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MIER
<br />MOW
<br />CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2002
<br />Note 2 DEPOSITS AND INVESTMENTS (CONTINUED)
<br />• The City's investments are categorized above to give an indication of the level of custodial credit risk
<br />assumed at year -end. Category 1 includes investments that are insured or registered or for which the
<br />securities are held by the City or its agent in the City's name. Category 2 includes uninsured or
<br />unregistered investments for which the securities are held by the counterparty's trust depaitnient or
<br />agent in the City's name. Category 3 includes uninsured and unregistered investments for which the
<br />securities are held by the counterparty or by its trust depaitment or agent but not in the City's name.
<br />Cash and investments with escrow agent consist of undisbursed proceeds of the Public Project Bonds
<br />of 1999C and the Lease Revenue Bonds of 1998 which are restricted for the payment of debt associated
<br />with the City's fire station and the payment for construction and capitalized interest costs of the Civic
<br />Complex, respectively.
<br />Note 3 FIXED ASSETS
<br />A summary of changes in general fixed assets is as follows:
<br />Land and Improvements
<br />Buildings
<br />Equipment and Furniture
<br />Other
<br />Vehicles
<br />Machinery/Shop Equipment
<br />Balance Balance
<br />1/1/02 12/31/02
<br />$ 3,106,089 $ 7,400 $ 3,113,489
<br />6,446,405 24,525 6,470,930
<br />1,046,189 117,170 1,153,205
<br />720,879 249,814 970,693
<br />1,217,214 153,708 1,272,159
<br />577,136 85,404 662,540
<br />$ 13,113,912 $ 638,021 $ 108,917 $ 13,643,016
<br />Additions Deletions
<br />A summary of Proprietary Fund fixed assets at December 31, 2002 is as follows:
<br />Building and Structures
<br />Machinery and Equipment
<br />Water and Sewer Lines
<br />Total
<br />Less: Accumulated Depreciation
<br />Net Fixed Assets
<br />Water
<br />10,154
<br />98,763
<br />Sewer Total
<br />$ 48,690 $
<br />122,821
<br />14,639,340
<br />14,810,851
<br />(2,255,819)
<br />$ 12,555,032
<br />169,675
<br />16,455,893
<br />16,625,568
<br />(2,699,845)
<br />13,925,723
<br />$ 48,690
<br />292,496
<br />31,095,233
<br />31,436,419
<br />(4,955,664)
<br />$ 26,480,755
<br />
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