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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1992
<br />Page 16 of 19
<br />Note 10 SEGMENT INFORMATION
<br />The City maintains an Enterprise Fund which provides water and sanitary sewer services. Segment information
<br />for the year ended December 31, 1992 is as follows:
<br />Total
<br />Water Sewer Water Gas Total
<br />Utility Utility and Sewer Utility 1992 1991
<br />Operating revenue $222,336 $206,373 $428,709 $428,709 $264,057
<br />Depreciation expense 60,337 85,007 145,344 145,344 128,548
<br />Operating income (loss) 19,076 (77,647) (58,571) (58,571) (151,321)
<br />Property, plant
<br />and equipment additions 1,141,467 425,000 1,566,467 1,566,467 172,469
<br />Net income (loss) 3,820 3,820 (83,814)
<br />Area and unit charges 96,712 96,712 96,712 52320
<br />Operating transfer out (96,712) (96,712) (52,320)
<br />Net property, plant
<br />and equipment 7,379,247 $2,375 7,381,622 5,960,499
<br />Net working capital 161,153 (2,424) 158,729 (112,255)
<br />Total assets 7,659,257 2,375 7,661,632 6,083,796
<br />Bonds payable 1,060,000 1,060,000 1,060,000
<br />Total equity 6,480,400 (49) 6,480,351 5,848,244
<br />Note 11 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. As of December 31, 1992 the City has not issued Tax
<br />Increment bonds for any of its Tax Increment Districts. Within the Economic Development District
<br />are the following Tax Increment Financing 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 $139,196
<br />Original tax capacity 2,734
<br />Captured tax capacity $136,462
<br />Retained by authority $136,462
<br />Shared with other taxing districts 0
<br />Total $136,462
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