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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1998
<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 department 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 department 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 1990 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 />Balance
<br />_ 1/1/98
<br />$1,097,476
<br />1,746,068
<br />313,113
<br />486,175
<br />Land and improvements
<br />Buildings
<br />Equipment and furniture
<br />Other
<br />Vehicles
<br />Machinery/shop equipment
<br />Totals
<br />A summary of Proprietary Fund fixed assets
<br />MMINM
<br />Buildings and structures
<br />Machinery and equipment
<br />Water and sewer lines
<br />Total
<br />Less: Accumulated depreciation
<br />Net fixed assets
<br />Immo
<br />876,134
<br />512,643
<br />$5,028,609
<br />Balance
<br />Additions Deletions 12/31/98
<br />$ - $ - $1,097,476
<br />1,746,068
<br />60,324 17,834 355,603
<br />149,260 - 635,435
<br />124,647 44,900 952,881
<br />33,272 545,915
<br />$ 367,503 $ 62,734 $5,333,378
<br />at December 31, 1998 is as follows:
<br />Water Sewer
<br />$48,690 $
<br />114,640
<br />11,934,589
<br />12,097,919
<br />(1,114,439)
<br />94,338
<br />12,296,089
<br />12,390,427
<br />(1,437,967)
<br />$10,983,480 $10,952,460
<br />Total
<br />$48,690
<br />208,978
<br />24,230,678
<br />24,488,346
<br />(2,552,406)
<br />$21,935,940
<br />43
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