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City of Lino Lakes, Minnesota
<br />Management's Discussion and Analysis
<br />December 31, 2007
<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 />$1,317,000. 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 />$1,534,269. Operating income, transfers from governmental activities and developers' contribution of
<br />infrastructure assets to the water 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, 2007 and 2006:
<br />Governmental Activities
<br />Business -Type Activities Total
<br />2007 2006 2007 2006 2007 2006
<br />REVENUES
<br />Program Revenues
<br />Charges for Services $ 1,766,331 $ 1,570,002 $ 2,661,875 $ 2,566,874 $ 4,428,206 $ 4,136,876
<br />Operating Grants and Contributions 851,791 643,749 - - 851,791 643,749
<br />Capital Grants and Contributions 7,189,346 5,963,204 80,750 1,535,631 7,270,096 7,498,835
<br />General Revenues
<br />Property Taxes 8,633,690 8,128,684 8,633,690 8,128,684
<br />Franchise Taxes 150,630 140,408 - 150,630 140,408
<br />Other Taxes 960 852 - 960 852
<br />Contributions Not Restricted to
<br />Specific Programs 256,877 - - 256,877
<br />Unrestricted Investment Earnings 864,578 713,794 365,822 253,787 1,230,400 967,581
<br />Gain on Disposal of Capital Assets 17,424 33,217 - 17,424 33,217
<br />Total Revenues 19,731,627 17,193,910 3,108,447 4,356,292 22,840,074 21,550,202
<br />EXPENSES
<br />General Government 2,197,672 2,886,825 2,197,672 2,886,825
<br />Public Safety 3,730,504 3,516,376 - 3,730,504 3,516,376
<br />Public Service 10,580,560 3,871,968 - - 10,580,560 3,871,968
<br />Parks, Recreation and Forestry 1,357,133 1,162,458 - 1,357,133 1,162,458
<br />Conservation of Natural Resources 183,420 156,592 - 183,420 156,592
<br />Community Development 1,122,802 691,880 1,122,802 691,880
<br />Interest on Long -Term Debt 980,849 926,021 - 980,849 926,021
<br />Water - - 1,170,902 976,575 1,170,902 976,575
<br />Sewer - 1,298,963 1,228,123 1,298,963 1,228,123
<br />Total Expenses 20,152,940 13,212,120 2,469,865 2,204,698 22,622,805 15,416,818
<br />CHANGE IN NET ASSETS
<br />BEFORE TRANSFERS (421,313) 3,981,790 638,582 2,151,594 217,269 6,133,384
<br />Transfers (895,687) (299,725) 895,687 299,725 -
<br />CHANGE IN NET ASSETS (1,317,000) 3,682,065 1,534,269 2,451,319 217,269 6,133,384
<br />Net Assets - Beginning of Year 54,770,148 51,088,083 36,366,489 33,915,170 91,136,637 85,003,253
<br />NET ASSETS - END OF YEAR
<br />$ 53,453,148 $ 54,770,148 $ 37,900,758 $ 36,366,489 $ 91,353,906 $ 91,136,637
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