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CITY OF LINO LAKES, MINNESOTA
<br />ENTERPRISE FUNDS
<br />COMBINING BALANCE SHEET
<br />December 31, 1997
<br />With Comparative Totals For December 31, 1996
<br />Statement 15
<br />Assets
<br />Gas Totals
<br />Water Sewer Utility 1997 1996
<br />Current assets:
<br />Cash and cash equivalents $536,402 $364,095 $ $900,497 $1,996,044
<br />Accounts receivable 115,712 173,103 288,815 236,534
<br />Due from other governmental units - 100,738 100,738 74,551
<br />Special assessments current portion 13,434 331 13,765 -
<br />Prepaid items 1,422 31,174 32,596 3,722
<br />Total current assets 666,970 669,441 0 1,336,411 2,310,851
<br />Long term assets:
<br />Special assessments - long term 316,782 316,782
<br />Fixed assets:
<br />Buildings 48,690 48,690 48,690
<br />Equipment 97,098 65,145 162,243 113,440
<br />Water and sewer system 7,702,000 9,771,617 17,473,617 17,473,617
<br />Construction in progress 3,367,050 - 3,367,050 2,755,152
<br />Total fixed assets 11,214,838 9,836,762 0 21,051,600 20,390,899
<br />Less: Allowance for depreciation (944,828) (1,232,710) (2,177,538) (1,867,812)
<br />Subtotal 10,270,010 8,604,052 0 18,874,062 18,523,087
<br />Acquisition costs - gas utility - - 2,375 2,375 2,375
<br />Net fixed assets 10,270,010 8,604,052 2,375 18,876,437 18,525,462
<br />Total assets $11,253,762 $9,273,493 $2,375 $20,529,630 $20,836,313
<br />Liabilities and Fund Equity
<br />Current liabilities:
<br />Interfund payable $ - $ - $17,241 $17,241 $11,309
<br />Accounts payable 31,077 4,459 - 35,536 16,420
<br />Salaries payable 1,875 2,183 4,058 3,293
<br />Contracts payable 124,195 124,195 624,369
<br />Accrued interest payable 95,488 95,488 68,574
<br />Due to other governmental units 6,935 29,595 36,530 26,201
<br />Bonds payable - current portion 50,000 - 50,000 50,000
<br />Total current liabilities 309,570 36,237 17,241 363,048 800,166
<br />Long -term liabilities:
<br />Bonds payable - long term 4,165,000 4,165,000 4,215,000
<br />Compensated absences payable 5,973 3,246 9,219 11,635
<br />Total liabilities 4,480,543 39,483 17,241 4,537,267 5,026,801
<br />Fund equity:
<br />Contributed capital 5,935,664 8,564,111 14,499,775 14,781,682
<br />Retained earnings (deficit) 837,555 669,899 (14,866) 1,492,588 1,027,830
<br />Total fund equity 6,773,219 9,234,010 (14,866) 15,992,363 15,809,512
<br />Total liabilities and fund equity $11,253,762 $9,273,493 $2,375 $20,529,630 $20,836,313
<br />92
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