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C1TY OF LINO LAKES, MINNESOTA
<br />ENTERPRISE FUNDS
<br />COMBINING BALANCE SHEET
<br />December 31, 1996
<br />With Comparative Totals For December 31, 1995
<br />Statement 14
<br />Assets
<br />Gas Totals
<br />Water Sewer Utility 1996 1995
<br />Current assets:
<br />Cash and cash equivalents $1,693,516 $302,528 $ - $1,996,044 $554,540
<br />Accounts receivable 90,357 146,177 236,534 253,559
<br />Due from other governmental units - - - 578
<br />Prepaid items 1,897 1,825 3,722 28,837
<br />Total current assets 1,785,770 450,530 0 2,236,300 837,514
<br />Fixed assets:
<br />Buildings 48,690 48,690 48,690
<br />Equipment 62,482 50,958 113,440 88,781
<br />Water and sewer system 7,702,000 9,771,617 17,473,617 15,900,081
<br />Construction in progress 2,755,152 - 2,755,152 -
<br />Total fixed assets 10,568,324 9,822,575 0 20,390,899 16,037,552
<br />Less: Allowance for depreciation (786,378) (1,061,901) (1,848,279) (1,518,864)
<br />Subtotal 9,781,946 8,760,674 0 18,542,620 14,518,688
<br />Acquisition costs - gas utility - 2,375 2,375 2,375
<br />Net fixed assets 9,781,946 8,760,674 2,375 18,544,995 14,521,063
<br />Total assets $11,567,716 $9,211,204 $2,375 $20,781,295 $15,358,577
<br />Liabilities and Fund Equity
<br />Current liabilities:
<br />Interfund payable $ - $ - $11,309 $11,309 $2,424
<br />Accounts payable 11,936 4,484 16,420 11,456
<br />Salaries payable 1,503 1,790 3,293 1,805
<br />Contracts payable 624,369 - 624,369 -
<br />Accrued interest payable 68,574 68,574 26,420
<br />Due to other governmental units 7,367 18,834 26,201 17,617
<br />Bonds payable - current portion 50,000 - 50,000 50,000
<br />Total current liabilities 763,749 25,108 11,309 800,166 109,722
<br />Long -term liabilities:
<br />Bonds payable - long term 4,215,000 4,215,000 945,000
<br />Compensated absences - payable 7,677 3,958 11,635 9,579
<br />Total liabilities 4,986,426 29,066 11,309 5,026,801 1,064,301
<br />Fund equity:
<br />Contributed capital 6,047,749 8,733,933 14,781,682 13,508,011
<br />Retained earnings (deficit) 533,541 448,205 (8,934) 972,812 786,265
<br />Total fund equity 6,581,290 9,182,138 (8,934) 15,754,494 14,294,276
<br />Total liabilities and fund equity $11,567,716 $9,211,204 $2,375 $20,781,295 $15,358,577
<br />84
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