|
CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2011
<br />Note 11 FUND BALANCE
<br />At December 31, 2011, the City had various fund balances restricted, committed, or assigned through legal
<br />restriction and City Council authorization. Major fund balance appropriations at December 31, 2011 are shown on
<br />the various balance sheets as segregations of the fund balance. The fund balances are as follows:
<br />Total Nonspendable Restricted Committed Assigned Unassigned
<br />General Fund: $ 5,440,101 $ - $ - $ - $ - $ 5,440,101
<br />Prepaid items 165,079 165,079 -
<br />Total General Fund 5,605,180 165,079 - 5,440,101
<br />G.O. Improvement Bonds 2005A:
<br />Deficit Fund Balance (1,628,613) - (1,628,613)
<br />Improvement Bonds 2009F:
<br />Debt Service 491 491 -
<br />135E Interchange:
<br />Deficit Fund Balance (6,842) - - (6,842)
<br />Area and Unit Charge:
<br />Advances to Other Funds 578,641 578,641 -
<br />Construction Projects 3,249,995 - - 3,249,995
<br />Total Area and Unit Charge 3,828,636 578,641 3,249,995 -
<br />Nonmajor Governmental Funds:
<br />Prepaid items 2,369 2,369 -
<br />Long -term Loan Receivable 225,000 225,000 -
<br />Corpus of Permanent Fund 100,000 100,000 -
<br />Program Recreation 110,568 - - 110,568
<br />Environmental Improvements 19,881 19,881 -
<br />Debt Service 2,637,638 2,637,638
<br />Construction Projects 7,558,273 - 7,558,273
<br />Deficit Fund Balance (1,519,041) - (1,519,041)
<br />Total Nonmajor Funds 9,134,688 327,369 2,657,519 110,568 7,558,273 (1,519,041)
<br />Total Fund Balances $ 16,933,540 $ 1,071,089 $ 2,658,010 $ 110,568 $ 10,808,268 $ 2,285,605
<br />Note 12 SHARE IN GAS FRANCHISE PROFITS
<br />The City receives a share of the gross billing for natural gas sales by a neighboring City, which provides service
<br />within the City of Lino Lakes. The amount reported as revenue in the General Fund during fiscal year 2011 was
<br />$91,203.
<br />Note 13 INTERFUND RECEIVABLE AND PAYABLES
<br />The purpose of the interfund receivable and payable balances is for the elimination of negative cash between funds
<br />and at December 31, 2011 are as follows:
<br />Governmental Activity:
<br />G.O. Improvement Bonds 2005A
<br />I35E Interchange
<br />Other Nonmajor Governmental Funds
<br />Business -Type Activity:
<br />Sewer Fund
<br />53
<br />Receivable
<br />2,008,599
<br />559,110
<br />Payable
<br />$ 1,628,615
<br />3,759
<br />935,335
<br />$ 2,567,709 $ 2,567,709
<br />
|