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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />December 31, 2004
<br />Statement 1
<br />Governmental Business -type
<br />Activities Activities Total
<br />ASSETS
<br />- Cash and investments $ 14,401,281 $ 4,427,859 $ 18,829,140
<br />Cash and investments with escrow agent 491,820 491,820
<br />Accrued interest receivable 91,433 - 91,433
<br />Accounts receivable 130,765 282,542 413,307
<br />Due from other governments 874,519 - 874,519
<br />Taxes receivable 174,954 174,954
<br />Special assessments receivable 4,517,774 169,952 4,687,726
<br />- Prepaid items 202,816 11,560 214,376
<br />Capital assets:
<br />Land 3,093,490 - 3,093,490
<br />Other capital assets, net of depreciation 43,002,478 29,418,498 72,420,976
<br />Total assets 66,981,330 34,310,411 101,291,741
<br />LIABILITIES
<br />- Accounts payable 539,033 37,658 576,691
<br />Salaries payable 92,728 4,988 97,716
<br />Retainage payable 113,710 113,710
<br />Accrued interest payable 306,662 59,786 366,448
<br />_
<br />Due to other governments 8,239 - 8,239
<br />Other accrued liabilities 3,311 4,238 7,549
<br />Non - current liabilities:
<br />- Due within one year 2,039,590 282,018 2,321,608
<br />Due in more than one year 15,776,202 2,463,350 18,239,552
<br />Total liabilities 18,879,475 2,852,038 21,731,513
<br />WINM
<br />Maga
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 28,807,262 26,713,498 55,520,760
<br />Restricted for:
<br />Debt service 3,045,052 3,045,052
<br />Unrestricted 16,249,541 4,744,875 20,994,416
<br />Total net assets $ 48,101,855 $ 31,458,373 $ 79,560,228
<br />The accompanying notes are an integral part of these basic financial statements.
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