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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1997
<br />SUMMARY
<br />A summary of all prior period adjustments is as follows:
<br />1996
<br />Amounts Prior Period Adjustments 1996
<br />Previously Connection Sewer Use Assessment Depreciation Amounts
<br />Reported Charges Charges Charges Correction Restated
<br />Capital Project Fund:
<br />Area and Unit Charge Fund:
<br />Fund balance - January 1 $5,945,209 ($397,152) $ - ($6,419) $ - $5,541,638
<br />Net increase in fund balance 1,951,198 (52,910) - 1,898,288
<br />Fund balance - December 31 6,037,474 (450,062) (6,419) 5,580,993
<br />Total liabilities - December 31 2,301,914 397,152 6,419 2,705,485
<br />Enterprise Funds:
<br />Water Fund:
<br />Retained earnings - January 1 474,508 (19,157) 455,351
<br />Retained earnings - December 31 533,541 (19,157) 514,384
<br />Total assets - December 31 11,567,716 (19,157) 11,548,559
<br />Sewer Fund:
<br />Retained earnings - January 1 311,806 51,594 (376) 363,024
<br />Net income (loss) (47,622) 22,957 - (24,665)
<br />Retained earnings - December 31 448,205 74,551 (376) 522,380
<br />Total assets - December 31 9,211,204 74,551 (376) 9,285,379
<br />Immo
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