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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2023
<br />601 Water 602 Sewer 603 Storm Water Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $5,224,858 $7,177,052 $306,940 $12,708,850
<br />Due from other governments 345 2,766 - 3,111
<br />Accounts receivable - net 319,567 310,017 76,451 706,035
<br />Prepaid items 27,078 144,226 9,149 180,453
<br />Inventory 79,767 - - 79,767
<br /> Total current assets 5,651,615 7,634,061 392,540 13,678,216
<br />Noncurrent assets:
<br />Interfund loan receivable - 2,591,816 - 2,591,816
<br />Capital assets:
<br />Land 374,867 - - 374,867
<br />Construction in progress 2,770,565 1,269,992 - 4,040,557
<br />Equipment 212,855 674,979 - 887,834
<br />Water and sewer systems 37,778,471 32,345,779 - 70,124,250
<br />Total capital assets 41,136,758 34,290,750 - 75,427,508
<br />Less: Allowance for depreciation (12,652,231) (12,656,105) - (25,308,336)
<br /> Net capital assets 28,484,527 21,634,645 - 50,119,172
<br />Total noncurrent assets 28,484,527 24,226,461 - 52,710,988
<br /> Total assets 34,136,142 31,860,522 392,540 66,389,204
<br />Deferred outflows of resources related to pensions 90,980 91,193 32,007 214,180
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 143,930 65,676 7,439 217,045
<br />Salaries payable 10,786 10,784 5,983 27,553
<br />Due to other governments 3,703 3,428 - 7,131
<br />Retainage payable - - 15,165 15,165
<br />Deposits payable 4,600 - - 4,600
<br />Other accrued liabilities 14,214 - - 14,214
<br />Compensated absences payable - current portion 21,578 21,578 19,293 62,449
<br />Total current liabilities 198,811 101,466 47,880 348,157
<br />Noncurrent liabilities:
<br />Compensated absences payable - noncurrent portion 5,736 5,736 5,128 16,600
<br />Other post employment benefits - noncurrent portion 34,168 34,168 23,661 91,997
<br />Net pension liability 196,535 198,885 79,166 474,586
<br />Total noncurrent liabilities 236,439 238,789 107,955 583,183
<br /> Total liabilities 435,250 340,255 155,835 931,340
<br />Deferred inflows of resources related to pensions 77,933 78,115 21,237 177,285
<br />Net position:
<br />Investment in capital assets 28,484,527 21,634,645 - 50,119,172
<br />Unrestricted 5,229,412 9,898,700 247,475 15,375,587
<br /> Total net position $33,713,939 $31,533,345 $247,475 $65,494,759
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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