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CITY OF LINO LAKES, MINNESOTA
<br />RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE
<br />SHEET TO THE STATEMENT OF NET POSITION
<br />December 31, 2013
<br />Statement 4
<br />Total Fund Balances for Governmental Funds
<br />Total net position reported for governmental activities in the statement of net position
<br />is different because:
<br />Capital assets used in governmental funds are not financial resources and,
<br />therefore, are not reported in the funds. Those assets consist of:
<br />Land
<br />Buildings, Net of Accumulated Depreciation
<br />Office Equipment and Furniture, Net of Accumulated Depreciation
<br />Vehicles, Net of Accumulated Depreciation
<br />Machinery and Shop Equipment, Net of Accumulated Depreciation
<br />Other Equipment, Net of Accumulated Depreciation
<br />Infrastructure, Net of Accumulated Depreciation
<br />Some of the City's property taxes and special assessments will be collected after
<br />year-end, but are not available soon enough to pay for the current period's
<br />expenditures and, therefore, are reported as a deferred inflow of resources in the
<br />governmental funds.
<br />Interest on long-term debt is not accrued in governmental funds, but rather is
<br />recognized as an expenditure when due. Accrued interest for general obligation
<br />bonds is included in the statement of net position.
<br />Long-term liabilities that pertain to governmental funds, including bonds payable,
<br />are not due and payable in the current period and, therefore, are not reported as
<br />fund liabilities. All liabilities - both current and long-term - are reported in the
<br />statement of net position. Balances at year-end are:
<br />Bonds Payable
<br />Unamortized Premiums
<br />Unamortized Discounts
<br />Notes Payable
<br />Other Postemployment Benefits
<br />Compensated Absence Payable
<br />Total Net Position of Governmental Activities
<br />The accompanying notes are an integral part of these basic financial statements.
<br />27
<br />$ 3,275,859
<br />3,301,916
<br />407,616
<br />1,064,565
<br />340,245
<br />182,700
<br />29,282,072
<br />$ 21,577,573
<br />37,854,973
<br />10,961,595
<br />(295,994)
<br />(15,585,000)
<br />(50,835)
<br />22,683
<br />(3,695,000)
<br />(83,969)
<br />(614,536) (20,006,657)
<br />$ 50,091,490
<br />
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