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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS - PROPRIETARY FUNDS
<br />December 31, 2008
<br />Statement 7
<br />Assets
<br />Current assets:
<br />-` Cash and cash equivalents
<br />Accounts receivable
<br />Due from other governmental units
<br />- Due from county - special assessments
<br />Prepaid items
<br />Total current assets
<br />Non - current assets:
<br />Special assessments, long term
<br />Unamortized bond issue costs
<br />Capital assets not being depreciated:
<br />Construction in progress
<br />Capital assets being depreciated:
<br />Buildings
<br />Equipment
<br />'" Water and sewer systems
<br />Total capital assets
<br />Less: allowance for depreciation
<br />Net capital assets
<br />Total noncurrent assets
<br />Total assets
<br />Liabilities
<br />Current liabilities:
<br />Accounts payable
<br />Salaries payable
<br />Accrued interest payable
<br />Bonds payable - current portion
<br />Compensated absences payable - current portion
<br />Total current liabilities
<br />Non - current liabilities:
<br />Bonds payable - long term
<br />Compensated absences payable - long term
<br />Total noncurrent liabilities
<br />Total liabilities
<br />Net assets
<br />Invested in capital assets, net of related debt
<br />Unrestricted
<br />Total net assets
<br />Water
<br />$ 2,964,709
<br />167,447
<br />515
<br />8,578
<br />9,477
<br />3,150,726
<br />93,265
<br />12,718
<br />Sewer
<br />$ 5,609,938
<br />208,474
<br />380
<br />63,803
<br />5,882,595
<br />13,054
<br />48,690
<br />122,811 313,644
<br />19,544,873 21,227,039
<br />19,716,374 21,553,737
<br />(4,326,222) (5,043,569)
<br />15,390,152 16,510,168
<br />15,496,135 16,510,168
<br />18, 646, 861 22,392,763
<br />25,705
<br />5,572
<br />22,867
<br />360,000
<br />13,698
<br />427,842
<br />1,167,650
<br />4,914
<br />1,172,564
<br />1,600,406
<br />13,862,502
<br />3,183,953
<br />$ 17,046,455
<br />The accompanying notes are an integral part of these basic financial statements.
<br />30
<br />14,326
<br />4,832
<br />13,698
<br />32,856
<br />4,914
<br />4,914
<br />37,770
<br />Total
<br />2008
<br />$ 8,574,647
<br />375,921
<br />515
<br />8,958
<br />73,280
<br />9,033,321
<br />93,265
<br />12,718
<br />13,054
<br />48,690
<br />436,455
<br />40,771,912
<br />41,270,111
<br />(9,369,791)
<br />31,900,320
<br />32,006,303
<br />41,039,624
<br />40,031
<br />10,404
<br />22,867
<br />360,000
<br />27,396
<br />460,698
<br />1,167,650
<br />9,828
<br />1,177,478
<br />1,638,176
<br />16,510,168 30,372,670
<br />5,844,825 9,028,778
<br />$ 22,354,993 $ 39,401,448
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