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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 1
<br />December 31, 2023
<br />Governmental Business-Type
<br />Activities Activities Total
<br />Assets:
<br />Cash and investments $39,697,118 $12,708,850 $52,405,968
<br />Accrued interest receivable 224,587 - 224,587
<br />Due from other governments 228,815 3,111 231,926
<br />Accounts receivable - net 74,498 706,035 780,533
<br />Prepaid items 627,460 180,453 807,913
<br />Internal balances (2,591,816) 2,591,816 -
<br />Inventory - 79,767 79,767
<br />Taxes receivable 202,361 - 202,361
<br />Special assessments receivable 3,941,443 - 3,941,443
<br />Leases receivable 1,735,564 - 1,735,564
<br />Net pension asset 446,637 - 446,637
<br />Capital assets - nondepreciable 11,618,391 4,415,424 16,033,815
<br />Capital assets - net of accumulated depreciation 54,381,905 45,703,748 100,085,653
<br />Total assets 110,586,963 66,389,204 176,976,167
<br />Deferred outflows of resources:
<br />Pension related 7,205,362 214,180 7,419,542
<br />OPEB related 340,818 - 340,818
<br />Total deferred outflows of resources 7,546,180 214,180 7,760,360
<br />Liabilities:
<br />Accounts payable and other current liabilities 1,165,379 281,108 1,446,487
<br />Deposits payable 3,101,166 4,600 3,105,766
<br />Accrued interest payable 206,048 - 206,048
<br />Unearned revenue 108,092 - 108,092
<br />Other post employment benefits:
<br />Due in more than one year 710,066 91,997 802,063
<br />Long-term liabilities:
<br />Due within one year 2,710,628 62,449 2,773,077
<br />Due in more than one year 16,022,168 16,600 16,038,768
<br />Net pension liability:
<br />Due in more than one year 6,326,299 474,586 6,800,885
<br />Total liabilities 30,349,846 931,340 31,281,186
<br />Deferred inflows of resources:
<br />Lease related 1,735,564 - 1,735,564
<br />Pension related 6,811,234 177,285 6,988,519
<br />OPEB related 412,259 - 412,259
<br />Total deferred inflows of resources 8,959,057 177,285 9,136,342
<br />Net position:
<br />Net investment in capital assets 48,061,305 50,119,172 98,180,477
<br />Restricted (nonexpendable) for environmental purposes 100,000 - 100,000
<br />Restricted (expendable) for:
<br />Debt service 6,195,222 - 6,195,222
<br />Park improvements 1,338,954 - 1,338,954
<br />Public safety 771,539 - 771,539
<br />Economic development 501,780 - 501,780
<br />Fire Department pension plan 446,637 - 446,637
<br />Other purposes 44,048 - 44,048
<br />Unrestricted 21,364,755 15,375,587 36,740,342
<br />Total net position $78,824,240 $65,494,759 $144,318,999
<br />Primary Government
<br />The accompanying notes are an integral part of these financial statements.
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