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Management’s Discussion and Analysis
<br />
<br />
<br />
<br />Government-Wide Financial Analysis
<br />
<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 />
<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 />
<br />City of Lino Lakes’ Net Position
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<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 />
<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.
<br />
<br />2024 2023 2024 2023 2024 2023
<br />Assets:
<br />Current and other assets $49,440,507 $44,586,667 $16,200,074 $16,270,032 $65,640,581 $60,856,699
<br />Capital assets 66,877,583 66,000,296 57,415,794 50,119,172 124,293,377 116,119,468
<br /> Total assets 116,318,090 110,586,963 73,615,868 66,389,204 189,933,958 176,976,167
<br />Deferred outflows of resources 5,617,140 7,546,180 122,256 214,180 5,739,396 7,760,360
<br />Liabilities:
<br />Long-term liabilities outstanding 19,665,236 23,058,533 1,325,126 583,183 20,990,362 23,641,716
<br />Other liabilities 9,838,612 7,291,313 735,167 348,157 10,573,779 7,639,470
<br /> Total liabilities 29,503,848 30,349,846 2,060,293 931,340 31,564,141 31,281,186
<br />Deferred inflows of resources 8,624,053 8,959,057 235,557 177,285 8,859,610 9,136,342
<br />Net position:
<br />Net investment in capital assets 50,860,601 48,061,305 53,198,585 50,119,172 104,059,186 98,180,477
<br />Restricted 7,378,391 9,398,180 - - 7,378,391 9,398,180
<br />Unrestricted 25,568,337 21,364,755 18,243,689 15,375,587 43,812,026 36,740,342
<br /> Total net position $83,807,329 $78,824,240 $71,442,274 $65,494,759 $155,249,603 $144,318,999
<br />Governmental Activities Business-Type Activities Totals
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