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CITY OF LINO LAKES, MINNESOTA <br />ENTERPRISE FUND <br />WATER AND SEWER FUND <br />BALANCE SHEET <br />December 31, 1986 <br />Assets <br />Statement 16 <br />December 31, <br />1986 1985 <br />Current assets: <br />Cash (overdraft) $ (14,357) $ (10,094) <br />Accounts receivable 16,256 14,611 <br />Due from other governmental units 8,079 9,203 <br />Prepaid expenses 4,570 1,755 <br />Inventory 4,216 600 <br />Total current assets 18,764 16,075 <br />Property, plant and equipment: <br />Well 18,500 18,500 <br />Buildings 48,690 48,690 <br />Equipment 15,561 15,561 <br />Water and sewer system 973,802 973,802 <br />Total property, plant and equipment 1,056,553 1,056,553 <br />Less: Allowance for depreciation (212,604) (189,090) <br />Net fixed assets 843,949 867,463 <br />Total assets $ 862,713 $ 883,538 <br />Liabilities and Fund Equity <br />Liabilities: <br />Accounts payable $ 39 $ 340 <br />Salaries payable 138 62 <br />Due to other governments 703 706 <br />Customer deposits 3,325 <br />Total liabilities 880 4,433 <br />Fund equity: <br />Contributions - net <br />Retained earnings <br />Total fund equity <br />840,959 <br />20,874 <br />861,833 <br />863,489 <br />15,616 <br />879,105 <br />Total liabilities and fund equity $ 862,713 $ 883,538 <br />The accompanying notes are an integral part of these financial statements. <br />