Laserfiche WebLink
CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2009 <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 2009 was <br />$100,326. <br />Note 13 INTERFUND RECEIVABLE AND PAYABLES <br />The purpose of the interfund receivable and payable balances is for the elimination of negative cash between funds <br />and at December 31, 2009 are as follows: <br />Governmental Activity: <br />G.O. Improvement Bonds 2005A <br />I35E Interchange <br />Other Nonmajor Governmental Funds <br />Business -Type Activity: <br />Sewer Fund <br />Receivable <br />825,571 <br />559,110 <br />Payable <br />559,110 <br />61,843 <br />763,728 <br />$ 1,384,681 $ 1,384,681 <br />Interfund receivable and payable balances not expected to be repaid within one year are reported as advances to and <br />from other fund and at December 31, 2009 are as follows: <br />Receivable Payable <br />Governmental Activity: <br />Area and Unit Charge $ 736,772 $ <br />Other Nonmajor Governmental Funds 736,772 <br />$ 736,772 $ 736,772 <br />The purpose of the advance from the Area and Unit Charge Fund is to temporarily finance projects in the Dedicated <br />Parks Fund. <br />Note 14 INTERFUND TRANSFERS <br />Individual fund transfers for fiscal year 2009 are as follows: <br />Transfer In Transfer Out <br />Governmental Activity: <br />General Fund $ $ (579,745) <br />Improvement Bonds of 2005A (25,000) <br />Area and Unit Charge (588,700) <br />Other Nonmajor Governmental Funds 1,413,985 (174,418) <br />Total Governmental Activity 1,413,985 (1,367,863) <br />Business -Type Activity: <br />Water Fund (35,561) <br />Sewer Fund (10,561) <br />Total Business -Type Activity (46,122) <br />Total $ 1,413,985 $ (1,413,985) <br />In addition to the above transfers, a capital transfer of $182,190 was made from the governmental funds to the <br />business type funds for infrastructure. <br />Interfund transfers are other financing sources and uses within the fund financial statements. The purpose of the <br />transfers are to provide funding for capital improvement projects, capital outlay, and debt service as well as to open <br />and close funds. <br />53 <br />