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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />December 31, 2011
<br />Governmental Business -type
<br />Activities Activities
<br />Statement 1
<br />Total
<br />ASSETS
<br />Cash and investments $ 16,876,712 $ 10,224,890 $ 27,101,602
<br />Accrued interest receivable 70,842 70,842
<br />Accounts receivable 110,574 428,427 539,001
<br />Due from other governments 150,962 1,728 152,690
<br />- Internal Balances (559,110) 559,110 -
<br />Taxes receivable 441,759 441,759
<br />Special assessments receivable 12,323,665 31,023 12,354,688
<br />,� Long -term notes receivable 225,000 - 225,000
<br />Prepaid items 167,448 19,572 187,020
<br />Inventory 27,433 27,433
<br />Unamortized bond issue costs 198,063 344 198,407
<br />Permanently restricted cash and investments 119,881 - 119,881
<br />Capital assets:
<br />Land 3,275,859 3,275,859
<br />Construction in progress 211,705 211,705
<br />Other capital assets, net of depreciation 38,579,932 29,621,802 68,201,734
<br />Total assets 72,193,292 40,914,329 113,107,621
<br />%..
<br />LIABILITIES
<br />Accounts payable 160,539 22,857 183,396
<br />Salaries payable 183,876 11,399 195,275
<br />Contracts and retainage payable 4,820 4,820
<br />Accrued interest payable 334,899 6,104 341,003
<br />Due to other governments 1,186 1,186
<br />... Other accrued liabilities 5,407 5,407
<br />Non - current liabilities:
<br />Due within one year 2,554,343 432,646 2,986,989
<br />Due in more than one year 19,291,513 17,688 19,309,201
<br />_
<br />Total liabilities 22,531,176 496,101 23,027,277
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 24,600,103 29,216,866 53,816,969
<br />Restricted for:
<br />Debt service - expendable 11,478,922 11,478,922
<br />Environmental improvements - nonexpendable 119,881 119,881
<br />Unrestricted 13,463,210 11,201,362 24,664,572
<br />Total net assets $ 49,662,116 $ 40,418,228 $ 90,080,344
<br />The accompanying notes are an integral part of these basic financial statements.
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