously
<br />reported 74,571,509 74,852,362 64,366,966 59,991,618 138,938,475 134,843,980
<br />Change in reporting entity - 55,157 - (55,157) - -
<br />Net position - January 1, as restated 74,571,509 74,907,519 64,366,966 59,936,461 138,938,475 134,843,980
<br />Net position - December 31 $78,824,240 $74,571,509 $65,494,759 $64,366,966 $144,318,999 $138,938,475
<br />Business-Type Activities TotalsGovernmental Activities
<br />
<br />
<br />Governmental Activities
<br />
<br />Governmental activities increased the City’s net position by $4,252,731 during 2023.
<br />General property taxes increased due to increased police and fire expenses, park and trail
<br />maintenance, employee wages and benefits, and economic inflationary impacts to supply and
<br />service expenditures. Grants and contributions not restricted to specific programs decreased
<br />from 2022 as a result of American Rescue Plan Act (ARPA) funds for culture and recreation
<br />expenses. Unrestricted investment earnings contributed to the increase in net position in 2023
<br />due to unrealized gains on investments with the stable interest rate environment.
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