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CITY OF LINO LAKES, MINNESOTA
<br />ENTERPRISE FUNDS
<br />COMBINING BALANCE SHEET
<br />December 31, 1998
<br />With Comparative Totals For December 31, 1997
<br />Statement 15
<br />Assets
<br />Gas Totals
<br />Water Sewer Utility 1998 1997
<br />Current assets:
<br />Cash and cash equivalents $ 260,810 $ 447,856 $ $ 708,666 $ 900,497
<br />Accounts receivable 122,104 146,343 268,447 288,815
<br />Due from other governmental units - 100,738
<br />Special assessments receivable:
<br />Due from County 3,435 3,435 13,765
<br />Prepaid items 1,263 34,566 35,829 32,596
<br />Total current assets 387,612 628,765 1,016,377 1,336,411
<br />Long term assets:
<br />Special assessments, long term 295,537 295,537 316,782
<br />Fixed assets:
<br />Buildings 48,690 48,690 48,690
<br />Equipment 114,640 94,338 208,978 162.243
<br />Water and sewer system 11,934,589 12,296,089 24,230,678 17,473,617
<br />Construction in progress 3,367.050
<br />Total fixed assets 12,097,919 12,390,427 24,488,346 21,051,600
<br />Less: Allowance for depreciation (1,114,439) (1,437,967) (2,552,406) (2,177,538)
<br />Net fixed assets 10,983,480 10,952,460 21,935,940 18,874,062
<br />Acquisition costs - gas utility 2,375
<br />Total assets $11,666,629 $11,581,225 $ - $23,247,854 $20,529,630
<br />Liabilities and Fund Equity
<br />Current liabilities:
<br />Interfund payable $ - $ - $ $ - $ 17.241
<br />Accounts payable 7,464 14,433 21,897 35,536
<br />Salaries payable 2.744 2,622 5,366 4,058
<br />Contracts payable - 124,195
<br />Accrued interest payable 92,724 92,724 95,488
<br />Due to other governmental units 1,887 6,953 8,840 36,530
<br />Bonds payable - current portion 205,000 205,000 50,000
<br />Total current liabilities 309.819 24,008 333,827 363.048
<br />Long -term liabilities:
<br />Bonds payable - long term
<br />Compensated absences - payable
<br />Total liabilities
<br />Fund equity:
<br />Contributed capital
<br />Retained earnings
<br />Total fund equity
<br />96
<br />3,870,000
<br />8,448
<br />4,188,267
<br />3,770
<br />27,778
<br />7,298,120 10,891,944
<br />180,242 661,503
<br />7,478,362 11,553,447
<br />3,870,000
<br />12,218
<br />4,216,045
<br />18,190,064
<br />841,745
<br />19, 031, 809
<br />4,165,000
<br />9,219
<br />4,537.267
<br />14,499,775
<br />1,492,588
<br />15,992.363
<br />Total liabilities and fund equity $11,666,629 $11,581,225 $ $23,247,854 $20,529,630
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