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City of Lino Lakes, Minnesota
<br />Management's Discussion and Analysis
<br />December 31, 2008
<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 and
<br />business -type activities.
<br />Governmental activities Governmental activities decreased the City of Lino Lakes' net assets by
<br />$4,319,248. 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 />$1,500,690. Operating income and transfers from governmental activities to the water and sewer funds
<br />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, 2008 and 2007:
<br />Governmental Activities
<br />Business -Type Activities Total
<br />2008 2007 2008 2007 2008 2007
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services $ 1,991,870 $ 1,766,331 $ 2,530,586 $ 2,661,875 $ 4,522,456 $ 4,428,206
<br />Operating Grants and Contributions 693,065 851,791 - 693,065 851,791
<br />Capital Grants and Contributions 1,094,789 7,189,346 10,117 80,750 1,104,906 7,270,096
<br />General Revenues:
<br />Property Taxes 9,256,407 8,633,690 - 9,256,407 8,633,690
<br />Franchise Taxes 167,389 150,630 - 167,389 150,630
<br />Other Taxes 901 960 - 901 960
<br />Contributions Not Restricted to
<br />Specific Programs 129,607 256,877 - - 129,607 256,877
<br />Unrestricted Investment Eamings 576,071 864,578 274,498 365,822 850,569 1,230,400
<br />Gain on Disposal of Capital Assets 12,512 17,424 - - 12,512 17,424
<br />Total Revenues 13,922,611 19,731,627 2,815,201 3,108,447 16,737,812 22,840,074
<br />EXPENSES
<br />General Government 2,323,358 2,197,672 - - 2,323,358 2,197,672
<br />Public Safety 4,051,162 3,730,504 - - 4,051,162 3,730,504
<br />Public Service 7,608,626 10,580,560 - - 7,608,626 10,580,560
<br />Parks, Recreation and Forestry 919,948 1,357,133 - 919,948 1,357,133
<br />Conservation of Natural Resources 184,624 183,420 - 184,624 183,420
<br />Community Development 1,114,158 1,122,802 1,114,158 1,122,802
<br />Interest on Long -Term Debt 1,045,781 980,849 - - 1,045,781 980,849
<br />Water - 1,020,770 1,170,902 1,020,770 1,170,902
<br />Sewer - 1,287,943 1,298,963 1,287,943 1,298,963
<br />Total Expenses 17,247,657 20,152,940 2,308,713 2,469,865 19,556,370 22,622,805
<br />CHANGE IN NET ASSETS
<br />BEFORE TRANSFERS (3,325,046) (421,313) 506,488 638,582 (2,818,558) 217,269
<br />Transfers (994,202) (895,687) 994,202 895,687 -
<br />CHANGE IN NET ASSETS (4,319,248) (1,317,000) 1,500,690 1,534,269 (2,818,558) 217,269
<br />Net Assets- Beginning of Year 53,453,148 54,770,148 37,900,758 36,366,489 91,353,906 91,136,637
<br />NET ASSETS - END OF YEAR $ 49,133,900 $ 53,453,148 $ 39,401,448 $ 37,900,758 $ 88,535,348 $ 91,353,906
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