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1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />r <br />1 <br />r <br />1 <br />CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2010 <br />Note 12 SHARE IN GAS FRANCHISE PROFITS <br />The City receives a share of the gross billing for natural gas sales by a neighboring City, which provides service <br />within the City of Lino Lakes. The amount reported as revenue in the General Fund during fiscal year 2010 was <br />$93,991. <br />Note 13 INTERFUND RECEIVABLE AND PAYABLES <br />The purpose of the interfund receivable and payable balances is for the elimination of negative cash between funds <br />and at December 31, 2010 are as follows: <br />Governmental Activity: <br />G.O. Improvement Bonds 2005A <br />135E Interchange <br />Other Nonmajor Governmental Funds <br />Business -Type Activity: <br />Sewer Fund <br />Receivable <br />s <br />1,376,681 <br />559,111 <br />Payable <br />$ 1,093,765 <br />76,250 <br />765,777 <br />$ 1,935,792 $ 1,935,792 <br />Interfund receivable and payable balances not expected to be repaid within one year are reported as advances to and <br />from other fund and at December 31, 2010 are as follows: <br />Governmental Activity: <br />Area and Unit Charge $ 658,875 $ <br />Other Nonmajor Governmental Funds - 658,875 <br />Receivable Payable <br />$ 658,875 $ 658,875 <br />The purpose of the advance from the Area and Unit Charge Fund is to temporarily finance projects in the Dedicated <br />Parks Fund. <br />Note 14 INTERFUND TRANSFERS <br />Individual fund transfers for fiscal year 2010 are as follows: <br />Transfer In Transfer Out <br />Governmental Activity: <br />General Fund $ - $ (612,699) <br />Area and Unit Charge - (79,581) <br />I35E Interchange (100,000) <br />Other Nonmajor Governmental Funds 1,195,747 (335,345) <br />Total Governmental Activity 1,195,747 (1,127,625) <br />Business -Type Activity: <br />Water Fund (34,061) <br />Sewer Fund (34,061) <br />Total Business -Type Activity (68,122) <br />Total $ 1,195,747 $ (1,195,747) <br />52 <br />