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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1991
<br />Page 16 of 18
<br />It is the City's opinion that it has no liability for losses under the plan but does have the duty of due care that
<br />would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets
<br />to satisfy the claims of general creditors in the future.
<br />Included in the Trust and Agency Funds on the combined balance sheet is $213,215 of funds recorded at market
<br />value and primarily held by insurance companies in various investment pools for future payment of plan
<br />benefits.
<br />Note 11 SEGMENT INFORMATION
<br />The City maintains one Enterprise Fund which provide water and sanitary sewer services. Segment information
<br />for the year ended December 31, 1991 is as follows:
<br />Total
<br />Water Sewer Water Gas Total
<br />Utility Utility and Sewer Utility 1991 1990
<br />Operating revenue $157,975 $158,402 $316,377 $0 $316,377 $247,106
<br />Depreciation expense 53,189 75,359 128,548 0 128,548 73,251
<br />Operating income (loss) (1,282) (97,670) (98,952) (49) (99,001) (33,950)
<br />Property, plant
<br />and equipment additions 0 24,133 24,133 0 24,133
<br />Net (loss) 0 0 (83,765) (49) (83,814) (26,461)
<br />Operating transfer out 0 0 (52,320) 0 (52,320) (80,365)
<br />Net property, plant
<br />and equipment 0 0 5,958,124 2,375 5,960,499 5,916,580
<br />Net working capital 0 0 (109,831) (2,424) (112,255) 43,665
<br />Total assets 0 0 6,081,421 2,375 6,083,796 6,014,795
<br />Total equity 0 0 5,848,293 (49) 5,848,244 5,960,245
<br />Note 12 TAX INCREMENT DISTRICTS
<br />The City of Lino Lakes is the administrating authority for Economic Development District #1
<br />established under MS 273.71 in 1987. Within the Economic Development District are the following
<br />Tax Increment Financing Districts. As of December 31, 1991 the City has not issued Tax Increment
<br />bonds for any of it's Tax Increment Districts.
<br />Housing District #1 -1 was established under MS 273.73 subd. 11 in 1987. The duration of the district
<br />is 25 years.
<br />Current tax capacity $147,057
<br />Original tax capacity 2,275
<br />Captured tax capacity $144,782
<br />Retained by authority $144,782
<br />Shared with other taxing districts 0
<br />Total $144,782
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