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CITY OF LINO LAKES, MINNESOTA <br />RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL <br />FUNDS TO THE STATEMENT OF NET POSITION <br />December 31, 2024 <br />Statement 4 <br />Fund balance - total governmental funds (Statement 3) $36,850,557 <br />Net position reported for governmental activities in the Statement of Net Position is <br />different because: <br />Certain assets used in governmental activities are not current financial resources and, <br />therefore, are not reported in the funds. <br />Capital assets 66,877,583 <br />Net pension asset 695,585 <br />Other long-term assets are not available to pay for current -period expenditures and <br />therefore, are reported as unavailable revenue in the funds: <br />Delinquent taxes receivable 109,829 <br />Delinquent special assessments receivable 10,712 <br />Deferred special assessments receivable 2,970,896 <br />Long-term liabilities are not due and payable in the current period and, therefore, are not <br />reported in the funds. Long-term liabilities at year end consist of: <br />Bonds and notes payable <br />(15,070,000) <br />Unamortized bond premiums <br />(657,458) <br />Unamortized bond discounts <br />1,234 <br />Accrued interest payable <br />(178,231) <br />Compensated absences payable <br />(1,178,755) <br />Other post employment benefits <br />(737,331) <br />Net pension liability <br />(4,463,956) <br />Deferred outflows and inflows of resources related to pensions and OPEB are associated <br />with long-term liabilities that are not due and payable in the current period, and therefore, <br />are not reported in the funds. Balances at year end are: <br />Deferred outflows of resources related to pensions <br />5,319,229 <br />Deferred outflows of resources related to OPEB <br />297,911 <br />Deferred inflows of resources related to pensions <br />(6,670,897) <br />Deferred inflows of resources related to OPEB <br />(369,579) <br />Net position of governmental activities (Statement 1) $83,807,329 <br />The accompanying notes are an integral part of these financial statements. <br />39 <br />