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CITY OF LINO LAKES, MINNESOTA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />December 31, 2011
<br />GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />At the end of the current fiscal year, the City of Lino Lakes is able to report positive balances in all three
<br />categories of net assets, both for the government as a whole, as well as for its separate governmental
<br />and business -type activities.
<br />Governmental activities Governmental activities increased the City of Lino Lakes' net assets by
<br />$1,466,189. Reductions in community development activities, staffing levels, and interest payments on
<br />long -term debt were directly attributable to the increase in City's net assets. During the year, there was a
<br />significant increase in capital grants and contributions which was due mainly to special assessments
<br />relating to the 135E /CSAH 14 interchange project. Additionally, there was a significant increase in public
<br />service expenditures which was caused mainly by the City's contribution towards the joint powers
<br />agreement with Anoka County for the County's 135E /CSAH 14 interchange project. In addition, a prior
<br />period adjustment for unrecorded park land increased net assets by $466,800.
<br />Business -type activities Business -type activities increased the City of Lino Lakes' net assets by
<br />$41,141. Investment earnings provided directly for this increase.
<br />Condensed statements of revenues, expenses, and changes in net assets highlights are as follows for
<br />the years ended December 31, 2011 and 2010:
<br />Governmental Activities
<br />Business -Type Activities Total
<br />2011 2010 2011 2010 2011 2010
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services $ 1,420,465 $ 1,412,916 $ 2,584,292 $ 2,585,231 $ 4,004,757 $ 3,998,147
<br />Operating Grants and Contributions 593,798 617,450 593,798 617,450
<br />Capital Grants and Contributions 7,347,613 1,388,984 1,462 8,709 7,349,075 1,397,693
<br />General Revenues:
<br />Property Taxes 8,513,559 8,568,236 - - 8,513,559 8,568,236
<br />Franchise Taxes 149,118 150,924 - - 149,118 150,924
<br />Other Taxes 106,128 45,023 - - 106,128 45,023
<br />Contributions Not Restricted to
<br />Specific Programs 4,072 4,389 - - 4,072 4,389
<br />Unrestricted Investment Earnings 251,250 225,677 126,215 104,770 377,465 330,447
<br />Gain on Disposal of Capital Assets 37,579 - - - 37,579 -
<br />Total Revenues 18,423,582 12,413,599 2,711,969 2,698,710 21,135,551 15,112,309
<br />EXPENSES
<br />General Government 1,990,137 1,987,415 1,990,137 1,987,415
<br />Public Safety 4,019,101 3,971,261 4,019,101 3,971,261
<br />Public Service 8,110,979 3,968,063 - - 8,110,979 3,968,063
<br />Parks, Recreation and Forestry 1,218,472 1,124,907 - - 1,218,472 1,124,907
<br />Conservation of Natural Resources 139,544 197,571 - - 139,544 197,571
<br />Community Development 617,747 1,105,254 - - 617,747 1,105,254
<br />Interest on Long -Term Debt 927,535 1,064,172 - - 927,535 1,064,172
<br />Water 966,643 1,045,901 966,643 1,045,901
<br />Sewer 1,638,063 1,466,847 1,638, 063 1,466,847
<br />Total Expenses 17,023,515 13,418,643 2,604,706 2,512,748 19,628,221 15,931,391
<br />CHANGE IN NET ASSETS
<br />BEFORE TRANSFERS 1,400,067 (1,005,044) 107,263 185,962 1,507,330 (819,082)
<br />Transfers 66,122 (7,078) (66,122) 7,078 - -
<br />CHANGEINNETASSETS 1,466,189 (1,012,122) 41,141 193,040 1,507,330 (819,082)
<br />Net Assets - Beginning of Year 47,729,127 48,741,249 40,377,087 40,184,047 88,106,214 88,925,296
<br />Prior Period Adjustment 466,800 - - - 466,800
<br />Net Assets - Beginning of Year, As Restated 48,195,927 48,741,249 40,37/,087 40,184,047 88,573,014 88,925,296
<br />NET ASSETS - END OF YEAR $ 49,662,116 $ 47,729,127 $ 40,418,228 $ 40,377,087 $ 90,080,344 $ 88,106,214
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