CITY OF LINO LAKES, MINNESOTA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />December 31, 2011
<br />GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />At the end of the current fiscal year, the City of Lino Lakes is able to report positive balances in all three
<br />categories of net assets, both for the government as a whole, as well as for its separate governmental
<br />and business -type activities.
<br />Governmental activities Governmental activities increased the City of Lino Lakes' net assets by
<br />$1,466,189. Reductions in community development activities, staffing levels, and interest payments on
<br />long -term debt were directly attributable to the increase in City's net assets. During the year, there was a
<br />significant increase in capital grants and contributions which was due mainly to special assessments
<br />relating to the 135E /CSAH 14 interchange project. Additionally, there was a significant increase in public
<br />service expenditures which was caused mainly by the City's contribution towards the joint powers
<br />agreement with Anoka County for the County's 135E /CSAH 14 interchange project. In addition, a prior
<br />period adjustment for unrecorded park land increased net assets by $466,800.
<br />Business -type activities Business -type activities increased the City of Lino Lakes' net assets by
<br />$41,141. Investment earnings provided directly for this increase.
<br />Condensed statements of revenues, expenses, and changes in net assets highlights are as follows for
<br />the years ended December 31, 2011 and 2010:
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services
<br />Operating Grants and Contributions
<br />Capital Grants and Contributions
<br />General Revenues:
<br />Property Taxes
<br />Franchise Taxes
<br />Other Taxes
<br />Contributions Not Restricted to
<br />Specific Programs
<br />Unrestricted Investment Earnings
<br />Gain on Disposal of Capital Assets
<br />Total Revenues
<br />EXPENSES
<br />General Government
<br />Public Safety
<br />Public Service
<br />Parks, Recreation and Forestry
<br />Conservation of Natural Resources
<br />Community Development
<br />Interest on Long -Term Debt
<br />Water
<br />Sewer
<br />Total Expenses
<br />CHANGE IN NET ASSETS
<br />BEFORE TRANSFERS
<br />Transfers
<br />CHANGE IN NET ASSETS
<br />Net Assets - Beginning of Year
<br />Prior Period Adjustment
<br />Net Assets - Beginning of Year, As Restated
<br />Governmental Activities
<br />Business -Type Activities Total
<br />2011 2010 2011
<br />$ 1,420,465 $
<br />593,798
<br />7,347,613
<br />8,513,559
<br />149,118
<br />106,128
<br />4,072
<br />251,250
<br />37,579
<br />2010 2011 2010
<br />1,412,916 $ 2,584,292 $ 2,585,231 $
<br />617,450 - -
<br />1,388,984 1,462 8,709
<br />8,568,236
<br />150,924
<br />45,023
<br />4,389
<br />225,677
<br />18,423,582 12,413,599
<br />1,990,137
<br />4,019,101
<br />8,110,979
<br />1,218,472
<br />139,544
<br />617,747
<br />927,535
<br />1,987,415
<br />3,971,261
<br />3,968,063
<br />1,124,907
<br />197,571
<br />1,105,254
<br />1,064,172
<br />17,023, 515 13,418, 643
<br />126,215
<br />104,770
<br />4,004,757 $
<br />593,798
<br />7,349,075
<br />8,513,559
<br />149,118
<br />106,128
<br />4,072
<br />377,465
<br />37,579
<br />2,711,969 2,698,710 21,135,551
<br />966,643 1,045,901
<br />1,638,063 1,466,847
<br />2,604,706 2,512,748
<br />1,990,137
<br />4,019,101
<br />8,110,979
<br />1,218,472
<br />139,544
<br />617,747
<br />927,535
<br />966,643
<br />1,638,063
<br />19,628,221
<br />3,998,147
<br />617,450
<br />1,397,693
<br />8,568,236
<br />150,924
<br />45,023
<br />4,389
<br />330,447
<br />15,112,309
<br />1,987,415
<br />3,971,261
<br />3,968,063
<br />1,124,907
<br />197,571
<br />1,105,254
<br />1,064,172
<br />1,045,901
<br />1,466,847
<br />15,931,391
<br />1,400,067 (1,005,044) 107,263 185,962 1,507,330 (819,082)
<br />66,122 (7,078) (66,122) 7,078 - -
<br />1,466,189 (1,012,122) 41,141 193,040 1,507,330 (819,082)
<br />47,729,127 48,741,249 40,377,087 40,184,047 88,106,214 88,925,296
<br />466,800 - - - 466,800 -
<br />48,195,927 48,741,249 40,377,087 40,184,047 88,573,014 88,925,296
<br />NET ASSETS - END OF YEAR $ 49,662,116 $ 47,729,127 $ 40,418,228 $ 40,377,087 $ 90,080,344 $ 88,106,214
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