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City of Lino Lakes, Minnesota
<br />Management's Discussion and Analysis
<br />December 31, 2006
<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 and
<br />business -type activities.
<br />Governmental activities. Governmental activities increased the City of Lino Lakes' net assets by
<br />$3,682,065, thereby accounting for 60 percent of the total growth in the net assets of the City of Lino
<br />Lakes. The most significant change in governmental net assets is due to the effect of accounting for net
<br />assets under the full accrual basis. Under full accrual accounting, current year outlay for infrastructure will
<br />be expensed over the useful life of the infrastructure. This capital outlay for the infrastructure is budgeted
<br />for during the current year.
<br />Business -type activities. Business -type activities increased the City of Lino Lakes' net assets by
<br />$2,451,319, thereby accounting for 40 percent of the total growth in the net assets of the City of Lino
<br />Lakes. Developers' contribution of infrastructure assets to the water and sewer funds accounted for a
<br />significant portion of that increase.
<br />Condensed statements of revenues, expenses, and changes in net assets highlights are as follows for the
<br />year ended December 31, 2006:
<br />Governmental Activities Business -Type Activities Total
<br />2006 2005 2006 2005 2006 2005
<br />1
<br />1
<br />1
<br />1
<br />1
<br />1
<br />REVENUES
<br />Program Revenues
<br />Charges for Services $ 1,570,002 $ 1,772,586 $ 2,566,874 $ 2,392,934 $ 4,136,876 $ 4,165,520
<br />Operating Grants and Contributions 643,749 761,924 - 643,749 761,924
<br />Capital Grants and Contributions 5,963,204 10,128,024 1,535,631 1,733,775 7,498,835 11,861,799
<br />General Revenues
<br />Property Taxes 8,128,684 7,247,977 8,128,684 7,247,977 III
<br />Franchise Taxes 140,408 134,487 140,408 134,487
<br />Other Taxes 852 951 - 852 951
<br />Unrestricted Investment Earnings 713,794 433,387 253,787 120,310 967,581 553,697
<br />Gain on Disposal of Capital Assets 33,217 - 33,217
<br />Contributions to Permanent Fund 100,000 100,000
<br />Other 60,955 60,955
<br />Total Revenues 17,193,910 20,640,291 4,356,292 4,247,019 21,550,202 24,887,310
<br />EXPENSES
<br />General Government 2,886,825 2,941,279 2,886,825 2,941,279
<br />Public Safety 3,516,376 3,091,174 3,516,376 3,091,174 I
<br />Public Service 3,871,968 9,187,436 3,871,968 9,187,436
<br />Parks, Recreation and Forestry 1,162,458 799,335 1,162,458 799,335
<br />Conservation of Natural Resources 156,592 150,092 156,592 150,092
<br />Community Development 691,880 383,211 691,880 383,211 I
<br />Interest on Long -Term Debt 926,021 797,341 - 926,021 797,341
<br />Water 976,575 876,592 976,575 876,592
<br />Sewer 1,228,123 1,217, 825 1,228,123 1,217,825
<br />Total Expenses 13,212,120 17,349,868 2,204,698 2,094,417 15,416,818 19,444,285
<br />CHANGE IN NET ASSETS
<br />BEFORE TRANSFERS 3,981,790 3,290,423 2,151,594 2,152,602 6,133,384 5,443,025
<br />Transfers (299,725) (304,195) 299,725 304,195 -
<br />CHANGE IN NET ASSETS 3,682,065 2,986,228 2,451,319 2,456,797 6,133,384 5,443,025
<br />Net Assets - Beginning of Year 51,088,083 48,101,855 33,915,170 31,458,373 85,003,253 79,560,228
<br />NET ASSETS - END OF YEAR $ 54,770,148 $ 51,088,083 $ 36,366,489 $ 33,915,1 fO $ 91,136,637 $ 85,003,253 I
<br />14
<br />1
<br />1
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