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CITY OF LLNIO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS - PROPRIETARY FUNDS
<br />December 31, 2008
<br />Assets
<br />Current assets:
<br />Cash and cash equivalents
<br />Accounts receivable
<br />Due from other governmemal units
<br />Due from county - special assessments
<br />Prepaid items
<br />Total current assets
<br />Non-current assets:
<br />Special assessments, long term
<br />Unamortized bond issue costs
<br />Capital assets not being depreciated:
<br />Construction in progress
<br />Capital assets being depreciated:
<br />Buildings
<br />Equipment
<br />Water and sewer systems
<br />Total capital assets
<br />Less: allowance for depreciation
<br />Net capital assets
<br />Total noncurrent assets
<br />Total assets
<br />Liabilities
<br />Current liabilities:
<br />Accounts payable
<br />Salaries payable
<br />Accrued interest payable
<br />Bonds payable - current portion
<br />Compensated absences payable - current portion
<br />Total current liabilities
<br />Non - current liabilities:
<br />Bonds payable - long term
<br />Compensated absences payable - long term
<br />Total noncurrent liabilities
<br />Total liabilities
<br />Net assets
<br />Invested in capital assets, net of related debt
<br />Unrestricted
<br />Total net assets
<br />The accompanying notes are an integral port of these basic financial statements
<br />Water
<br />Sewer
<br />8 2,964,709 $ 5,609,938
<br />167,447 208,474
<br />515 -
<br />8,578 380
<br />9,47'7 63,803
<br />3.150.726 5,882,595
<br />93,265
<br />12,718
<br />13,054
<br />48,690 -
<br />122,811 313,644
<br />19.544,873 21,227,039
<br />19, 716,374 21,553,737
<br />(4326,222) (5,043,569)
<br />15,390,152 16,510,168
<br />15,496,135 16,510,168
<br />18,646,861 22,392,763
<br />25,705
<br />5,572
<br />22,867
<br />360,000
<br />13,698
<br />427,842
<br />1,167,650
<br />4,914
<br />1,I72,564
<br />1,600.406
<br />Total
<br />2008
<br />$ 8,574,647
<br />375,921
<br />515
<br />8,958
<br />73,280
<br />9,033,321
<br />93,265
<br />12,718
<br />13,054
<br />48,690
<br />436,455
<br />40,771,912
<br />41,270,111
<br />(9.369,7911
<br />31,900,320
<br />32.006,303
<br />41,039,624
<br />14,326 40,031
<br />4,832 10,404
<br />22,867
<br />360,000
<br />13,698 27,396
<br />32,856 460,698
<br />1,167,650
<br />4,914 9,828
<br />4,914 1,17 7,478
<br />37,770 1.638,176
<br />13,862,502 16,510,168
<br />3,I83,953 5,844,825
<br />c 17,046,455 $ 22,354,993
<br />30,372,670
<br />9,028,778
<br />$ 39,401,448
<br />
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