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CITY OF LINO LAKES, MINNESOTA
<br />ENTERPRISE FUNDS
<br />COMBINING BALANCE SHEET
<br />December 31, 2001
<br />With Comparative Totals For December 31, 2000
<br />Statement 15
<br />Assets
<br />Totals
<br />Water Sewer 2001 2000
<br />Current assets:
<br />Cash and cash equivalents $ 570,012 $ 1,326,433 $ 1,896,445 $ 1,278,630
<br />Cash and investments with escrow agent - - 650,367
<br />Accrued interest receivable - - 12,734
<br />Accounts receivable 131,829 145,834 277,663 206,892
<br />Special assessments receivable:
<br />Due from county 7,682 1,299 8,981 346
<br />Prepaid items 4,397 5,279 9,676 6,671
<br />Total current assets 713,920 1,478,845 2,192,765 2,155,640
<br />Long term assets:
<br />Special assessments, long term 287,298 287,298 298,990
<br />Fixed assets:
<br />Buildings 48,690 - 48,690 48,690
<br />Equipment 122,020 165,530 287,550 283,402
<br />Water and sewer systems 14,546,924 16,420,864 30,967,788 30,075,553
<br />Total fixed assets 14,717,634 16,586,394 31,304,028 30,407,645
<br />Less: Allowance for depreciation (1,954,956) (2,354,747) (4,309,703) (3,677,140)
<br />Net fixed assets 12,762,678 14,231,647 26,994,325 26,730,505
<br />Total assets
<br />Liabilities and Fund Equity
<br />$ 13,763,896 $ 15,710,492 $ 29,474,388 $ 29,185,135
<br />Current liabilities:
<br />Accounts payable $ 38,659 $ 3,040 $ 41,699 $ 95,505
<br />Salaries payable 4,894 4,894 9,788 8,398
<br />Accrued interest payable 74,475 - 74,475 97,276
<br />Due to other governmental units 1,744 1,744 1,217
<br />Bonds payable - current portion 245,000 245,000 875,000
<br />Total current liabilities 364,772 7,934 372,706 1,077,396
<br />Long -term liabilities:
<br />Bonds payable - long term 3,220,000 - 3,220,000 3,465,000
<br />Compensated absences - payable 14,505 14,505 29,010 29,838
<br />Total liabilities 3,599,277 22,439 3,621,716 4,572,234
<br />Fund equity:
<br />Contributed capital 9,337,506 14,142,819 23,480,325 23,117,561
<br />Retained earnings
<br />Reserved 221,780 252,643 474,423
<br />Unreserved 605,333 1,292,591 1,897,924 1,495,340
<br />Total fund equity 10,164,619 15,688,053 25,852,672 24,612,901
<br />Total liabilities and fund equity $ 13,763,896 $ 15,710,492 $ 29,474,388 $ 29,185,135
<br />67
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