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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />December 31, 2005
<br />Statement I
<br />Governmental Business -type
<br />Activities Activities Total
<br />ASSETS
<br />Cash and investments $ 21,274,603 $ 5,257,590 $ 26,532,193
<br />Cash and investments with escrow agent 496,875 - 496,875
<br />Accrued interest receivable 233,023 - 233,023
<br />Accounts receivable 197,916 300,763 498,679
<br />Due from other governments 221,720 - 221,720
<br />Taxes receivable 182,943 - 182,943
<br />Special assessments receivable 9,880,796 148,905 10,029,701
<br />.. Prepaid items 150,415 11,095 161,510
<br />Unamortized bond issue costs 143,471 - 143,471
<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 356,061 356,061
<br />Other capital assets, net of depreciation 42,641,724 30,41 1,763 73,053,487
<br />... Total assets 78,332,545 36.486,177 114,818,722
<br />LIABILITIES
<br />Accounts payable 1,191,870 35,594 1,227,464
<br />Salaries payable 101,784 5,757 107,541
<br />Contracts and retainage payable 158,976 15,860 174,836
<br />Accrued interest payable 358,888 59,786 418,674
<br />Due to other governments 7,789 7.789
<br />Other accrued liabilities - 1,510 1,510
<br />Non - current liabilities:
<br />Due within one year 6,332,871 312,874 6,645,745
<br />Due in more than one year 19,092,284 2,139,626 21,231,910
<br />Total liabilities 27,244,462 2,571,007 29,815,469
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 25,460,528 28,342,832 53,803,360
<br />Restricted for:
<br />Debt service 11,950,484 11,950,484
<br />..-
<br />Environmental improvements - nonexpendable 100,000 100,000
<br />Unrestricted 13,5 77,071 5,572,338 19,149,409
<br />Total net assets S 51,088,083 $ 33,915,170 $ 85,003,253
<br />The accompanying notes are an integral part of these basic financial statements..
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