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City of Lino Lakes, Minnesota
<br />Management's Discussion and Analysis
<br />December 31, 2009
<br />GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUEDZ
<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 govemmental and
<br />business -type activities.
<br />Governmental activities Governmental activities decreased the City of Lino Lakes' net assets by
<br />$392,651. 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 />$782,599. 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 the
<br />years ended December 31, 2009 and 2008:
<br />Govemmental Activities Business -Type Activities Total
<br />2009 2008 2009 2008 2009 2008
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services $ 1,434,181 $ 1,991,870 $ 2,867,981 $ 2,530,586 $ 4,302,162 $ 4,522,456
<br />Operating Grants and Contributions 682,797 693,065 62,710 745,507 693,065
<br />Capital Grants and Contributions 1,357,015 1,094,789 8,769 10,117 1,365,784 1,104,906
<br />General Revenues:
<br />Property Taxes 9,673,693 9,256,407 9,673,693 9,256,407
<br />Franchise Taxes 133,892 167,389 133,892 167,389
<br />Other Taxes 739 901 739 901
<br />Contributions Not Restricted to
<br />Specific Programs 11,321 129,607 11,321 129,607
<br />Unrestricted Investment Earnings 429,325 576,071 228,747 274,498 658,072 850,569
<br />Gain on Disposal of Capital Assets 12,644 12,512 - - 12,644 12,512
<br />Total Revenues 13,735,607 13,922,611 3,168,207 2,815,201 16,903,814 16,737,812
<br />EXPENSES
<br />General Govemment 2,201,439 2,323,358 2,201,439 2,323,358
<br />Public Safety 4,299,366 4,051,162 4,299,366 4,051,162
<br />Public Service 4,027,553 7,608,626 4,027,553 7,608,626
<br />Parks, Recreation and Forestry 1,313,560 919,948 1,313,560 919,948
<br />Conservation of Natural Resources 215,607 184,624 - 215,607 184,624
<br />Community Development 1,005,997 1,114,158 1,005,997 1,114,158
<br />Interest on Long -Term Debt 928,668 1,045,781 928,668 1,045,781
<br />Water - 1 ,089,569 1,020,770 1,089,569 1,020,770
<br />Sewer 1,432,107 1,287,943 1,432,107 1,287,943
<br />Total Expenses 13,992,190 17,247,657 2,521,676 2,308,713 16,513,866 19,556,370
<br />CHANGE IN NET ASSETS
<br />BEFORE TRANSFERS (256,583) (3,325,046) 646,531 506,488 389,948 (2,818,558)
<br />Transfers (136,068) (994,202) 136,068 994,202 - -
<br />CHANGE IN NET ASSETS (392,651) (4,319,248) 782,599 1,500,690 389,948 (2,818,558)
<br />Net Assets - Beginning of Year 49,133,900 53,453,148 39,401,448 37,900,758 88,535,348 91,353,906
<br />NET ASSETS- END OF YEAR $ 48,741,249 $ 49,133,900 $ 40,184,047 $ 39,401,448 $ 88,925,296 $ 88,535,348
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