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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1994
<br />Note 3 FIXED ASSETS
<br />A summary of changes in general fixed assets is as follows:
<br />Lard
<br />Buildings and structures
<br />Wells
<br />Furniture and equipment
<br />Totals
<br />Balance Balance
<br />1/1/94 Additions Deletions 12/31/94
<br />$310,010 $ - $ - $310,010
<br />636,823 52,797 689,620
<br />6,216 - - 6,216
<br />1,677,500 112,263 - 1,789,763
<br />$2,630,549 $165,060 $0 $2,795,609
<br />A summary of Proprietary Fund fixed assets at December 31, 1994 is as follows:
<br />Sewer
<br />Gas
<br />Water Utility Total
<br />Buildings and structures $ - 848,690 $ - $48,690
<br />Machinery and equipment 23,884 25,271 49,155
<br />Water and sewer lines 8,110,130 5,962,451 - 14,072,581
<br />Acquisition costs - gas utility - - 2,375 2,375
<br />Total 8,134,014 6,036,412 2,375 14,172,801
<br />Less: Accumulated depreciation (697,325) (517,064) (1,214,389)
<br />Net Fixed Assets
<br />Note 4 CITY INDEBTEDNESS
<br />$7,436,689 $5,519,348 $2,375 $12,958,412
<br />The following is a schedule of changes in City indebtedness for the year ended December 31, 1994.
<br />General Long Term Debt Account Group:
<br />Bonded debt
<br />General obligation
<br />Special assessment
<br />Assessment payable
<br />Compensated absences payable
<br />Capital lease payable
<br />Total general long term debt
<br />Proprietary Fund:
<br />Revenue bond
<br />Total
<br />28
<br />Balance Balance
<br />1/1/94 Additions Deletions 12/31/94
<br />$1,526,000
<br />8,405,000
<br />10,510
<br />30,188
<br />2.421
<br />$150,000 $282,500 $1,393,500
<br />2,095,000 4,565,000 5,935,000
<br />10,510
<br />59,371 89,559
<br />2,421 -
<br />9,974,119 2,304,371 4,849,921 7,428,569
<br />1.060.000 25,000 1,035,000
<br />$11,034,119 $2,304,371 $4,874,921 $8,463,569
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