Comprehensive Annual Financial Report 12/31/2003

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OMNI Iwo CITY OF LINO LAKES, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2003 Note 12 DESIGNATIONS AND RESERVATIONS OF FUND EQUITY At December 31, 2003 and 2002, the City had designated and reserved portions of its various fund equities through legal restriction and City Council authorization. Major fund equity appropriations at December 31, 2003 and 2002 are shown on the various balance sheets as segregations of the fund equity. A summary of such designations is as follows: General Fund: Reserved for prepaid items Designated for cash flow reserve Special Revenue Fund: Reserved for prepaid items Designated for recreation purposes Debt Service Funds: Reserved for debt retirement Capital Projects Funds: Reserved for advance to other funds Reserved for land held for resale Designated for capital improvements Note 13 SHARE IN GAS FRANCHISE PROFITS December 31, 2003 2002 $ 133,921 4,775,969 1,759 32,704 1,719,181 989,506 2,104,428 $ 120,727 4,232,291 2,430 25,200 1,818,859 957,111 989,506 10,756,007 The City receives a share of the gross billing for natural gas sales by a neighboring City, which provides service within the City of Lino Lakes. The amount reported as revenue in the General Fund was $84,122 for 2003. Note 14 INTERFUND RECEIVABLE AND PAYABLES Individual fund receivable and payable balances at December 31, 2003 are as follows: General Fund: Capital Projects Funds: Municipal State Aid Area and Unit Charge 1997 Construction 1998 Construction Town Center Project Tax Increment Financing 1 -8 Tax Increment Financing 1 -10 Receivable 6,541,232 $ 6,541,232 Payable $ 70,124 347,764 1,376,889 2,662,115 2,070,826 12,430 1,084 $ 6,541,232