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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2024 <br />Amounts reported as deferred outflows and inflows of resources related to OPEB will be recognized in <br />OPEB expense as follows: <br />Year Ended <br />December3l, <br />OPEB <br />Expense <br />2025 <br />($22,346) <br />2026 <br />(22,346) <br />2027 <br />(22,346) <br />2028 <br />(22,346) <br />2029 <br />(22,346) <br />Thereafter <br />40,062 <br />($71,668) <br />Note 10 STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY <br />A. DEFICIT FUND BALANCES <br />Deficit fund balances at December 31, 2024 are as follows: <br />Fund Balance <br />Deficit <br />Future Funding Source <br />Major Funds: <br />Capital Equipment Replacement <br />($281,116) <br />Property taxes <br />Nonmajor Funds: <br />Tax Increment Financing 1-11 <br />(1,296,370) <br />Taxincrement collections <br />Comp Plan Update <br />(98,524) <br />Transfer from General Fund <br />2024 Street Reconstruction <br />(218,947) <br />Bond proceeds <br />B. EXPENDITURES IN EXCESS OF BUDGET <br />The following is a listing of departments within the General Fund that exceeded budget appropriations: <br />Final <br />Budget <br />Actual Overage <br />General government: <br />Elections <br />$49,000 <br />$78,844 $29,844 <br />Finance <br />748,840 <br />846,203 97,363 <br />Legal consultants <br />138,000 <br />174,203 36,203 <br />Engineering <br />97,463 <br />101,244 3,781 <br />Public safety: <br />Fire <br />Public works: <br />Fleet <br />Conservation of natural resources: <br />Forestry <br />1,094,025 1,185,685 91,660 <br />704,061 770,543 66,482 <br />84,515 129,394 44,879 <br />80 <br />