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NNW
<br />CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />December 31, 2006
<br />Statement 1
<br />Governmental Business -type
<br />Activities Activities
<br />Total
<br />ASSETS
<br />Cash and investments $ 15,872,714 $ 8,228,751 $ 24,101,465
<br />Cash and investments with escrow agent 118,583 118,583
<br />Accrued interest receivable 290,173 290,173
<br />Accounts receivable 202,538 336,050 538,588
<br />Due from other governments 143,582 - 143,582
<br />INMe Taxes receivable 171,652 171,652
<br />Special assessments receivable 9,897,321 130,705 10,028,026
<br />Prepaid items 154,822 56,302 211,124
<br />Unamortized bond issue costs 215,754 20,967 236,721
<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 5,066,936 5,066,936
<br />Other capital assets, net of depreciation 43,283,432 31,591,370 74,874,802
<br />Total assets 78,326,566 40,364,145 118,690,711
<br />LIABILITIES
<br />Accounts payable 249,374 25,071 274,445
<br />Salaries payable 110,315 3,920 114,235
<br />Contracts and retainage payable 413,601 413,601
<br />Accrued interest payable 364,415 58,510 422,925
<br />Due to other governments 7,942 7,942
<br />Other accrued liabilities 12,988 12,988
<br />Non - current liabilities:
<br />Due within one year 2,342,742 2,035,826 4,378,568
<br />Due in more than one year 20,068,029 1,861,341 21,929,370
<br />Total liabilities 23,556,418 3,997,656 27,554,074
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 29,549,174 29,485,942 59,035,116
<br />Restricted for:
<br />_ Debt service 10,604,508 10,604,508
<br />Environmental improvements - nonexpendable 100,000 100,000
<br />Unrestricted 14,516,466 6,880,547 21,397,013
<br />Total net assets $ 54,770,148 $ 36,366,489 $ 91,136,637
<br />21
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