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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />December 31, 2008
<br />Governmental Business -type
<br />Activities Activities
<br />Total
<br />ASSETS
<br />Cash and investments $ 15,664,737 5 8,574,647 $ 24,239,384
<br />Cash and investments with escrow agent 88,504 - 88,504
<br />Accrued interest receivable 222 ,728 222,728
<br />Accounts receivable 142,952 375,921 518,873
<br />Due from other governments 216,166 515 216,681
<br />Taxes receivable 496,990 - 496,990
<br />Special assessments receivable 9,187,913 10',271 9,290,136
<br />Long -tern notes receivable 225,000 - 225,000
<br />Prepaid items 192,798 73,280 266,078
<br />Unamortized bond issue costs 214,680 12,718 227,398
<br />Permanently restricted cash and investments 100,000 - 100,000
<br />Capital asses:
<br />Land 2,809,059 2,809,059
<br />Construction in progress 2,762,525 13,054 2,775,579
<br />Other capital assets, net of depreciation 41,315,144 31,887,266 73,202,410
<br />Total assets 73,639,196 41,039,624 114,678,820
<br />LIABILITIES
<br />Accounts payable 427,097 40,031 467,128
<br />Salaries payable 192,086 10,404 202,490
<br />Contracts and retainage payable 167,730 - 167,730
<br />Accrued interest payable 41 1,370 22,867 434,237
<br />Due to other governments 25 25
<br />Non - cement liabilities:
<br />Due within one year 2,354,582 387 ,396 2,741,978
<br />Due in more than one year 20,952,406 1,177,478 22,129,884
<br />Total liabilities 24,505,296 1,638,176 26,I43,472
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 28,472,865 30,372,670 58,845,535
<br />Restricted for
<br />Debt service 9,770,676 9,770,676
<br />Environmental improvements - nonexpendable 100,000 - 1.00,Q00
<br />Unrestricted 10,790,359 9.028,778 19,819,137
<br />Total net assets 5 49,133,900 $ 39,401,448 $ 88,535,348
<br />The accompanying notes are art integral part of these basic financial statemenu.
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