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Imo
<br />Immo
<br />CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1998
<br />Note 9 SEGMENT INFORMATION
<br />The City actively maintains two Enterprise Funds which provide water and sanitary sewer services. The Gas
<br />Utility Fund has no activity in 1998 and was closed during 1998. Segment information for the year ended
<br />December 31, 1998 is as follows:
<br />Operating revenue
<br />Depreciation expense
<br />Operating income(loss)
<br />Property, plant and
<br />equipment additions
<br />Capital Contributions
<br />Net income (loss)
<br />Operating transfers in (out)
<br />Net property, plant
<br />and equipment
<br />Net working capital
<br />Total assets
<br />Bonds payable
<br />Total equity
<br />Water Sewer Gas Utility Totals
<br />Utility Utility Fund 1998 1997
<br />586,306 719,391 1,305,697 1,114,923
<br />169,611 205,257 374,868 365,976
<br />178,829 (137,881) 40,948 (22,779)
<br />883,082
<br />1,488,624
<br />(124,654)
<br />(90,000)
<br />10,983,480
<br />77,793
<br />11,666,629
<br />4,075,000
<br />7,478,362
<br />Note 10 DEFICIT FUND BALANCES
<br />2,553,665
<br />2,524,472
<br />(202,704)
<br />(90,000)
<br />10,952,460
<br />604,757
<br />11,581,225
<br />11,553,447
<br />The City has deficit fund balances at December 31, 1998 as follows:
<br />14,866
<br />17,241
<br />Fund Balance
<br />Deficit
<br />Capital Project Funds:
<br />MSA Construction 326,767
<br />1994 Construction 134,959
<br />1997 Construction 388,427
<br />Tax Increment Financing 1-6 34,053
<br />Tax Increment Financing 1 -7 470,592
<br />Tax Increment Financing 1 -8 4,951
<br />Tax Increment Financing 1 -9 6,630
<br />Tax Increment Financing 3 -1 357,679
<br />3,436,747
<br />4,013,096
<br />(312,492)
<br />(162,759)
<br />21,935,940
<br />682,550
<br />23,247,854
<br />4,075,000
<br />19,031,809
<br />660,701
<br />52,301
<br />130,550
<br />18,876,437
<br />973,363
<br />20,529,630
<br />4,215,000
<br />15,992,363
<br />The City intends to fund these deficits through future tax levies, tax increments, transfers from other funds,
<br />and various other sources.
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