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Management's Discussion and Analysis
<br />Government -Wide Financial Analysis
<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 $155,249,603 at the close of the most recent fiscal
<br />year.
<br />The largest portion of the City's net position ($104,059,186 or 67%) reflects its net investment in
<br />capital assets (e.g. land, buildings, equipment, and infrastructure) less any related debt used to
<br />acquire those assets that is still outstanding. The City uses these capital assets to provide
<br />services to citizens; consequently, these assets are not available for future spending. Although
<br />the City's investment in its capital assets is reported net of related debt, it should be noted that
<br />the resources needed to repay this debt must be provided from other sources, since the capital
<br />assets themselves cannot be used to liquidate these liabilities.
<br />City of Lino Lakes' Net Position
<br />Governmental Activities
<br />Business -Type
<br />Activities
<br />Totals
<br />2024
<br />2023
<br />2024
<br />2023
<br />2024
<br />2023
<br />Assets:
<br />Current and other assets
<br />$49,440,507
<br />$44,586,667
<br />$16,200,074
<br />$16,270,032
<br />$65,640,581
<br />$60,856,699
<br />Capital assets
<br />66,877,583
<br />66,000,296
<br />57,415,794
<br />50,119,172
<br />124,293,377
<br />116,119,468
<br />Total assets
<br />116,318,090
<br />110,586,963
<br />73,615,868
<br />66,389,204
<br />189,933,958
<br />176,976,167
<br />Deferred outflows of resources
<br />5,617,140
<br />7,546,180
<br />122,256
<br />214,180
<br />5,739,396
<br />7,760,360
<br />Liabilities:
<br />Long-term liabilities outstanding
<br />19,665,236
<br />23,058,533
<br />1,325,126
<br />583,183
<br />20,990,362
<br />23,641,716
<br />Other liabilities
<br />9,838,612
<br />7,291,313
<br />735,167
<br />348,157
<br />10,573,779
<br />7,639,470
<br />Totalliabilities
<br />29,503,848
<br />30,349,846
<br />2,060,293
<br />931,340
<br />31,564,141
<br />31,281,186
<br />Deferred inflows of resources
<br />8,624,053
<br />8,959,057
<br />235,557
<br />177,285
<br />8,859,610
<br />9,136,342
<br />Net position
<br />Net investment in capital assets
<br />50,860,601
<br />48,061,305
<br />53,198,585 50,119,172 104,059,186
<br />98,180,477
<br />Restricted
<br />7,378,391
<br />9,398,180
<br />- - 7,378,391
<br />9,398,180
<br />Unrestricted
<br />25,568,337
<br />21,364,755
<br />18,243,689 15,375,587 43,812,026
<br />36,740,342
<br />Total net position
<br />$83,807,329
<br />$78,824,240
<br />$71,442,274 $65,494,759 $155,249,603
<br />$144,318,999
<br />Of the City's net position, $7,378,391 represents resources that are subject to external restrictions
<br />on how they may be used. The remaining balance of unrestricted net position ($43,812,026) may
<br />be used to meet ongoing obligations to citizens and creditors.
<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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