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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2011
<br />Note 2 DEPOSITS AND INVESTMENTS (CONTINUED)
<br />Concentration of Credit Risk
<br />The City places no limit on the amount that it may invest in any one issuer. The following is a list of
<br />investments which individually comprise more than 5% of the City's total investments:
<br />Type Amount Percentage
<br />Federal Home Loan Bank $ 1,302,457 5.57%
<br />Federal Home Loan Mortgage Corporation 1,382,033 5.91%
<br />Federal National Mortgage Association 3,002,641 12.84%
<br />Note 3 CAPITAL ASSETS
<br />Capital asset activity for the year ended December 31, 2011 was as follows:
<br />Beginning
<br />Beginning Prior Period Balance, Ending
<br />Balance Adjustment as Restated Increases Decreases Balance
<br />Governmental Activities:
<br />Capital Assets, Not Being Depreciated:
<br />Land $ 2,809,059 $ 466,800 $ 3,275,859 $ - $ $ 3,275,859
<br />Construction in Progress - - 211,705 211,705
<br />Total Capital Assets, Not Being Depreciated 2,809,059 466,800 3,275,859 211,705 - 3,487,564
<br />Capital Assets, Being Depreciated:
<br />Buildings 6,499,752 6,499,752 30,582 6,530,334
<br />Office Equipment and Furniture 1,160,889 - 1,160,889 160,255 (14,755) 1,306,389
<br />Vehicles 2,348,111 - 2,348,111 200,684 (172,166) 2,376,629
<br />Machinery and Shop Equipment 693,565 693,565 - 693,565
<br />Other Equipment 980,308 - 980,308 - (27,860) 952,448
<br />Infrastructure 75,713,197 75,713,197 1,980,000 - 77,693,197
<br />Total Capital Assets, Being Depreciated 87,395,822 - 87,395,822 2,371,521 (214,781) 89,552,562
<br />Accumulated Depreciation for:
<br />Buildings (2,771,062) - (2,771,062) (217,033) (2,988,095)
<br />Office Equipment and Furniture (800,215) - (800,215) (71,911) 13,427 (858,699)
<br />Vehicles (1,124,750) - (1,124,750) (223,567) 163,835 (1,184,482)
<br />Machinery and Shop Equipment (460,816) - (460,816) (35,242) - (496,058)
<br />Other Equipment (708,433) - (708,433) (35,614) 24,145 (719,902)
<br />Infrastructure (42,389.378) - (42,389,378) (2,336,016) - (44,725,394)
<br />Total Accumulated Depreciation (48.254,654) (48,254,654) (2,919,383) 201,407 (50,972,630)
<br />Total Capital Assets, Being Depreciated, Net 39,141,168 39,141,168 (547,862) (13,374) 38,579,932
<br />Governmental Activities Capital Assets, Net $ 41,950,227 $ 466,800 $ 42,417,027 5 (336,157) $ (13,374) $ 42,067,496
<br />Depreciation expense was charged to governmental functions as follows:
<br />Governmental Activities:
<br />General Government $ 244,716
<br />Public Safety 91,629
<br />Public Services 2,423,523
<br />Parks, Recreation and Forestry 158,665
<br />Conservation of Natural Resources 350
<br />Community Development 500
<br />Total Depreciation Expense, Governmental Activities $ 2,919,383
<br />45
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