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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />December 31, 2003
<br />Governmental Business -type
<br />Activities Activities
<br />Statement 1
<br />Total
<br />ASSETS
<br />Cash and investments $ 13,119,420 $ 3,400,721 $ 16,520,141
<br />Cash and investments with escrow agent 490,739 490,739
<br />Accrued interest receivable 70,309 - 70,309
<br />Accounts receivable 174,980 259,350 434,330
<br />Due from other governments 933,900 56,392 990,292
<br />Taxes receivable 556,298 - 556,298
<br />Special assessments receivable 4,008,576 182,503 4,191,079
<br />Prepaid items 169,233 10,797 180,030
<br />Land held for resale 989,506 989,506
<br />Capital assets:
<br />Land 3,113,490 3,113,490
<br />Other capital assets, net of depreciation 42,174,607 28,540,073 70,714,680
<br />Total assets 65,801,058 32,449,836 98,250,894
<br />LIABILITIES
<br />Accounts payable 571,624 50,090 621,714
<br />Salaries payable 210,170 12,698 222,868
<br />Retainage payable 149,243 - 149,243
<br />Accrued interest payable 337,004 65,017 402,021
<br />Due to other governments 3,797 - 3,797
<br />Other accrued liabilities 4,342 3,022 7,364
<br />Non - current liabilities:
<br />Due within one year 3,151,210 266,635 3,417,845
<br />Due in more than one year 16,142,982 2,736,055 18,879,037
<br />Total liabilities 20,570,372 3,133,517 23,703,889
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 25,993,905 25,537,383 51,531,288
<br />Restricted for:
<br />Debt service 3,568,555 3,568,555
<br />Unrestricted 15,668,226 3,778,936 19,447,162
<br />Total net assets $ 45,230,686 $ 29,316,319 $ 74,547,005
<br />The accompanying notes are an integral parr of these basic financ
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