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CITY OF LINO LAKES, MINNESOTA <br />ENTERPRISE FUND <br />WATER AND SEWER FUND <br />BALANCE SHEET <br />December 31, 1985 <br />Assets <br />Statement 16 <br />December 31, <br />1985 1984 <br />Current assets: <br />Cash (overdraft) $ (10,094) $ (15,353) <br />Accounts receivable 14,611 14,314 <br />Due from County 119 <br />Due from other governmental units 9,203 5,850 <br />Prepaid expenses 1,755 795 <br />Inventory 600 719 <br />Total current assets 16,075 6,444 <br />Property, plant and equipment: <br />Well 18,500 18,500 <br />Buildings 48,690 48,690 <br />Equipment 15,561 14,821 <br />Water and sewer system 973,802 955,502 <br />Total property, plant and equipment 1,056,553 1,037,513 <br />Less: Allowance for depreciation (189,090) (165,576) <br />Net fixed assets 867,463 871,937 <br />Total assets $ 883,538 $ 878,381 <br />Liabilities and Fund Equity <br />Liabilities: <br />Accounts payable $ 340 $ 678 <br />Salaries payable 62 <br />Due to other governments 706 40 <br />Customer deposits 3,325 2,660 <br />Total liabilities 4,433 3,378 <br />Fund equity: <br />Contributions - net <br />Retained earnings <br />Total fund equity <br />863,489 <br />15,616 <br />879,105 <br />Total liabilities and fund equity $ 883,538 <br />867,718 <br />7,285 <br />875,003 <br />$ 878,381 <br />The accompanying notes are an integral part of these financial statements. <br />