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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />December 31, 2009
<br />Statement 1
<br />Governmental Business -type
<br />Activities Activities
<br />Total
<br />ASSETS
<br />Cash and investments $ 16,698,796 $ 9,183,098 $ 25,881,894
<br />Cash and investments with escrow agent 4,359,660 - 4,359,660
<br />Accrued interest receivable 68,486 - 68,486
<br />Accounts receivable 85,773 393,782 479,555
<br />Due from other governments 256,181 - 256,181
<br />Internal Balances (559,110) 559,110 -
<br />Taxes receivable 576,825 - 576,825
<br />Special assessments receivable 8,859,284 49,759 8,909,043
<br />Long -term notes receivable 225,000 - 225,000
<br />Prepaid items 198,744 21,223 219,967
<br />Inventory - 42,875 42,875
<br />Unamortized bond issue costs 242,118 8,593 250,711
<br />Permanently restricted cash and investments 100,000 100,000
<br />Capital assets:
<br />Land 2,809,059 - 2,809,059
<br />..... Construction in progress - 13,054 13,054
<br />Other capital assets, net of depreciation 41,632,005 31,227,198 72,859,203
<br />Total assets 75,552,821 41,498,692 117,051,513
<br />LIABILITIES
<br />Accounts payable 223,814 78,310 302,124
<br />Salaries payable 203,480 14,549 218,029
<br />"' Contracts and retainage payable 10,860 10,860
<br />Accrued interest payable 389,046 17,554 406,600
<br />Due to other governments 128 128
<br />Non- current liabilities:
<br />Due within one year 2,293,056 398,448 2,691,504
<br />Due in more than one year 23,691,188 805,784 24,496,972
<br />Total liabilities 26,811,572 1,314,645 28,126,217
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 23,400,453 30,071,840 53,472,293
<br />Restricted for:
<br />Debt service 9,314,474 9,314,474
<br />Environmental improvements - nonexpendable 100,000 - 100,000
<br />Unrestricted 15,926,322 10,112,207 26,038,529
<br />Total net assets $ 48,741,249 $ 40,184,047 $ 88,925,296
<br />The accompanying notes are an integral part of these basic financial statements.
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