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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 7
<br />PROPRIETARY FUNDS
<br />December 31, 2024
<br />601 Water 602 Sewer 603 Storm Water Total
<br />Assets:
<br />Current assets:
<br />Cash and cash equivalents $5,442,633 $7,633,589 $415,847 $13,492,069
<br />Due from other governments 2,645 2,842 - 5,487
<br />Accounts receivable - net 321,218 305,320 69,007 695,545
<br />Prepaid items 30,008 147,246 6,123 183,377
<br />Inventory 85,378 - - 85,378
<br /> Total current assets 5,881,882 8,088,997 490,977 14,461,856
<br />Noncurrent assets:
<br />Interfund loan receivable - 2,368,218 - 2,368,218
<br />Capital assets:
<br />Land 374,867 - - 374,867
<br />Construction in progress 6,666,699 248,600 - 6,915,299
<br />Equipment 307,264 570,307 - 877,571
<br />Water and sewer systems 40,815,980 34,779,412 - 75,595,392
<br />Total capital assets 48,164,810 35,598,319 - 83,763,129
<br />Less: Allowance for depreciation (13,567,431) (13,409,904) - (26,977,335)
<br /> Net capital assets 34,597,379 22,188,415 - 56,785,794
<br />Total noncurrent assets 34,597,379 24,556,633 - 59,154,012
<br /> Total assets 40,479,261 32,645,630 490,977 73,615,868
<br />Deferred outflows of resources related to pensions 54,483 54,696 13,077 122,256
<br />Liabilities:
<br />Current liabilities:
<br />Accounts payable 146,794 87,640 9,655 244,089
<br />Salaries payable 15,718 15,716 7,747 39,181
<br />Due to other governments 14,556 221 - 14,777
<br />Deposits payable 4,600 - - 4,600
<br />Accrued interest payable 3,092 - - 3,092
<br />Compensated absences payable - current portion 33,495 33,495 13,248 80,238
<br />Long-term debt - current portion 349,190 - - 349,190
<br />Total current liabilities 567,445 137,072 30,650 735,167
<br />Noncurrent liabilities:
<br />Compensated absences payable 19,672 19,672 7,780 47,124
<br />Other post employment benefits 39,697 39,697 24,306 103,700
<br />Long-term debt 867,095 - - 867,095
<br />Net pension liability 130,080 132,430 44,697 307,207
<br />Total noncurrent liabilities 1,056,544 191,799 76,783 1,325,126
<br /> Total liabilities 1,623,989 328,871 107,433 2,060,293
<br />Deferred inflows of resources related to pensions 101,069 101,251 33,237 235,557
<br />Net position:
<br />Net investment in capital assets 31,010,170 22,188,415 - 53,198,585
<br />Unrestricted 7,798,516 10,081,789 363,384 18,243,689
<br /> Total net position $38,808,686 $32,270,204 $363,384 $71,442,274
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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<br />Page 79 of 353
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