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CITY OF LINO LAKES, MINNESOTA
<br />ENTERPRISE FUNDS
<br />COMBINING BALANCE SHEET
<br />December 31, 2002
<br />With Comparative Totals For December 31, 2001
<br />Statement 15
<br />Assets
<br />Totals
<br />Water Sewer 2002 2001
<br />Current assets:
<br />Cash and cash equivalents $ 623,399 $ 1,835,227 $ 2,458,626 $ 1,896,445
<br />Accounts receivable 105,951 145,051 251,002 277,663
<br />Special assessments receivable:
<br />Due from county 1,223 1,223 2,446 8,981
<br />Prepaid items 4,867 5,914 10,781 9,676
<br />Total current assets 735,440 1,987,415 2,722,855 2,192,765
<br />Long term assets:
<br />Special assessments, long term 191,137 191,137 287,298
<br />Fixed assets:
<br />Buildings 48,690 48,690 48,690
<br />Equipment 122,821 169,675 292,496 287,550
<br />Water and sewer systems 14,639,340 16,455,893 31,095,233 30,967,788
<br />Total fixed assets 14,810,851 16,625,568 31,436,419 31,304,028
<br />Less: Allowance for depreciation (2,255,819) (2,699,845) (4,955,664) (4,309,703)
<br />Net fixed assets 12,555,032 13,925,723 26,480,755 26,994,325
<br />Total assets $ 13,481,609 $ 15,913,138 $ 29,394,747 $ 29,474,388
<br />Liabilities and Fund Equity
<br />Current liabilities:
<br />Accounts payable $ 41,589 $ 13,014 $ 54,603 $ 41,699
<br />Salaries payable 5,753 5,374 11,127 9,788
<br />Accrued interest payable 69,846 - 69,846 74,475
<br />Due to other governmental units 1,041 1,041 1,744
<br />Bonds payable - current portion 250,000 250,000 245,000
<br />Total current liabilities 368,229 18,388 386,617 372,706
<br />Long -term liabilities:
<br />Bonds payable - long term 2,970,000 - 2,970,000 3,220,000
<br />Compensated absences - payable 14,700 14,700 29,400 29,010
<br />Total liabilities 3,352,929 33,088 3,386,017 3,621,716
<br />Fund equity:
<br />Contributed capital 9,121,021 13,814,402 22,935,423 23,480,325
<br />Retained earnings
<br />Reserved for Equipment Replacement 455,416 597,743 1,053,159 474,423
<br />Unreserved 552,243 1,467,905 2,020,148 1,897,924
<br />Total fund equity 10,128,680 15,880,050 26,008,730 25,852,672
<br />Total liabilities and fund equity $ 13,481,609 $ 15,913,138 $ 29,394,747 $ 29,474,388
<br />67
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