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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2024
<br />Business -Type Activities - Enterprise Funds
<br />601 Water
<br />602 Sewer
<br />603 Storm Water
<br />Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents
<br />$5,442,633
<br />$7,633,589
<br />$415,847
<br />$13,492,069
<br />Due from other governments
<br />2,645
<br />2,842
<br />-
<br />5,487
<br />Accounts receivable - net
<br />321,218
<br />305,320
<br />69,007
<br />695,545
<br />Prepaid items
<br />30,008
<br />147,246
<br />6,123
<br />183,377
<br />Inventory
<br />85,378
<br />-
<br />-
<br />85,378
<br />Total current assets
<br />5,881,882
<br />8,088,997
<br />490,977
<br />14,461,856
<br />Noncurrent assets:
<br />Interfund loan receivable
<br />-
<br />2,368,218
<br />-
<br />2,368,218
<br />Capital assets:
<br />Land
<br />374,867
<br />-
<br />-
<br />374,867
<br />Construction in progress
<br />6,666,699
<br />248,600
<br />-
<br />6,915,299
<br />Equipment
<br />307,264
<br />570,307
<br />-
<br />877,571
<br />Water and sewer systems
<br />40,815,980
<br />34,779,412
<br />-
<br />75,595,392
<br />Total capital assets
<br />48,164,810
<br />35,598,319
<br />-
<br />83,763,129
<br />Less: Allowance for depreciation
<br />(13,567,431)
<br />(13,409,904)
<br />-
<br />(26,977,335)
<br />Net capital assets
<br />34,597,379
<br />22,188,415
<br />-
<br />56,785,794
<br />Total noncurrent assets
<br />34,597,379
<br />24,556,633
<br />-
<br />59,154,012
<br />Total assets
<br />40,479,261
<br />32,645,630
<br />490,977
<br />73,615,868
<br />Deferred outflows of resources related to pensions
<br />54,483
<br />54,696
<br />13,077
<br />122,256
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable
<br />146,794
<br />87,640
<br />9,655
<br />244,089
<br />Salaries payable
<br />15,718
<br />15,716
<br />7,747
<br />39,181
<br />Due to other governments
<br />14,556
<br />221
<br />-
<br />14,777
<br />Deposits payable
<br />4,600
<br />-
<br />-
<br />4,600
<br />Accrued interest payable
<br />3,092
<br />-
<br />-
<br />3,092
<br />Compensated absences payable - current portion
<br />33,495
<br />33,495
<br />13,248
<br />80,238
<br />Long-term debt - current portion
<br />349,190
<br />-
<br />-
<br />349,190
<br />Total current liabilities
<br />567,445
<br />137,072
<br />30,650
<br />735,167
<br />Noncurrent liabilities:
<br />Compensated absences payable
<br />19,672
<br />19,672
<br />7,780
<br />47,124
<br />Other post employment benefits
<br />39,697
<br />39,697
<br />24,306
<br />103,700
<br />Long-term debt
<br />867,095
<br />-
<br />-
<br />867,095
<br />Net pension liability
<br />130,080
<br />132,430
<br />44,697
<br />307,207
<br />Total noncurrent liabilities
<br />1,056,544
<br />191,799
<br />76,783
<br />1,325,126
<br />Total liabilities
<br />1,623,989
<br />328,871
<br />107,433
<br />2,060,293
<br />Deferred inflows of resources related to pensions
<br />101,069
<br />101,251
<br />33,237
<br />235,557
<br />Net position:
<br />Net investment in capital assets
<br />31,010,170
<br />22,188,415
<br />-
<br />53,198,585
<br />Unrestricted
<br />7,798,516
<br />10,081,789
<br />363,384
<br />18,243,689
<br />Total net position
<br />$38,808,686
<br />$32,270,204
<br />$363,384
<br />$71,442,274
<br />The accompanying notes are an integral part of these financial statements.
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