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City of Lino Lakes, Minnesota
<br />Management's Discussion and Analysis
<br />December 31, 2010
<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 decreased the City of Lino Lakes' net assets by
<br />$1,012,112. Transfers to Business -Type activities and depreciation of capital assets under the full accrual
<br />basis of accounting were the primary reasons for this decrease.
<br />Business -type activities Business -type activities increased the City of Lino Lakes' net assets by
<br />$193,040. Operating income, investment earnings and transfers from governmental activities to the water
<br />and sewer funds accounted for a significant portion of that increase.
<br />Condensed statements of revenues, expenses, and changes in net assets highlights are as follows for
<br />the years ended December 31, 2010 and 2009:
<br />Governmental Activities
<br />Business -Type Activities Total
<br />2010 2009 2010 2009 2010 2009
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services $ 1,412,916 $ 1,434,181 $ 2,585,231 $ 2,867,981 $ 3,998,147 $ 4,302,162
<br />Operating Grants and Contributions 617,450 682,797 - 62,710 617,450 745,507
<br />Capital Grants and Contributions 1,388,984 1,357,015 8,709 8,769 1,397,693 1,365,784
<br />General Revenues:
<br />Property Taxes 8,568,236 9,673,693 - 8,568,236 9,673,693
<br />Franchise Taxes 150,924 133,892 - 150,924 133,892
<br />Other Taxes 45,023 739 - - 45,023 739
<br />Contributions Not Restricted to
<br />Specific Programs 4,389 11,321 4,389 11,321
<br />Unrestricted Investment Eamings 225,677 429,325 104,770 228,747 330,447 658,072
<br />Gain on Disposal of Capital Assets - 12,644 - - - 12,644
<br />Total Revenues 12,413,599 13,735,607 2,698,710 3,168,207 15,112,309 16,903,814
<br />EXPENSES
<br />General Govemment 1,987,415 2,201,439 - 1,987,415 2,201,439
<br />Public Safety 3,971,261 4,299,366 - - 3,971,261 4,299,366
<br />Public Service 3,968,063 4,027,553 3,968,063 4,027,553
<br />Parks, Recreation and Forestry 1,124,907 1,313,560 - 1,124,907 1,313,560
<br />Conservation of Natural Resources 197,571 215,607 - - 197,571 215,607
<br />Community Development 1,105,254 1,005,997 - 1,105,254 1,005,997
<br />Interest on Long -Term Debt 1,064,172 928,668 - - 1,064,172 928,668
<br />Water 1,045,901 1,089,569 1,045,901 1,089,569
<br />Sewer 1,466,847 1,432,107 1,466,847 1,432,107
<br />Total Expenses 13,418,643 13,992,190 2,512,748 2,521,676 15,931,391 16,513,866
<br />CHANGE IN NET ASSETS
<br />BEFORE TRANSFERS (1,005,044) (256,583) 185,962 646,531 (819,082) 389,948
<br />Transfers (7,078) (136,068) 7,078 136,068 - -
<br />CHANGE IN NET ASSETS (1,012,122) (392,651) 193,040 782,599 (819,082) 389,948
<br />Net Assets - Beginning of Year 48,741,249 49,133,900 40,184,047 39,401,448 88,925,296 88,535,348
<br />NET ASSETS - END OF YEAR $ 47,729,127 $ 48,741,249 $ 40,377,087 $ 40,184,047 $ 88,106,214 $ 88,925,296
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