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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2023 <br /> <br /> <br /> <br /> <br />Amounts reported as deferred outflows and inflows of resources related to OPEB will be recognized in OPEB expense as <br />follows: <br /> <br />Year Ended OPEB <br />December 31,Expense <br />2023 ($19,970) <br />2024 (19,970) <br />2025 (19,970) <br />2026 (19,970) <br />2027 (19,970) <br />Thereafter 28,409 <br />($71,441) <br /> <br /> <br />Note 10 STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY <br /> <br />A. DEFICIT FUND BALANCES <br /> <br />The City has deficit fund balances at December 31, 2023 as follows: <br /> <br />Fund Balance <br />Deficit <br />Major Funds: <br />The Rookery Activity Center ($5,067) <br />G.O. Improvement Bonds of 2016B (1,728,204) <br />Capital Equipment Replacement (960,579) <br />Nonmajor Funds: <br />2024 Street Reconstruction (43,667) <br /> <br />The City intends to fund these deficits through future property tax and tax increment collections and street reconstruction <br />bond proceeds. <br /> <br /> <br />B. EXPENDITURES IN EXCESS OF BUDGET <br /> <br />The following is a listing of departments within the General Fund that exceeded budget appropriations: <br /> <br />Final <br />Budget Actual Overage <br />General government: <br />Elections $14,750 $15,384 $634 <br />Engineering 96,354 103,120 6,766 <br />Public safety: <br />Fire 911,485 1,029,457 117,972 <br />Public works: <br />Fleet 775,180 778,513 3,333 <br />Conservation of natural resources: <br />Solid waste abatement 95,994 98,727 2,733 <br />Community development: <br />Community development 204,212 204,692 480 <br /> <br />76 <br />83