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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, 2014 <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, therefore, <br />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 />$ 3,275,859 <br />3,116,839 <br />338,088 <br />1,170,030 <br />363,298 <br />167,804 <br />Ak.»>iv` 26,972,973 <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 fund <br />liabilities. All liabilities - both current and long-term - are reported in the statement <br />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 />Statement 4 <br />$ 22,542,363 <br />35,404,891 <br />9,708,584 <br />(249,868) <br />(16,676,000) <br />(28,861) <br />32,684 <br />(2,080,000) <br />(91,023) <br />(635,995) (19,479,195) <br />S 47.926.775 <br />