HomeMy WebLinkAboutComprehensive Annual Financial Report 12/31/2002COMPREHENSIVE ANNUAL FINANCIAL REPORT
OF THE
CITY OF LINO LAKES, MINNESOTA
lOwn
— FOR THE YEAR ENDED
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DECEMBER 31, 2002
Prepared By: Finance Department
Alan Rolek, Director of Finance
Paula Schloer, Accountant
CITY OF LINO LAKES, MINNESOTA
TABLE OF CONTENTS
Page
Reference Number
I. INTRODUCTORY SECTION
Principal City Officials 1
Organization Chart 2
Letter of Transmittal 3
�- Certificate of Achievement for Excellence in Financial Reporting 11
II. FINANCIAL SECTION
Independent Auditor's Report 12
General Purpose Financial Statements
Combined Balance Sheet - All Fund Types and Account Groups Statement 1 13
Combined Statement of Revenue, Expenditures and Changes in
Fund Balance - All Governmental Fund Types Statement 2 15
Combined Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual - General and
Certain Special Revenue Fund Types Statement 3 16
Combined Statement of Revenue, Expenses and Changes in Retained
Earnings - All Proprietary Fund Types Statement 4 17
Combined Statement of Cash Flows - All Proprietary Fund Types Statement 5 18
Notes to Financial Statements 19
CITY OF LINO LAKES, MINNESOTA
TABLE OF CONTENTS
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Reference Number
Combining, Individual Fund and Account Group Financial Statements
General Fund:
Balance Sheet Statement 6 41
Statement of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual Statement 7 42
Special Revenue Funds:
Combining Balance Sheet Statement 8 48
Combining Statement of Revenues, Expenditures and Changes in
Fund Balance Statement 9 49
Program Recreation — Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual Statement 10 50
Debt Service Funds:
Combining Balance Sheet Statement 11 51
Combining Statement of Revenues, Expenditures and Changes
in Fund Balance Statement 12 53
Capital Project Funds:
Combining Balance Sheet Statement 13 55
Combining Statement of Revenues, Expenditures and Changes
in Fund Balance Statement 14 61
Enterprise Funds:
Combining Balance Sheet Statement 15 67
Combining Statement of Revenues, Expenses and Changes in
Retained Earnings Statement 16 68
Combining Statement of Cash Flows Statement 17 69
Agency Funds:
Combining Balance Sheet Statement 18 70
Combining Statement of Changes in Assets and Liabilities Statement 19 71
CITY OF LINO LAKES, MINNESOTA
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General Fixed Asset Account Group:
Schedule of General Fixed Assets - By Source Statement 20 72
Schedule of General Fixed Assets - By Function and Activity Statement 21 73
Schedule of Changes in General Fixed Assets - By Function and
Activity Statement 22 74
General Long -Term Debt Account Group:
Schedule of General Long -Term Debt Statement 23 75
Supplementary Financial Information
Combined Schedule of Indebtedness Exhibit 1 76
Schedule of Deferred Tax Levies Exhibit 2 78
Debt Service Payments to Maturity - All Bonds Exhibit 3 79
Insurance in Force Exhibit 4 81
Taxable Valuations, Tax Levies and Tax Rates Exhibit 5 82
III. STATISTICAL SECTION
General Fund:
Expenditures By Function - Last Ten Fiscal Years Table 1 83
Revenue By Source - Last Ten Fiscal Years Table 2 84
Property Tax Levies and Collections - Last Ten Fiscal Years Table 3 85
Special Assessment Levies and Collections - Last Ten Fiscal Years
Ratio of Annual Debt Service Expenditures for General Bonded
Debt to Total General Expenditures - Last Ten Fiscal Years
Assessed and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years
Table 4 86
Table 5 87
Table 6 88
CITY OF LINO LAKES, MINNESOTA
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Property Tax Rates - Direct and Overlapping Governments -
Last Ten Fiscal Years Table 7 90
Ratio of Net Bonded Debt to Assessed Value and Net Bonded
Debt Per Capita - Last Ten Fiscal Years Table 8 91
Computation of Direct and Overlapping Debt including Debt Ratios Table 9 92
Computation of Legal Debt Margin Table 10 93
Schedule of Revenue Bond Coverage - Water Fund -
Last Ten Fiscal Years Table 11 94
Principal Taxpayers Table 12 95
Property Value, Construction Permits and Bank Deposits -
Last Ten Fiscal Years Table 13 96
Demographic Statistics Table 14 97
Miscellaneous Statistics Table 15 98
I.
INTRODUCTORY
SECTION
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CITY OF LINO LAKES, MINNESOTA
PRINCIPAL CITY OFFICIALS
December 31, 2002
Elected Officials
Mayor:
John Bergeson
Term Expires
December 31, 2003
Council Members:
Caroline Dahl December 31, 2005
Jeff Reinert December 31, 2005
Donna Carlson December 31, 2003
Jeff O'Donnell December 31, 2003
Appointed Personnel
City Administrator Linda Waite Smith
Director of Finance Alan Rolek
-- Director of Public Safety David Pecchia
Director of Community Development Micheal Grochala
Director of Public Service Rick DeGardner
Director of Administration Daniel Tesch
City of Lino Lakes Organizational Chart
Citizens
Honorable Mayor
and
City Council
Commissions
Cable
• Parks and Recreation
Economic Development
• Planning and Zoning
Fire
Environmental
City Administrator
City Clerk
Professional Consultants
Engineering
Attorney
Fiscal
Public Services
Public Safety
Parks
Public Works
Recreation
Administration
Police
Emergency Management
Community Development
Human Resources
Administrative Services
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Finance
Planning
Economic Development
Engineering
Environmental Services
Inspections
Accounting
Management Infomration Systems
Utility Billing
VEEP
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May 22, 2003
Honorable Mayor
Members of the City Council
City of Lino Lakes, Minnesota
The Comprehensive Annual Financial Report of the City of Lino Lakes, Minnesota is submitted herein for the
year ended December 31, 2002. The City is responsible for the accuracy and completeness of the presentation
including all disclosures. The Finance department believes that the data presented is accurate in all material
aspects and presents the financial position and results of operations of the City in a fair manner.
The organization, form and contents of this report were prepared in accordance with the standards prescribed by
the Government Finance Officer's Association of the United States and Canada, the American Institute of
Certified Public Accountants, the State Auditor's Office, the State of Minnesota and the City Charter.
The Comprehensive Annual Financial Report consists of three parts:
a. An Introductory Section - contains the letter of transmittal, table of contents, elected and administrative
officials and organizational chart.
b. A Financial Section - contains the independent auditor's report, notes to the financial statements,
combined financial statements and the combining and individual fund and account group statements and
supplemental schedules.
c. A Statistical Section - contains various unaudited tables showing the financial trends of the City and
miscellaneous statistics.
We believe that the data presented is accurate in all material aspects. It is presented in a manner that fairly
reflects the financial operations of the City and is easily read for maximum understanding of the financial matters
presented. The notes are considered an essential part in providing insight into the information presented.
Reliable financial information requires an establishment of accounting records that are adequately supported by
internal accounting controls. The City believes that existing internal accounting controls are adequate to provide
reasonable assurance that City assets are safeguarded against loss from unauthorized use or disposition and that
the financial records are reliable for the preparation of the financial statements.
The City Charter grants the City Council full authority over the financial matters of the City. The City
Administrator has the responsibility of submitting the annual budget to the City Council. The budget is adopted
by resolution and the amounts can not increase beyond the estimated receipts except to the extent that actual
receipts exceed the estimate.
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600 Town Center Parkvvav, I in() 1 akec. Minnesota 33014-1182
Phone: 631-982-2400 • Fat: 6'31-982-24(0 (x) • TDD: 631-'182-2410
THE REPORTING ENTITY
In accordance with the Governmental Accounting Standards Board requirements, the financial reporting entity
includes all funds and account groups of the City as well as all of its component units. Component units are
legally separate entities for which the primary government is financially accountable.
Blended component units, although legally separate entities, are in substance, part of the primary government's
operations and are included as part of the primary government. Accordingly, the Economic Development
Authority is reported as a Special Revenue Fund of the primary government.
The City provides a full range of municipal services. These services include: general government, public safety
(police & fire), public works (streets & fleet), parks and recreation, conservation of natural resources
(environmental & solid waste abatement), public improvements, providing and maintaining sanitary and storm
sewer, water infrastructure, and two enterprise funds, the water and sewer funds.
ECONOMIC CONDITION AND OUTLOOK
The City of Lino Lakes is a growing community in the southeast corner of the County of Anoka. It covers an
area of 33 square miles and has a population of approximately 18,000. The population has more than doubled
from the 1990 census figure of 8,807. Within the City's borders lies the 2,550 acre Rice Creek Chain of Lakes
Regional Park. Access to St. Paul and Minneapolis is provided by I -35W and I -35E.
The economic development effort established in 1993 by the City Council has begun to have an impact in the
diversity of the City's tax base. Since 1993, the City has added more than $55 million in additional
commercial /industrial market value. The Apollo Business Park on I -35W and the Clearwater Creek Development
Center on I -35E continue to attract industrial development. A new comrnercial retail center on Lake Drive and
Apollo Drive in the Town Center area, known as the Lino Lakes Marketplace, has begun development and the
two anchor tenants, Target and Kohl's, were completed and opened in 2002.
With the many wetlands and regional parks, environmental issues are important to the City. In 1999, the City
approved its first Preservation Development subdivision, a large step forward in the implementation of the City's
overall environmental inventory and management plan. This plan will preserve the valuable open spaces and
wetlands within the City.
MAJOR INITIATIVES
Commercial development in Lino Lakes has been the focus of a city- initiated development called the Town
Center on the I -35W interchange area. This innovative project incorporates mixed -use development that includes
professional buildings, civic facilities, commercial development and a mix of housing types. The City received a
$220,000 Livable Communities grant in 1998 from the Metropolitan Council to hire Peter Calthorpe Associates,
a planner on the cutting edge of urban and suburban neighborhood development, to refine the City's plan for the
Town Center. An additional grant of $450,000 was awarded in 2000 to begin implementation of the housing
initiatives outlined in the Calthorp plan.
The part of the Town Center area located on the northeast quadrant of I -35W and Lake Drive began developing
as a commercial retail center known as the Lino Lakes Marketplace in late 2001. This development includes a
Target Super Store and a Kohl's Department Store, both completed and opened in 2002, and several smaller
retail buildings which are expected to be completed by 2004. An adjacent development in the same quadrant
include a McDonald's restaurant, which opened in 2002, and several retail buildings expected to be completed by
2004. The development has spurred the need to upgrade Lake Drive from I -35W to 77th Street and to complete
Apollo Drive east of Lake Drive, along with the installation of underground utilities and traffic control systems.
The cost of the project was assessed against the new development.
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The Village, located in the southeast quadrant of the Town Center, is the site of the recently completed Lino
Lakes Civic Complex. This $6 million facility that houses city hall, police and a Centennial School District
program, is a critical component to the success of a mixed use Town Center. The location of the complex is part
of the economic development effort in providing a strong civic focus within the mixed -use center. The Civic
Complex received an award from the League of Minnesota Cities for innovation and excellence in housing,
economic development and community spaces.
The City is participating in the construction costs of a YMCA in The Village section of the Town Center as an
alternative to building a City Community Center. The YMCA is anticipating building a new recreation facility in
the near future as soon as funding for the facility is secured. The City is working toward the development of the
remainder of the Village property in a commercial- residential mixed -use development.
FINANCIAL INFORMATION
Internal Controls
Management of the City is responsible for establishing and maintaining an internal control structure in the
accounting system designed that the assets of the City are protected from loss, theft, misuse and to ensure that
fair, reliable and accurate accounting data is compiled to allow for the preparation of financial statements in
conformity with U.S. generally accepted accounting principles. The internal control structure is designed to
provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable
assurance recognizes that: 1) the cost of a control should not exceed the benefits; 2) the valuation of costs and
benefits requires estimates and judgements by management. As part of the City's annual audit, the internal
control system is evaluated to the extent necessary for audit purposes and changes are recommended when
needed.
Budgeting Controls
The City maintains budgetary controls to ensure compliance with legal provisions embodied in the annual
appropriated budget approved by the City Council. Activities of the General Fund and the Program Recreation
Special Revenue Fund are included in annual appropriated budgets. The legal level of budgetary control is
established at the department level, but management control is exercised at the line item level.
As demonstrated by the statements and schedules included in the financial section of this report, the City
▪ continues to meet its responsibility for sound financial management.
General Fund
• The General Fund accounts for all revenues and expenditures necessary to provide basic governmental operations
of the City.
General Fund revenues totaled $6,841,420 in 2002 compared to $6,193,834 in 2001. The breakdown of revenues
is shown in the following table:
2002 2001 $ Change % Change
General property taxes $4,543,106 $4,125,264 $417,842 10.13%
Licenses and permits 913,498 1,016,456 (102,958) (10.13 %)
Intergovernmental revenues 893,861 409,607 484,254 118.22%
Special Assessments 5,526 4,835 691 14.29%
Charges for services 196,351 278,863 (82,512) (29.59 %)
Fines and forfeits 100,393 101,559 (1,166) (1.15 %)
Interest on Investments 74,118 95,004 (20,886) (21.98 %)
Miscellaneous 114,567 162,246 (47,679) (29.39 %)
Total $6,841,420 $6,193,834 $647,586 10.46%
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General property taxes increased in 2002 reflecting the growth in the tax base of the City and the additional
service needs arising from that growth. The City issued building permits for 2 major commercial buildings in
2001 which inflated the permit revenue for that year; accordingly, licenses and permits decreased in 2002,
although building permits issued for new housing continued at a strong pace. The state legislature enacted a new
Market Value Homestead Credit Aid in 2002 that accounts for the marked increase in intergovernmental revenue.
A change in policy relating to administrative charges for processing of development applications accounts for the
decrease in service charges. In the past a flat 3% of the contract cost was charged for administrative purposes.
Starting in 2002 the actual cost of providing administrative services was charged to the developer, which resulted
in lower administrative revenues. Fines and forfeitures decreased slightly due to a reduced emphasis on traffic
enforcement employed throughout the year. Decreases in refunds and reimbursements and cable TV franchise
fees and the receipting of revenue from the sale of used equipment into a equipment replacement revolving fund
resulted in a reduced miscellaneous revenue in 2002. Investment earnings were lower in 2002 due to
dramatically lower interest rates in response to a sagging economy. The Federal Reserve lowered the federal
funds rate 12 times in 2001 and 2002.
General fund expenditures totaled $6,213,645 in 2002 compared to $5,808,265 in 2001. The breakdown of
expenditures is shown in the following table:
2002 2001 $ Change % Change
General Government $1,982,096 $1,871,615 $110,481 5.90%
Public Safety 2,519,152 2,246,146 273,006 12.15%
Public Works 872,193 868,289 3,904 0.45%
Parks and Recreation 696,511 663,360 33,151 5.00%
Conservation of Natural Resources 122,490 158,855 (36,365) (22.89 %)
Other - Contingency 21,203 -0- 21,203 100.00%
Total
$6,213,645 $5,808,265 X105,380 6.98%
Personnel costs drove the majority of the increase in expenditures across all categories in 2002. Salaries and
wages increased an average of 3% and medical insurance premiums increased by 26 %. This was the primary
reason for the increase in the General Government category. Energy costs and contractual services to update the
zoning and subdivision codes also contributed to the increase. Public safety increased mainly due to higher
personnel costs, including the addition of a patrol officer and a building inspector, additional capital outlay
expenditures and increased fire contract costs. Public Works costs were fairly stable in 2002, with higher labor
costs being offset in other expenditure categories. The increase in Parks and recreation expenses was primarily
due to labor costs. Lower contractual expenditures for tree maintenance and environmental purposes were the
principal reasons for the decrease in the Conservation of Natural Resources area in 2002. The `Other' category is
the expenditure of contingency funds that the City has budgeted for unforeseen circumstances. The fund balance
of the General fund continues to grow as shown below:
Expenditure Fund Balance Percent
Budget Beginning of Year of Budget
1993 2,829,202 1,406,296 49.71%
1994 3,169,862 1,756,659 55.42%
1995 3,551,957 1,870,934 52.67%
1996 3,966,738 2,086,231 52.59%
1997 4,400,087 2,723,025 61.89%
1998 5,524,646 3,057,912 55.35%
1999 5,252,474 3,411,332 64.95%
2000 5,601,671 3,434,474 61.31%
2001 6,056,426 3,541,596 58.48%
2002 6,751,953 3,924,669 58.13%
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The fund balance for the year increased $428,349 for a total ending fund balance of $4,353,018.
Special Revenue Funds
Special Revenue Funds account for the proceeds of specific revenue sources that are to be expended for specified
uses. The City has established three Special Revenue Funds.
The Economic Development Authority Fund accounts for personal expenses of the City Council when acting as
the Economic Development Authority.
The Community Development Block Grant Fund accounts for expenditures associated with funds allocated
through Anoka County from the Federal Government to fund allowable projects.
The Program Recreation Fund accounts for the activities of the Recreation Department for self - supporting
.. programs.
Debt Service Funds
Debt Service Funds account for the accumulation of resources for and the payment of principal and interest on
general long -term debt. The City currently maintains several debt service funds.
Improvement Bonds Funds account for the accumulation of resources for debt service payments made on general
obligation debt issued for local improvement projects.
The Certificates of Indebtedness Fund accounts for debt service payments made on debt issued to finance capital
purchases. These certificates are financed internally.
The Public Project Revenue Bonds Fund and Public Project Refunding Bond Fund were established to account
for debt service payments related to the construction of the City's fire hall and civic complex. The Public Project
Revenue Bond issue has been completely retired; therefore, this debt service fund was closed to the Public
Project Refunding Bond Fund at the end of the year via a residual equity transfer.
The Lease Revenue Bond Fund was established to account for debt service payments related to the construction
of the City's Civic Complex.
Capital Project Funds
Capital Project Funds account for financial resources used for the acquisition or construction of capital facilities
and equipment.
The Closed Bond Fund was established to account for all excess bond receipts.
The Capital Improvement Fund was established to account for the acquisition and replacement of capital
equipment. Revenues received from antenna leases are also recorded and accumulated in this fund.
The Dedicated Parks Fund accounts for revenues and expenditures for the acquisition and construction of park
projects.
The Area and Unit Charges Fund accounts for water and sewer area assessments to be used for the construction
of City utility infrastructure.
The Surface Water Management was established to help fund the costs associated with surface water issues and
planning.
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The Town Center /Civic Center Project Funds were established to account for costs associated with the creation
of the "Village ", including: infrastructure, civic buildings and development of the property for commercial use.
The Lake /Apollo Drive Improvement Fund was established to account for the costs of upgrading Lake Drive and
Apollo Drive east of Lake Drive for the Market Place development.
The Twilight Acres /W. Shadow Pond Improvement Fund was established to account for the costs of installing
sewer infrastructure in the Twilight Acres area and to install utility and street improvements on West Shadow
Ponds Drive.
Tax Increment Funds were established to account for projects financed with tax increments.
Enterprise Funds
Enterprise Funds account for operations that are financed and operated in a manner similar to private business
enterprises. The City maintains two enterprise funds.
The Water Fund accounts for the operations of the municipal water system. The following table illustrates the
operations:
2002 2001 $ Change % Change
Operating Revenues $777,978 $865,943 (S87,965) (10.16 %)
Operating Expenses 610,751 508,649 102 102 20.07%
(Excluding Depreciation)
Operating Income (Loss)
$167,227 $357,294 (S190,067) (53.20 %)
New water rates were implemented in April 2001, and were not changed in 2002. Rates were reconfigured into a
tiered structured to provide an incentive to conserve water. The rates were also set to capture system
depreciation for future system replacement. Precipitation in 2002 was much higher than the annual average. As
a result, less water was consumed for irrigation purposes, resulting in lower water revenues. Continuation of a
program to implement a telephone meter reading system resulted in increases in personnel, supply and
contractual costs over the previous year.
The Sewer Fund accounts for the operations of the municipal sanitary sewer system. The following table
illustrates the operations:
Operating Revenues
Operating Expenses
(Excluding Deprecation)
Operating Income (Loss)
2002 2001 $ Change % Change
$1,112,809 $1,011,983 $100,826 9.96%
645.066 575.379 69.687 12.11%
$467,743 $436,604 $$ 31,139 7.13%
Sewer rates were increased slightly in 2002, with system depreciation built into the rate for future system
replacement. Additional users also contributed to increased revenues for the year. Personnel, contractual service
costs, and Metropolitan Council Environmental Services charges for sewage treatment were the primary reasons
for the increase in expenses from the previous year.
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AGENCY FUNDS
Agency Funds account for assets held as an agent for individuals, organizations, other governmental units or
other funds. The City currently maintains three agency funds.
The Contractors Deposits Fund accounts for the pass - through costs of developer financed projects within the
City.
The Pending Assessments Fund accounts for the receipt of assessment prepayments prior to certification. This
fund is closed annually at certification time. The balance in this fund is the result of assessments being collected
that will not be certified to Anoka County until 2002.
The Investment Fund accounts for the pooling of all the City's money that is invested throughout the year.
Interest on investments is recorded in this fund before allocating to all funds. Interest earned in 2002 was
$487,505 compared to $611,806 in 2001. The decrease in interest income resulted from changing market
conditions in 2001 and 2002. Interest rates dropped substantially in response to a weakened economy leading to
reduced returns on investment.
GENERAL FIXED ASSETS ACCOUNT GROUP
General fixed assets are those assets used for general governmental functions only. This does not include
enterprise funds. Depreciation is not recorded on the general fixed assets.
GENERAL LONG -TERM DEBT ACCOUNT GROUP
This group reports the current assets available in the Debt Service Funds and recognizes the amounts to be
provided through future tax levies, assessments and tax increments.
CASH MANAGEMENT
The City's policy is to invest all available moneys at competitive rates in accordance with Minnesota law.
Investments are made by minimizing credit and market risks while maintaining a competitive yield. Funds are
invested in certificates of deposit, commercial paper and U.S. government agencies. Cash is pooled in one
'— account to provide maximum return.
WNW
Cash temporarily idle during the year was invested in certificates of deposit, commercial paper, and obligations
of the U.S. Treasury. The City's investment policy's primary objective is safety of principal. Therefore, all
deposits were either insured by Federal depository insurance or were collateralized as required by State Statute.
The City Council reviews the investment policy annually and last amended it in 1998.
DEBT ADMINISTRATION
At year -end, the City had a number of debt issues outstanding. These issues included $6,244,450 of general
obligation bonds and equipment certificates, $11,640,000 of general obligation improvement bonds with special
assessments pledged and $3,220,000 of revenue bonds. During 2002, the City issued general obligation
improvement bond issues of $645,000 and $2,110,000. Both issues are to be repaid from special assessments.
Additionally, the City issued $140,000 of equipment certificates internally, the proceeds of which were used to
purchase capital equipment.
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RISK MANAGEMENT
The City's general property and liability coverage is provided through the League of Minnesota Cities Trust
(LMCIT) and worker's compensation is provided through State Fund Mutual.
At the beginning of the insurance year, the City deposits with State Fund a premium determined by calculating
estimated payroll and applying experience modification ratios. An audit is performed at the end of the insurance
year, which may produce a refund or an adjustment due. State Funds reserves and rates are reviewed annually by
an actuary to assure that the program remains financially strong.
INDEPENDENT AUDIT
Minnesota State law requires that cities over 2,500 population submit annual financial statements attested by a
certified public accountant or the State Auditor to the State Auditor. The firm Larson, Allen, Weishair and Co.,
LLP was retained by the City Council to perform the audit. U.S. generally accepted auditing standards and the
standards set forth in the Comptroller General of the United States' Government Auditing Standards, were used
by the auditors in conducting the engagement. In addition, the requirements of the Federal Single Audit Act of
1984 and the related U.S. Office of Management and Budget's Circular A -133 have been met by the City. The
auditor's report on the general purpose financial statements and combining and individual fund statements and
schedules is included in the financial section of the report. The audlitor's reports on internal controls and
compliance with applicable laws and regulations can be found in a separately issued legal compliance report.
CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING
The Government Finance Officers Association of the United States and Canada (GFOA) awards the Certificate
of Achievement for excellence in financial reporting to cities that meet certain criteria. A governmental unit
must publish an easily readable and efficiently organized comprehensive annual financial report, the contents of
which conform to program requirements. The City of Lino Lakes received this award for the year ended
December 31, 2001. This marks the seventh consecutive year that the City has received this prestigious award.
The City is submitting the 2002 report to GFOA for consideration of the Certificate of Achievement for
Excellence in Financial Reporting. We believe our current report continues to conform to the high standards of
the Certificate program.
ACKNOWLEDGMENTS
The timely preparation of this report could not have been accomplished without the dedicated services of the
Finance Department, auditors and other city staff.
I also want to express my appreciation to the Mayor and City Council for their responsible policies involving the
financial operation of the City.
Respectfully submitted,
an J. Rolelr
D - tor o inance
10
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Lino Lakes,
Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2001
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
qW.
President
Executive Director
11
II.
FINANCIAL
SECTION
Lars nAlled
CPAs, Consultants & Advisors
www.larsonallen.com
INDEPENDENT AUDITOR'S REPORT
Honorable Mayor and
Members of the City Council
City of Lino Lakes, Minnesota
We have audited the accompanying general purpose financial statements of the City of Lino Lakes, Minnesota as
of and for the year ended December 31, 2002 as listed in the Table of Contents. These general purpose financial
statements are the responsibility of the City's management. Our responsibility is to express an opinion on these
general purpose financial statements based on our audit.
We conducted our audit in accordance with U.S. generally accepted auditing standards and the standards
applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of
the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the general purpose financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall general purpose financial statement presentation. We believe that
our audit provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all material respects,
the financial position of the City of Lino Lakes, Minnesota as of December 31, 2002, and the results of its
operations and cash flows of its proprietary fund types for the year then ended in conformity with U.S. generally
accepted accounting principles.
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In accordance with Government Auditing Standards, we have also issued a report dated March 20, 2003 on our
consideration of the City of Lino Lakes Minnesota's internal control over financial reporting and our tests of its
—• compliance with certain laws, regulations, contracts, and grants. This report is an integral part of an audit
performed in accordance with Government Auditing Standards and should be read in conjunction with this report
in considering the results of our audit.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a
whole. The combining and individual fund and account group financial statements, supplementary financial
information and statistical section listed in the Table of Contents are presented for purposes of additional analysis
and are not a required part of the general purpose financial statements of the City of Lino Lakes, Minnesota. Such
information, except for the statistical section on which we express no opinion, has been subjected to the auditing
procedures applied in our audit of the general purpose financial statements and, in our opinion, is fairly stated in
all material respects in relation to the general purpose financial statements taken as a whole.
Austin, Minnesota
March 20, 2003
Now
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LARSON, ALLEN, WEISIIAIR & CO., LLP
Larson, Allen, Weishair & Co., LL
- GENERAL PURPOSE FINANCIAL STATEMENTS
CITY OF LINO LAKES, MINNESOTA
COMBINED BALANCE SHEET -
ALL FUND TYPES AND ACCOUNT GROUPS
December 31, 2002
Governmental Fund Types
Special Debt Capital
Assets and Other Debits General Revenue Service Project
Cash and investments $ 4,311,947 $ 28,606 $ 1,309,101 $ 6,325,288
Cash and investments with escrow agent - 492,461
Accrued interest receivable - 348 -
Accounts receivable 123,781 97 - 17,798
Deposits receivable - -
Due from other govemmental units 113,796 903,036
Interfund receivable 7,097,332
Taxes receivable:
Delinquent 50,745 10,604
Due from County 89,704 15,692 15,638
Delinquent tax increment - 3,262
Special assessments receivable:
Delinquent 4,586 31,998
Deferred 2,672,186 1,141,639
Due from County - - 2,486 9,524
Prepaid items 120,727 2,430 - -
Advances to Other Funds - - 957,111
Land held for resale 989,506
Fixed assets (net of accumulated depreciation)
Amount available in Debt Service Fund
Amount to be provided for retirement of GLTD -
Total assets
$ 4,810,700 $ 31,133
$ 4,507,464 $ 17,492,132
Liabilities, equity and other credits
Liabilities:
Interfund payable $ - $ - $ 570,527 $ 6,453,615
Accounts payable 170,217 2,926 43,645 540,229
Salaries payable 235,645 577 - -
Retainage payable - - 98,189
Accrued interest payable -
Deposits payable -
Due to other governmental units 1,075 1,822
Advances from Other Funds - 957,111
Deferred revenue 50,745 2,687,376 1,176,899
Bonds payable -
Contract for deed payable
Compensated absences payable
Total liabilities 457,682 3,503 3,301,548 9,227,865
Equity and other credits:
Contributed capital
Invested in general fixed assets
Retained earnings:
Reserved
Unreserved -
Fund balance (deficit):
Reserved 120,727 2,430 1,818,859 1,946,617
Unreserved:
Designated 4,232,291 25,200 10,756,007
Undesignated - - (612,943) (4,438,357)
Total equity and other credits 4,353,018 27,630 1,205,916 8,264,267
Total liabilities, equity and other credits $ 4,810,700 $ 31,133 $ 4,507,464 $ 17,492,132
The accompanying notes are an integral part of these financial statements.
13
IMIM
IMIE
Statement 1
Proprietary Fiduciary Account Groups Totals
Fund Type Fund Type General General Long- (Memorandum Only)
Enterprise Agency Fixed Assets Term Debt 2002 2001
$ 2,458,626 $ 763,833 $ $ $ 15,197,401 $ 13,921,477
- 492,461 507,959
- 73,190 73,538 116,698
251,002 - 392,678 439,985
- 10,520 10,520 10,520
1,016,832 1,139,215
7,097,332 6,072,346
■
191,137
2,446
10,781
26,480,755
$ 29,394,747 $ 847,543
61,349 56,056
121,034 118,498
3,262 48,963
36,584 36,789
4,004,962 3,153,752
14,456 318,047
133,938 117,196
957,111 853,917
- 989,506 989,506
13,643,016 40,1 23,771 40,108,237
- 1,205,916 1,205,916 1,726,449
17,063,001 17,063,001 16,459,177
$ 13,643,016 $ 18,268,917 $ 88,995,652 $ 86,194,787
$ $ 73,190 $
54,603 34,553
11,127 -
69,846 -
- 739,800
1,041 -
3,220,000
29,400
3,386,017 847,543
22,935,423
1,053,159
2,020,148
26,008,730
$ 29,394,747
$ 847,543
13,643,016
$ $ 7,097,332 $ 6,072,346
846,173 793,017
247,349 164,791
98,189 38,251
69,846 74,475
739,800 434,056
3,938 41,446
957,111 853,917
- 3,915,020 3,296,119
17,884,450 21,104,450 20,346,430
959,352
384,467 413,867 373,854
18,268,917 35,493,075 33,448,054
22,935,423 23,480,325
13,643,016 13,113,912
1,053,159 474,423
2,020,148 1,897,924
3,888,633 3,719,345
15,013,498 14,006,738
(5,051,300) (3,945,934)
13,643,016 53,502,577 52,746,733
$ 13,643,016 $ 18,268,917 $ 88,995,652 $ 86,194,787
14
CITY OF LINO LAKES, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - ALL GOVERNMENTAL FUND TYPES
For the Year Ended December 31, 2002
Statement 2
Revenue:
General property taxes
Tax increments
Licenses and permits
Intergovernmental
Special assessments
Charges for services
Fines and forfeits
Investment earnings
Refunds and reimbursements
Miscellaneous
Total revenue
Expenditures:
Current:
General government
Public safety
Public works
Parks and recreation
Conservation of natural resources
Capital outlay:
General government
Public safety
Public works
Parks and recreation
Conservation of natural resources
Debt service:
Principal
Interest and fiscal charges
Construction/acquisition
Other
Total expenditures
Revenue over (under) expenditures
Other financing sources (uses):
Operating transfer in
Operating transfer out
Bond proceeds
Payment from refunding bond escrow
Total other financing sources (uses)
Net increase (decrease) in fund balance
General
$ 4,543,106
913,498
893,861
5,526
196,351
100,393
74,118
31,749
82,818
6,841,420
Special
Revenue
$
389
238,836
1,582
240,807
Debt Capital
Service Project
$ 939,210 $ -
760,884
75,239 (110,673)
554,087 1,490,402
176,227
45,006 326,476
65,476
112,500 417,970
1,726,042 3,126,762
Totals
(Memorandum Only)
2001
$ 4,786,807
1,069,542
1,016,456
2,101,953
1,783,237
684,264
101,559
571,248
124,606
574,414
12,814,086
2002
$ 5,482,316
760,884
913,498
858,816
2,050,015
611,414
100,393
447,182
97,225
613,288
11,935,031
1,951,411 205 920,864 2,872,480 2,652,762
2,463,004 2,463,004 2,212,932
872,193 - 373,258 1,245,451 1,134,874
696,511 255,528 - 952,039 914,432
111,880 - 111,880 139,599
30,685 683,406 714,091 17,376
56,148 141,551 197,699 209,955
134,699 134,699 540,762
- 204,990
10,610 10,610 19,256
21,203
1,891,980
831,928
6,213,645 255,733 2,723,908
627,775 (14,926) (997,866)
395 205 391,681
(199,821) (395)
85,652
(199,426) (190) 477,333
428,349 (15,116) (520,533)
Fund balance
Beginning of year 3,924,669 42,746 1,726,449
Residual equity transfer in
Residual equity transfer out
Fund balance - December 31
$ 4,353,018 $ 27,630
The accompanying notes are an integral part of these financial statements.
959,352 2,851,332 2,097,050
198,467 1,030,395 960,281
1,833,592 1,833,592 501,810
21,203 -
5,245,189 14,438,475 11,606,079
(2,118,427) (2,503,444) 1,208,007
459,191 851,472 412,239
(955,331) (1,155,547) (719,889)
2,792,549 2,878,201 332,030
(1,680,000)
2,296,409 2,574,126 (1,655,620)
177,982 70,682 (447,613)
8,086.285 13,780,149
85.457 85,457
(85 „457) (85,457)
14,227,762
671,695
(671,695)
$ 1,205,916 58,264.,267 $ 13,850,831 $ 13,780,149
▪ CITY OF LINO LAKES, MINNESOTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
_ GENERAL AND CERTAIN SPECIAL REVENUE FUND TYPES
For the Year Ended December 31, 2002
MOM
Statement 3
Revenue:
General property taxes
Licenses and permits
Intergovernmental
Special Assessments
Charges for services
▪ Fines and forfeits
Investment earnings
Refunds and reimbursements
▪ Miscellaneous
Total revenue
Special Revenue Fund -
General Program Recreation
Over Over
(Under) (Under)
Budget Actual Budget Budget Actual Budget
$ 4,901,509 $ 4,543,106 $ (358,403) $
726,525 913,498 186,973
545,553 893,861 348,308
5,526 5,526
230,000 196,351 (33,649)
100,000 100,393 393
85,000 74,118 (10,882)
45,000 31,749 (13,251)
90,000 82,818 (7,182)
6,723,587 6,841,420 117,833
$ - $
250,340 238,836
250,340
1,576
(11,504)
1,576
240,412 (9,928)
- Expenditures:
Current:
General government 2,057,617 1,951,411 (106,206)
Public safety 2,514,966 2,463,004 (51,962)
Public works 933,661 872,193 (61,468) -
Parks and recreation 742,261 696,511 (45,750) 226,351 255,528 29,177
- Conservation of natural resources 133,075 111,880 (21,195)
Capital outlay:
General government 50,600 30,685 (19,915)
Public safety 35,664 56,148 20,484
.�
Public works 150,000 (150,000)
Parks and recreation 25,000 - (25,000)
Conservation of natural resources 30,000 10,610 (19,390)
Other 79,109 21,203 (57,906)
Total expenditures 6,751,953 6,213,645 (538,308) 226,351 255,528 29,177
- Revenue over (under) expenditures (28,366) 627,775 656,141 23,989 (15,116) (39,105)
Other financing sources (uses):
Operating transfers from other funds 395 395
Operating transfers to other funds (199,821) (199,821)
Net increase (decrease) in fund balance (28,366) 428,349 $ 456,715 $ 23,989 (15,116) $ (39,105)
Fund balance
Beginning balance
- Fund balance - December 31
3,924,669
$ 4,353,018
The accompanying notes are an integral part of these financial statements.
16
42,746
$ 27,630
CITY OF LINO LAKES, MINNESOTA
COMBINED STATEMENT OF REVENUE, EXPENSES AND
AND CHANGES N RETAINED EARNING - ALL PROPRIETARY FUND TYPES
For The Year Ended December 31, 2002
Operating revenue:
Water sales
Sewer charges
Other operating revenue
Total operating revenue
Statement 4
Enterprise Funds
2002 2001
$ 767,766 $ 860,896
1,112,809 1,011,940
10,212 5,090
1,890,787 1,877,926
Operating expenses:
Personal services 283,517 258,237
Materials and supplies 370,050 257,796
Contractual services 70,926 97,140
MCES sewer charges 436,219 370,968
Depreciation:
Purchased assets 101,059 103,092
Contributed assets 544,902 529,471
Utilities 74,369 78,020
Other 20,736 21,867
Total operating expenses 1,901,778 1,716,591
Net income (loss) from operations
(10,991) 161,335
Other income (expense):
Investment earnings 40,323 40,558
Special assessments (67,775) 23,243
Contributions from private sources 60,111
Bond interest (168,935) (183,750)
Paying agent fees (750) (1,500)
Total other income (expense) (137,026) (121,449)
Net income (loss) before operating transfers (148,017) 39,886
Operating transfers:
Operating transfer from Capital Project Fund 304,075 307,650
Net income (loss) 156,058 347,536
Credit arising from transfer of depreciation
to contributions from property owners 544,902 529,471
Retained earnings - January 1 2,372,347 1,495,340
Retained earnings - December 31 $ 3,073,307 $ 2,372,347
The accompanying notes are an integral part of these financial statements.
17
CITY OF LINO LAKES, MINNESOTA Statement 5
COMBINED STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES
▪ For the Year Ended December 31, 2002
Enterprise Funds
2002 2001
- Cash flows from operating activities:
Operating income (loss) $ (10,991) $ 161,335
Adjustments to reconcile operating income to
▪ net cash flows from operating activities:
Depreciation 645,961 632,563
Change in assets and liabilities:
Decrease (increase) in receivables 26,661 (70,771)
Decrease (increase) in prepaid items (1,105) (3,005)
Increase (decrease) in payables 13,930 (52,717)
Net cash flows from operating activities 674,456 667,405
Cash flows from noncapital financing activities:
Operating transfer from Capital Project Funds
304,075 307,650
Cash flows from capital and related financing activities:
Principal paid on revenue bonds (245,000) (875,000)
Investment with escrow agent 650,367
Collection of special assessments 34,921 26,300
Interest and paying agent fees on revenue bonds (174,314) (208,051)
Acquisition of fixed assets (72,280) (4,148)
Net cash flows from capital and related financing activities (456,673) (410,532)
Cash flows from investing activities:
Investment earnings 40,323 53,292
Net increase (decrease) in cash and cash equivalents 562,181 617,815
Cash and cash equivalents - January 1 1,896,445 1,278,630
Cash and cash equivalents - December 31 $ 2,458,626 $ 1,896,445
Noncash investing, capital and financing activities:
• - Water and Sewer lines in the amount of $60,111 and $882,235 were contributed to the Water and Sewer Fund
in 2002 and 2001 respectively.
The accompanying notes are an integral part of these financial statements.
18
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Lino Lakes is a public corporation formed under Minnesota Statute 410. As such, the City is under
home rule charter regulations and applicable statutory guidelines.
The financial statements of the City of Lino Lakes have been prepared in conformity with U.S. generally
accepted accounting principles as applied to governmental units by the Governmental Accounting Standards
Board (GASB). The following is a summary of the significant accounting policies:
A. FINANCIAL REPORTING ENTITY
As required by U.S. generally accepted accounting principles, the financial statements of the reporting
entity include those of the City of Lino Lakes and its component units. A component unit is a legally
separate entity for which the primary government is financially accountable, or for which the exclusion
of the component unit would render the financial statements of the primary government misleading.
The criteria used to determine if the primary government is financially accountable for a component
include whether or not the primary government appoints the voting majority of the potential component
unit's board, is able to impose its will on the potential component unit, is in a relationship of financial
benefit or burden with the potential component unit, or is fiscally depended upon by the potential
component unit.
COMPONENT UNITS
In conformity with U.S. generally accepted accounting principles, the financial statements of
component units have been included in the financial reporting entity either as blended component units
or as discretely presented component units.
Blended Component Units.
The Economic Development Authority (EDA) of Lino Lakes is an entity legally separate from the City.
However, for financial reporting purposes, the EDA is reported as if it were part of the City's
operations because the members of the City Council serve as commission members. The EDA does not
issue separate financial statements.
The Housing and Redevelopment Authority (HRA) of Lino Lakes is an entity legally separate from the
City. However, for financial reporting purposes, the HRA is reported as if it were part of the City's
operations because the members of the City Council serve as commission members. The HRA has not
yet incurred any financial activity.
B. FUND ACCOUNTING
The accounting system of the City is organized and operated on a fund basis. A fund is defined as a
fiscal and accounting entity with a self - balancing set of accounts recording cash and other financial
resources, together with all related liabilities and residual equities or balances, and changes therein,
which are segregated for the purpose of carrying on specific activities or attaining certain objectives in
accordance with special regulations, restrictions or limitations.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
The following types of funds and account groups are employed by the City:
GOVERNMENTAL FUNDS
General Fund - to account for all financial resources except those required to be accounted for
in another fund.
Special Revenue Funds - to account for the proceeds of specific revenue sources that are legally
restricted to expenditures for specified purposes.
Debt Service Funds - to account for the accumulation of resources for, and the payment of,
general long -term debt principal, interest, and related costs.
Capital Project Funds - to account for financial resources to be used for the acquisition or
construction of major facilities other than those financed by Proprietary Funds.
PROPRIETARY FUNDS
Enterprise Funds - to account for operations: (a) that are financed and operated in a manner
similar to private business enterprises - where the intent of the governing body is that the costs
(expenses, including depreciation) of providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges; or, (b) where the
governing body has decided that periodic determination of revenues earned, expenses incurred,
and/or net income is appropriate for capital maintenance, public policy, management control,
accountability, or other purposes.
FIDUCIARY FUNDS
Trust and Agency Funds - to account for assets held by a governmental unit in a trustee capacity
or as an agent for individuals, private organizations, other governmental units, and/or other
funds. These include (a) expendable trust funds, (b) nonexpendable trust funds, (c) pension
trust funds, and (d) agency funds.
ACCOUNT GROUPS
The governmental fund types are designed to account for the financial flow of a particular fund;
therefore, they generally include only current assets and current liabilities on their balance
sheets. The City maintains two account groups to account for noncurrent assets and long -term
liabilities as follows:
General Fixed Assets - The City maintains a separate account group which contains the fixed
assets used in the governmental fund type operations. They are assets of the City as a whole
and not of individual funds.
General Long -Term Debt - This account group contains the long-term obligations of the City
including general obligation bonds, certificates of indebtedness, contracts payable and
compensated absences payable. These long -term liabilities are expected to be financed by the
governmental funds.
20
ISOM
Mow
-
Now
IMO
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. BASIS OF ACCOUNTING
The accounting and reporting treatment applied to a fund is determined by its measurement focus. All
governmental funds are accounted for on a current financial resources measurement focus. This means
that only current assets and current liabilities are generally included on their balance sheets.
Governmental fund operating statements present increases (revenues and other financing sources) and
decreases (expenditures and other financing uses) in net current assets.
All Proprietary Funds are accounted for on a flow of economic resources measurement focus. This
means that all assets and all liabilities (whether current or noncurrent) associated with this activity are
included on their balance sheets. Their reported fund equity (net total assets) is segregated into
contributed capital and retained earnings components. Proprietary fund type operating statements
present increases (revenues) and decreases (expenses) in net total assets.
The modified accrual basis of accounting is followed by the City for its Governmental Funds and
Fiduciary- Agency Funds. Under this method of accounting, revenues are recognized when they
become susceptible to accrual - that is, when they become both measurable and available to finance
expenditures of the fiscal period. "Measurable" means the amount of the transaction can be determined
and "available" means collectible within the current period or soon enough thereafter to be used to pay
liabilities of the current period. Major revenue sources susceptible to accrual include property taxes
(excluding delinquent taxes received over 60 days after year end), special assessments,
intergovernmental revenues, charges for services and interest on investments. Major revenue sources
not susceptible to accrual include licenses and permits, fees, and miscellaneous revenues. Such
revenues are recorded as revenue when received because they are not measurable until collected.
Expenditures are generally recognized in the accounting period when the fund liability is incurred,
except for interest on general long -term debt which is recognized when due.
The accrual basis of accounting is followed for the Proprietary Funds. Under this method of
accounting, revenues are recognized during the accounting period in which they are earned and become
measurable and expenses are recognized in the accounting period in which they are incurred if
measurable. Governmental Accounting Standards Board (GASB) Statement #20, Accounting and
Financial Reporting for Proprietary Funds and Other Governmental Entities that Use Proprietary
Funds, provides proprietary activities with a choice of authoritative guidance issued after
November 30, 1989. The City of Lino Lakes has elected to follow GASB pronouncements exclusively
after that date.
The City reports deferred revenue on its combined balance sheet. Deferred revenues arise when a
potential revenue does not meet both the "measurable" and "available" criteria for recognition in the
current period. Deferred revenues also arise when resources are received by the government before it
has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying
expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the
government has a legal claim to the resources, the liability for deferred revenue is removed from the
combined balance sheet and revenue is recognized.
The City has reported as deferred revenues the amount of $3,915,020, which consists of the following:
Property taxes receivable $ 64,611
Special assessments receivable 3,850,409
Total $ 3,915,020
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. BUDGETS
Budgets are adopted on a basis consistent with U.S. generally accepted accounting principles. Annual
appropriated budgets are adopted for the General Fund and the Program Recreation Special Revenue
Fund.
Budgeted amounts are reported as originally adopted, or as amended by the City Council. Individual
amendments were not material in relation to the original appropriations, which were adjusted.
Budgeted expenditure appropriations lapse at year end.
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the
expenditure of monies are recorded in order to reserve that portion of the appropriation, is not
employed by the City because it is not presently considered necessary to assure effective budgetary
control or to facilitate effective cash management.
Reconciliation of Budgetary Basis to GAAP Basis
Governmental funds presented on Statement 3 are the General Fund and the Program Recreation
Special Revenue Fund. The following is a reconciliation of fund balances on a budgetary basis as
presented on Statement 3, to the GAAP basis as presented on Statement 2:
Governmental Fund:
Fund Balance — Budgetary Basis
Fund Balances — Non - Budgeted Funds
Fund Balances — GAAP Basis
Special
Revenue
Funds
$ 27,630
$ 27,630
E. LEGAL COMPLIANCE - BUDGETS
The City follows these procedures in establishing the budgetary data reflected in the financial
statements:
1. The City Administrator submits to the City Council a proposed operating budget (including
the General Fund and Program Recreation Special Revenue Fund) for the fiscal year
commencing the following January 1. The operating budget includes proposed expenditures
and the means of financing them.
2. Public hearings are conducted to obtain taxpayer comments.
3. The budget is legally enacted through passage of a resolution on a departmental basis and can
be expended by each department based upon detailed budget estimates for individual
expenditure accounts.
4. The City Administrator is authorized to transfer appropriations within any department budget.
Additional interdepartmental or interfund appropriations and deletions are or may be
authorized by the City Council with fund (contingency) reserves or additional revenues.
5. Formal budgetary integration is employed as a management control device during the year for
the General Fund.
22
IMMIN
NINO
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
6. Legal debt obligation indentures determine the appropriation level and debt service tax levies
for the Debt Service Funds. Supplementary budgets are adopted for the Proprietary Funds to
determine and calculate user charges. These debt service and budget amounts represent
general obligation bond indenture provisions and net income for operation and capital
maintenance and are not reflected in the financial statements.
7. A capital improvement program is reviewed periodically by the City Council for the Capital
Project Funds. However, appropriations for major projects are not adopted until the actual bid
award of the improvement. The appropriations are not reflected in the financial statements.
8. Expenditures may not legally exceed budgeted appropriations at the total fund level.
Monitoring of budgets is maintained at the expenditure category level (i.e., personal services,
supplies; other services and charges; capital outlay) within each activity.
9. The City Council may authorize transfer of budgeted amounts between City funds.
F. CASH AND INVESTMENTS
Cash and investment balances from all funds are pooled and invested to the extent available in
investments authorized by Minnesota Statutes. Earnings from investments are allocated to individual
funds on the basis of the fund's equity in the cash and investment pool.
The City provides temporary advances to funds that have insufficient cash balances by means of an
advance from another fund shown as interfund receivables in the advancing fund, and an interfund
payable in the fund with the deficit, until adequate resources are received.
Investments are stated at fair value as of the balance sheet date. Interest earnings are accrued at the
balance sheet date.
For purposes of the statement of cash flows the Proprietary Fund considers all highly liquid investments
with a maturity of three months or less when purchased to be cash equivalents. All of the cash and
investments allocated to the proprietary fund types have original maturities of 90 days or less.
Therefore, the entire balance in such fund types is considered cash equivalents.
G. PROPERTY TAX CREDITS
Property taxes on homestead property (as defined by State Statutes) are partially reduced by property
tax credits. These credits are paid to the City by the State in lieu of taxes levied against homestead
property. The State remits these credits through installments each year. These credits are recognized
as revenue by the City at the time of collection.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
H. PROPERTY TAX REVENUE RECOGNITION
The City Council annually adopts a tax levy and certifies it to the County in December
(levy /assessment date) of each year for collection in the following year. The County is responsible for
billing and collecting all property taxes for itself, the City, the local School District and other taxing
authorities. Such taxes become a lien on January 1 and are recorded as receivables by the City at that
date. Real property taxes are payable (by property owners) on May 15 and October 15 of each
calendar year. Personal property taxes are payable by taxpayers on February 28 and June 30 of each
year. These taxes are collected by the County and remitted to the City on or before July 15 and
December 15 of the same year. Delinquent collections for November and December are received the
following January. The City has no ability to enforce payment of property taxes by property owners.
The County possesses this authority.
The City recognizes property tax revenue when it becomes both measurable and available to fmance
expenditures of the current period. In practice, current and delinquent taxes and State credits received
by the City in July, December and the following January are recognized as revenue for the current year.
Taxes and credits not received at the year end are classified as delinquent and due from County taxes
receivable. The portion of delinquent taxes not collected by the City in January is fully offset by
deferred revenue because it is not available to fmance current expenditures.
The City's property tax revenue includes payments from the Metropolitan Revenue Distribution (Fiscal
Disparities Formula) per State Statute 473F. This statute provides a means of spreading a portion of
the taxable valuation of commercial/industrial real property to various taxing authorities within the
defined metropolitan area. The valuation "shared" is a portion of commercial/industrial property
valuation growth since 1971. Property taxes paid to the City through this formula for 2002 totaled
$833,469. Receipt of property taxes from this "fiscal disparities pool" does not increase or decrease
total tax revenue.
I. SPECIAL ASSESSMENT REVENUE RECOGNITION
Special assessments are levied against benefited properties for the cost or a portion of the cost of
special assessment- improvement projects in accordance with State Statutes. These assessments are
collectible by the City over a term of years usually consistent with the term of the related bond issue.
Collection of annual installments (including interest) is handled by the County Auditor in the same
manner as property taxes. Property owners are allowed to (and often do) prepay future installments
without interest or prepayment penalties.
Revenue from special assessments is recognized by the City when it becomes measurable and available
to fmance expenditures of the current fiscal period. In practice, current and delinquent special
assessments received by the City are recognized as revenue for the current year. Special assessments
are collected by the County and remitted by December 31 (remitted to the City the following January)
and are also recognized as revenue for the current year. All remaining delinquent, deferred and special
deferred assessments receivable in governmental funding are completely offset by deferred revenues.
Once a special assessment roll is adopted, the amount attributed to each parcel is a lien upon that
property until full payment is made or the amount is determined to be excessive by the City Council or
court action. If special assessments are allowed to go delinquent, the property is subject to tax forfeit
sale and the first proceeds of that sale (after costs, penalties and expenses of sale) are remitted to the
City in payment of delinquent special assessments. Generally, the City will collect the full amount of
its special assessments not adjusted by City Council or court action. Pursuant to State Statutes, a
property shall be subject to a tax forfeit sale after three years unless it is homesteaded, agricultural or
seasonal recreational land in which event the property is subject to such sale after five years.
24
NNW
Mow
NMI
NNW
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
J. INVENTORIES
The original cost of materials and supplies has been recorded as expenditures /expenses at the time of
purchase of both the Governmental and Proprietary Funds. These funds do not maintain material
amounts of materials and supplies.
K. INTERFUND RECEIVABLES/PAYABLES
During the course of operations, numerous transactions occur between individual funds for goods
provided or services rendered. These receivables are classified as interfund receivables and payables
on the balance sheet. The non - current portion of interfund loans are reported as "advances to /from
other funds." Advances between funds are offset by a fund balance reserve account in applicable
governmental funds to indicate they are not available for appropriation and are not expendable
available financial resources.
L. LAND HELD FOR RESALE
These assets are recorded in the governmental fund, which purchased them at the lower of cost or
market.
M. FIXED ASSETS
GENERAL FIXED ASSETS
General fixed assets are recorded as expenditures of the Governmental Funds at the time of purchase.
Such assets are capitalized at historical cost or estimated historical cost in the General Fixed Asset
Account Group. Public Domain ( "infrastructure ") general fixed assets consisting of roads, bridges,
curbs, gutters, streets, sidewalks, drainage systems and lighting systems are excluded from general
fixed assets as these assets are immovable and of value only to the City. Gifts or contributions are
recorded in general fixed assets at fair market value at the time received. No depreciation has been
provided on general fixed assets.
PROPRIETARY FUNDS
Fixed assets of the Proprietary Funds are stated at historical cost, estimated historical cost, or m the
case of contributions, at fair market value at the time received. Depreciation has been provided using
the straight -line method over the estimated useful lives of assets, as follows:
Purchased Assets:
Water 5 -50 years
Sewer 5 -50 years
Contributed Assets:
Water 20 -50 years
Sewer 20 -50 years
Fixed assets of the water and sewer utility operations include the water distribution system and sewage
collection system. These systems have been wholly (or substantially) financed by non - operating funds
(special assessments, general taxes, federal and state grants, and other sources) and contributed to the
sewer and water operating funds.
25
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Depreciation on these assets is shown in the operating statements; however, the depreciation is
eventually transferred against the contribution account rather than retained earnings in accordance with
U.S. generally accepted accounting principles. Consequently, the contribution account reflects the net
book value of contributed assets rather than the original cost of such assets.
N. COMPENSATED ABSENCES
It is the City's policy to permit employees to accumulate earned but unused vacation and sick pay
benefits. Amounts that are expected to be liquidated with expendable available financial resources are
reported as an expenditure and a fund liability of the governmental fund that will pay it. Amounts that
are not expected to be liquidated with expendable available financial resources are reported in the
General Long -Term Debt Account Group. No expenditure is reported for these amounts. An unpaid
vacation and severance pay is payable when used or upon termination of employment. In addition, an
amount is recorded for those individuals not eligible for retirement at December 31, 2002, but for
whom a payout of the amount earned to that date is expected. In accordance with the provisions of
Statement of Government Accounting Standards No. 16, Accounting for Compensated Absences, a
liability is recorded for nonvesting accumulating rights to receive sick pay benefits. Sick leave is
payable when used and in some cases upon termination of employment. For several employees, sick
leave is payable upon retirement or termination in accordance with the terms of their employment
contracts. The remaining sick leave amounts are not recorded as liabilities because payment is not
probable.
O. LONG -TERM OBLIGATIONS
Long -term debt is recognized as a liability of a governmental fund when due, or when resources have
been accumulated in the Debt Service Fund for payment early in the following year. For other long-
term obligations, only that portion expected to be financed from expendable available financial
resources is reported as a fund liability of a governmental fund. The remaining portion of such
obligations is reported in the General Long -Term Debt Account Group. Long -term liabilities expected
to be financed from proprietary fund operations are accounted for in those funds.
P. FUND EQUITY
Contributed capital is recorded in Proprietary Funds that have received capital grants or contributions
from developers, customers or other funds. Reserves represent those portions of fund equity not
appropriable for expenditure or legally segregated for a specific future use. Designated fund balances
represent tentative plans for future use of financial resources.
Q. INTERFUND TRANSACTIONS
Quasi - external transactions are accounted for as revenues, expenditures or expenses. Transactions that
constitute reimbursements to a fund for expenditures /expenses initially made from it that are properly
applicable to another fund, are recorded as expenditures /expenses in the reimbursing fund and as
reductions of expenditures /expenses in the fund that is reimbursed.
All other interfund transactions, except quasi - external transactions and reimbursements, are reported as
transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity
transfers. During 2002, the City made a residual equity transfer to close a capital project fund. All
other interfund transfers are reported as operating transfers.
26
Wan
lam
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
R. MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the General Purpose Financial Statements are captioned "Memorandum Only" to
indicate that they are presented only to facilitate fmancial analysis. Data in these columns do not
present financial position, results of operations or changes in cash flows in conformity with U.S.
generally accepted accounting principles. Neither are such data comparable to a consolidation.
Interfund eliminations have not been made in the aggregation of this data.
Note 2 DEPOSITS AND INVESTMENTS
DEPOSITS
In accordance with Minnesota Statutes, the City maintains deposits at those depository banks
authorized by the City Council, all of which are members of the Federal Reserve System.
Minnesota Statutes require that all City deposits be protected by insurance, surety bond, or collateral.
The market value of collateral pledged must equal 110% of the deposits not covered by insurance or
bonds.
Authorized collateral includes the legal investments described below and certain other state or local
government obligations. Minnesota Statutes require that securities pledged as collateral be held in
safekeeping by the City Treasurer or in a financial institution other than that furnishing the collateral.
At year -end, the carrying amount of the City's deposits was $1,879,259 and the bank balance was
$1,875,631. The entire bank balance was covered by Federal depository insurance or by collateral held
by the City's agent in the City's name.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 2 DEPOSITS AND INVESTMENTS (CONTINUED)
INVESTMENTS
Minnesota Statutes authorize the City to invest in the following:
a) Direct obligations or obligations guaranteed by the United States or its agencies, its instrumentalities,
or organizations created by an act of congress, excluding mortgage- backed securities defined as high
risk.
b) Shares of investment companies registered under the Federal Investment Company Act of 1940 and
whose only investments are in securities described in (a) above, general obligation tax - exempt
securities, or repurchase or reverse repurchase agreements.
c) General obligations of the State of Minnesota or any of its municipalities.
d) Bankers acceptance of United States banks eligible for purchase by the Federal Reserve System.
e) Commercial paper issued by United States corporations or their Canadian subsidiaries, of the
highest quality, and maturing in 270 days or less.
f) Repurchase or reverse repurchase agreements with banks that are members of the Federal Reserve
System with capitalization exceeding $10,000,000; a primary reporting dealer in U.S. government
securities to the Federal Reserve Bank of New York; certain Minnesota securities broker - dealers;
or, a bank qualified as a depositor.
Cash and Investment balances as of December 31, 2002 are as follows:
Custodial Credit Risk Category
Security Type 1 2 3 Fair Value
U.S. Government & Agency Securities $ 3,716,743 $ $ $ 3,716,743
Commercial Paper 2,187,480 2,187,480
Municipal Bonds 469,450 469,450
Negotiable Certificates of Deposit 4,670,128 4,670,128
Totals $ 11,043,801 $ $ $ 11,043,801
Investment not subject to categorization:
Mutual Funds 1,701,227
Money Market Funds 1,064,755
Total Investments 13,809,783
Deposits 1,879,259
Cash on Hand 820
Total Deposits, Investments and cash on hand $ 15,689,862
A reconciliation of cash and investment as shown on the combined balance sheet is as follows:
Cash and investments
Cash and investments with escrow agent
28
1 5,197,401
492,461
15,689,862
MIER
MOW
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 2 DEPOSITS AND INVESTMENTS (CONTINUED)
• The City's investments are categorized above to give an indication of the level of custodial credit risk
assumed at year -end. Category 1 includes investments that are insured or registered or for which the
securities are held by the City or its agent in the City's name. Category 2 includes uninsured or
unregistered investments for which the securities are held by the counterparty's trust depaitnient or
agent in the City's name. Category 3 includes uninsured and unregistered investments for which the
securities are held by the counterparty or by its trust depaitment or agent but not in the City's name.
Cash and investments with escrow agent consist of undisbursed proceeds of the Public Project Bonds
of 1999C and the Lease Revenue Bonds of 1998 which are restricted for the payment of debt associated
with the City's fire station and the payment for construction and capitalized interest costs of the Civic
Complex, respectively.
Note 3 FIXED ASSETS
A summary of changes in general fixed assets is as follows:
Land and Improvements
Buildings
Equipment and Furniture
Other
Vehicles
Machinery/Shop Equipment
Balance Balance
1/1/02 12/31/02
$ 3,106,089 $ 7,400 $ 3,113,489
6,446,405 24,525 6,470,930
1,046,189 117,170 1,153,205
720,879 249,814 970,693
1,217,214 153,708 1,272,159
577,136 85,404 662,540
$ 13,113,912 $ 638,021 $ 108,917 $ 13,643,016
Additions Deletions
A summary of Proprietary Fund fixed assets at December 31, 2002 is as follows:
Building and Structures
Machinery and Equipment
Water and Sewer Lines
Total
Less: Accumulated Depreciation
Net Fixed Assets
Water
10,154
98,763
Sewer Total
$ 48,690 $
122,821
14,639,340
14,810,851
(2,255,819)
$ 12,555,032
169,675
16,455,893
16,625,568
(2,699,845)
13,925,723
$ 48,690
292,496
31,095,233
31,436,419
(4,955,664)
$ 26,480,755
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 4 CITY INDEBTEDNESS
The following is a schedule of changes in City indebtedness for the year ended December 31, 2002:
Balance Balance
1/1/02 Issues Payments 12/31/02
General Long Term Debt Account Group:
Bonded debt:
General obligation $ 6,686,430 $ 140,000 $ 581,980 $ 6,244,450
Special assessment 10,195,000 2,755,000 1,310,000 11,640,000
Contracts for deed payable 959,352 - 959,352 0
Compensated absences payable — net 344,844 39,623 - 384,467
Total general long term debt 18,185,626 2,934,623 2,851,332 18,268,917
Proprietary Fund:
Revenue bond 3,465,000 245,000 3,220,000
Compensated absences -net 29,010 390 29,400
Total $ 21,679,636 $ 2,935,013 $ 3,096,332 $ 21,518,317
All long -term bonded indebtedness outstanding at December 31, 2002 is backed by the full faith and credit of
the City, including special assessment bond issues. Delinquent special assessments receivable at December 31,
2002 totaled $36,584.
The annual requirement to amortize all debt outstanding at December 31, 2002 including interest payments of
$6,615,047 is as follows:
2003 2004 2005 2006
General Obligation Bonds $ 864,006 $ 727,409 $ 605,299 $ 558,394 $
Special Assessment Bonds 1,602,414 1,880,420 1,837,848 1,773,426
Revenue Bonds 412,189 415,091 416,990 417,868
2007 ._
and on
6,258,341 $
7,446,115
2,503,687
Total $ 2,878,609 $ 3,022,920 $ 2,860,137 $ 2,749,688 $
16,208,143 $
Total
9,013,449
14,540,223
4,165,825
27,719,497
It is not practicable to determine the specific year for payment of compensated absences payable. Accordingly,
they have been excluded from the above schedule of annual requirements to amortize debt.
OMNI
30
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 4 CITY INDEBTEDNESS (CONTINUED?
City indebtedness at December 31, 2002 is composed of the following:
Final
Issue Maturity Interest Original Payable
Date Date Rate Issue 12/31/2002
General Obligation Bonds:
2000 Equipment Certificates 2/1/2000 12/31/2003 6.00% 325,450 108,450
2001 Equipment Certificates 2/1/2001 12/31/2004 6.00% 332,030 221,000
2002 Equipment Certificates 2/1/2002 12/31/2005 6.00% 140,000 140,000
Civic Complex Lease Rev. Bonds - 98A 8/1/1998 2/1/2019 4.20 % -5.35% 5,350,000 5,010,000
Public Project Revenue Ref. Bonds - 99C 9/1/1999 2/1/2010 4.75 % -5.10% 980,000 765,000
+- Total General Obligation Bonds 7,127,480 6,244,450
Special Assessment Bonds:
G.O. Improvement Refunding Bonds, 10/1/1996 2/1/2007 4.20 % -5.20% 4,685,000 1,975,000
Series 1996A
G.O. Improvement Refunding Bonds, 8/1/1998 2/1/2015 4.50 % -4.90% 4,310,000 3,730,000
Serie 1998A
G.O. Improvement Refunding Bonds, 8/1/1998 2/1/2015 4.50 % -4.90% 2,000,000 1,775,000
Series 1998B
G.O. Improvement Refunding Bonds, 9/1/1999 2/1/2006 4.25 % -4.70% 1,725,000 1,405,000
Series 1999A
G.O. Improvement Bonds, 8/1/2002 2/1/2013 3.00 % -4.10% 645,000 645,000
Series 2002A
G.O. Improvement Bonds, 8/1/2002 2/1/2013 3.20 % -5.55% 2,110,000 2,110,000
Series 2002B
Total Special Assessment Bonds 15,475,000 11,640,000
Revenue Bonds:
G.O. Water Revenue Bonds, 10/1/1996 2/1/2012 4.10 % -5.70% 3,320,000 2,625,000
Series 1996B
G.O. Water Revenue Bonds, 9/1/1999 2/1/2008 4.25 % -4.90% 680,000 595,000
Series 1999B
Total Revenue Bonds 4,000,000 3,220,000
Total - All Bonds 26,602,480 21,104,450
Compensated Absences Payable N/A 413,867
Total lndebtedness $ 26,602,480 $ 21,518,317
Description and Restrictions of Long -Term Debt
General Obligation Bonds — The bonds were issued for improvements or projects which benefited the City as a
whole and are, therefore, repaid from ad valorem levies.
Special Assessment Bonds — These bonds were issued to finance various improvements and will be repaid
primarily from special assessments levied on the properties benefiting from the improvements. However, some
issues are partly financed by ad valorem levies.
31
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 4 CITY INDEBTEDNESS (CONTINUED)
Public Project Revenue Bonds and Civic Complex Lease Revenue Bonds — These bonds were issued by the
Economic Development Authority (EDA) of Lino Lakes for the purpose of financing the construction of public
facilities. Pursuant to Minnesota Statutes and a lease purchase contract between the EDA and the City of Lino
Lakes, a Trust Indenture between the EDA and a regional bank has been established for the purpose of financing
payment of these bonds. The City has pledged rental payments in amounts equal to the debt service
requirements and plans to annually appropriate City funds available for this purpose. As required by bond
covenant, a reserve account has been established with a trustee, which is to be used to pay principal and interest
on the bonds in the event that other available resources are inadequate to do so.
Through the transactions described above, the City (Primary Government) has, in substance, assumed the debt
service on the revenue bonds issued by the EDA. Therefore, the bonds have been included in the Primary
Government's General Long -Term Debt Account Group. Further, the lease payment made by the City will be
reflected as debt service principal and interest payments on the City's operating statements.
Liability for Compensated Absences — This liability represents vested benefits earned by governmental fund
employees through the end of the year which will be paid or used in future periods. The liability for Proprietary
Fund employees is included in the accrued liabilities of those funds.
32
OMB
RION
two
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 5 LEGAL DEBT MARGIN
The City is subject to a statutory limitation by the State of Minnesota for bonded indebtedness payable
principally from property taxes. The City of Lino Lake's legal debt margin for 2002 and 2001 is computed as
follows:
December 31,
2002 2001
— Market value 1,034,432,100 903,685,700
Applicable percentage 2 % 2 %
Debt Limit 20,688,642 18,073,714
IMMO
UMW
Now
two
Amount of debt applicable to debt limit:
Total bonded debt 21,104,450 20,346,430
Less: Special assessment bonds (11,640,000) (10,195,000)
Public project revenue bonds (765,000) (850,000)
Revenue bonds (3,220,000) (3,465,000)
Total debt applicable to debt limit 5,479,450 5,836,430
Legal debt margin 15,209,192 12,237,284
Note 6 DEFINED BENEFIT PENSION PLANS - STATEWIDE
A. PLAN DESCRIPTION
All full -time and certain part-time employees of the City of Lino Lakes are covered by defined benefit
plans administered by the Public Employees Retirement Association of Minnesota (PERA). PERA
administers the Public Employees Retirement Fund (PERF) and the Public Employees Police and Fire
Fund (PEPFF) which are cost - sharing, multiple - employer retirement plans. These plans are established
and administered in accordance with Minnesota Statute, Chapters 353 and 356.
PERF members belong to either the Coordinated Plan or the Basic Plan. Coordinated Plan members
are covered by Social Security and Basic Plan members are not. All new members must participate in
the Coordinated Plan. All police officers, firefighters and peace officers who qualify for membership
by statute are covered by the PEPFF.
PERA provides retirement benefits as well as disability benefits to members, and benefits to survivors
upon death of eligible members. Benefits are established by State Statute, and vest after three years of
credited service. The defined retirement benefits are based on a member's highest average salary for
any five successive years of allowable service, age, and years of credit at termination of service.
Two methods are used to compute benefits for PERF's Coordinated and Basic Plan members. The
retiring member receives the higher of a step -rate benefit accrual formula (Method 1) or a level accrual
formula (Method 2). Under Method 1, the annuity accrual rate for a Basic Plan member is 2.2 percent
of average salary for each of the first 10 years and 2.7 percent for each remaining year. For a
Coordinated Plan member is 1.2 percent of average salary for each of the first 10 years and 1.7 percent
for each remaining year.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 6
DEFINED BENEFIT PENSION PLANS — STATEWIDE (CONTINUED)
Under Method 2, the annuity accrual rate is 2.7 percent of average salary for Basic Plan members and
1.7 percent for Coordinated Plan members for each year of service. For PEPFF members, the annuity
accrual rate is 3.0 percent for each year of service. For all PEPFF members and for PERF members
whose annuity is calculated using Method 1, a full annuity is available when age plus years of service
equal 90. A reduced retirement annuity is also available to eligible members seeking early retirement.
There are different types of annuities available to members upon retirement. A normal annuity is a
lifetime annuity that ceases upon the death of the retiree - -no survivor annuity is payable. There are also
various types of joint and survivor annuity options available which will reduce the monthly normal
annuity amount, because the annuity is payable over joint lives. Members may also leave their
contributions in the fund upon termination of public service in order to qualify for a deferred annuity at
retirement age. Refunds of contributions are available at any time to members who leave public
service, but before retirement benefits begin.
The benefit provisions stated in the previous paragraphs of this section are current provisions and apply
to active plan participants. Vested, terminated employees who are entitled to benefits but are not
receiving them yet, are bound by the provisions in effect at the time they last terminated their public
service.
PERA issues a publicly available financial report that includes financial statements and required
supplementary information for PERF and PEPFF. That report may be obtained by writing to PERA, 60
Empire Drive #200, St. Paul, Minnesota, 55102 or by calling (651) 296 -7460 or 1- 800 - 652 -9026.
B. FUNDING POLICY —
Minnesota Statutes Chapter 353 sets the rates for employer and employee contributions. These statutes
are established and amended by the state legislature. The City makes annual contributions to the
pension plans equal to the amount required by state statutes. PERF Basic Plan members and
Coordinated Plan members are required to contribute 8.75% and 4.75 %, respectively, of their annual
covered salary. PEPFF members are required to contribute 6.20% of their annual covered salary.
The City of Lino Lakes is required to contribute the following percentages of annual covered payroll:
11.78% for Basic Plan PERF members, 5.53% for Coordinated Plan PERF members, and 9.30% for
PEPFF members. The City's contributions to the Public Employees Retirement Fund for the years
ending December 31, 2002, 2001, and 2000 were $120,190, $112,960, and $98,206, respectively. The
City's contributions to the Public Employees Police & Fire Fund for the years ending December 31,
2002, 2001, 2000 were $ 119,927, $105,655, and $109,049, respectively. The City's contributions
were equal to the contractually required contributions for each year as set by state statute.
34
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 7 METROPOLITAN COUNCIL ENVIRONMENTAL SERVICES
'— During 1971, the Metropolitan Waste Control Commission (MWCC) was organized to provide for consolidation
of the sanitary sewer collection, treatment and disposal in the seven county metropolitan area surrounding
Minneapolis and St. Paul. Previously, these operations were maintained by the city governments on an
individual or collective basis. The MWCC merged with the Metropolitan Council during 1994 to form
Metropolitan Council Wastewater Services (MCWS) and is now called the Metropolitan Council Environmental
Services (MCES). The MCES bills the City annually based upon estimated volume and budgeted costs. The
City follows the accounting policy of recognizing these charges as an expense of the sewer utility operation in
the year for which they are billed.
NNW
Note 8 RECONCILIATION OF CONTRIBUTED CAPITAL
Changes to contributed capital during the year are as follows:
Water
Sewer
Total
Depreciation
Beginning Capital on Contributed
Balance Contributions Assets
$ 9,337,506 $ $ (216,485)
14,142,819 - (328,417)
$ 23,480,325 $ $ (544,902)
Note 9 SEGMENT INFORMATION
Ending
Balance
$ 9,121,021
13,814,402
$ 22,935,423
The City actively maintains two Enterprise Funds, which provide water and sanitary sewer services. Segment
information for the year ended December 31, 2002 is as follows:
Operating revenue
Depreciation expense
Operating income (loss)
Property, plant, and
equipment additions
Capital Contributions
Net income (loss)
Operating transfers in
Net property, plant
and equipment
Net working capital
Total assets
Bonds payable
Total equity
Water
Utility
$ 777,978
300,863
(133,636)
Sewer
Utility
$ 1,112,809
345,098
122,645
93,217 39,174
(35,939) 191,997
304,075
12,555,032
367,211
13,481,609
3,220,000
10,128,680
13,925,723
1,969,027
15,913,138
15,880,050
Totals
2002
$ 1,890,787
645,961
(10,991)
132,391
156,058
304,075
26,480,755
2,336,238
29,394,747
3,220,000
26,008,730
2001
$ 1,877,926
632,563
161,335
4,148
882,235
347,536
307,650
26,994,325
1,820,059
29,474,388
3,465,000
25,852,672
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 10 STEWARDSHIP COMPLIANCE AND ACCOUNTABILITY
Deficit Fund Balances
The City has deficit fund balances at December 31, 2002 as follows:
Fund Balance
Deficit
Debt Service Funds:
Improvement Bonds of 1996A 521,668
Improvement Bonds of 1998A 91,275
Capital Project Funds:
Dedicated Parks 740,518
MSA Construction 364,332
1997 Construction 698,540
1998 Construction 2,662,115
Town Center Project 1,081,320
Tax Increment Financing 1 -6 26,695
Tax Increment Financing 1 -8 14,428
The City intends to fund these deficits through future tax levies, special assessment levies, tax increments,
transfers from other funds, and various other sources.
Expenditures in Excess of Budget
Revenues and expenditures exceeded 2002 budgets in the following fund:
Budget Actual
Program Recreation
$ 226,351 $ 255,528
Note 11 CONTINGENCIES
Litigation - The City attorney has indicated that existing and pending lawsuits, claims and other actions in which
the City is a defendant are either covered by insurance; of an immaterial amount; or, in the judgment of the City
attorney, remotely recoverable by plaintiffs.
Federal and State Funds - The City receives financial assistance from federal and state governmental agencies in
the form of grants. The disbursement of funds received under these programs generally requires compliance
with the terms and conditions specified in the grant agreements and is subject to audit by the grantor agencies.
Any disallowed claims resulting from such audits could become a liability of the applicable fund. However, in
the opinion of management, any such disallowed claims will not have a material effect on any of the financial
statements of the individual fund types included herein or on the overall financial position of the City at
December 31, 2002.
36
Now
WINO
Oim
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 12 DEFERRED AD VALOREM TAX LEVIES - BONDED DEBT
General Obligation bond issues sold by the City are financed by ad valorem tax levies and special assessment
bond issues sold by the City are partially financed by ad valorem tax levies in addition to special assessments
levied against the benefiting properties. When a bond issue to be financed partially or completely by ad valorem
tax levies is sold, specific annual amounts of such tax levies are stated in the bond resolution and the County
Auditor is notified and instructed to levy these taxes over the appropriate years. The future tax levies are subject
to cancellation when and if the City has provided alternative sources of financing. The City Council is required
to levy any additional taxes found necessary for full payment of principal and interest.
These future scheduled tax levies are not shown as assets in the accompanying financial statements at
December 31, 2002 and 2001.
Future scheduled tax levies for all bonds outstanding at December 31, 2002 totaled $11,167,985.
Note 13 DESIGNATIONS AND RESERVATIONS OF FUND EQUITY
At December 31, 2002 and 2001, the City had designated and reserved portions of its various fund equities
through legal restriction and City Council authorization. Major fund equity appropriations at December 31,
2002 and 2001 are shown on the various balance sheets as segregations of the fund equity. A summary of such
designations is as follows:
December 31,
2002 2001
General Fund:
Reserve for prepaid items $ 120,727 $ 105,969
Designated for cash flow reserve 4,232,291 3,818,700
Special Revenue Fund:
Reserve for prepaid items 2,430 1,551
Designated for recreation programs 25,200 41,195
Debt Service Funds:
Reserved for debt retirement 1,818,859 1,768,402
Capital Project Funds:
Reserved for Advance to Other Funds 957,111 853,917
Reserved for land held for resale 989,506 989,506
Designated for capital improvements 10,756,007 10,146,843
Enterprise Funds:
Reserved for Equipment Replacement 1,053,159 474,423
Totals $ 19,955,290 $ 18,200,506
Note 14 SHARE IN GAS FRANCHISE PROFITS
The City receives a share of the gross billing for natural gas sales by a neighboring City, which provides service
within the City of Lino Lakes. The amount reported as revenue in the General Fund was $74,650 for 2002.
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 15 INTERFUND RECEIVABLE AND PAYABLES
Individual fund receivable and payable balances at December 31, 2002 are as follows:
Fund
Receivable Payable
Debt Service Fund:
Improvement Bonds of 1996A '$ $ 478,023
Improvement Bonds of 1998A 92,504
Capital Project Funds:
Area and Unit Charge 7,097,332
MSA Construction 308,820
1997 Construction 1,376,888
1998 Construction 2,662,115
Town Center Project 2,070,826
Tax Increment Financing District 1 -6 26,371
Tax Increment Financing District 1 -8 8,595
Agency Fund:
Investment Fund - 73,190
$ 7,097,332 $ 7,097,332
Advances to /from Other Funds
Dedicated Parks $ $ 957,111
Areas and Unit Charges 957,111
$ 957,111 $ 957,111
Note 16 RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors
and omissions; injuries to employees; and natural disasters.
Workers compensation coverage is provided through a pooled self - insurance program through the League of
Minnesota Cities Insurance Trust (LMCIT). The City pays an annual premium to LMCIT. The City is subject
to supplemental assessments if deemed necessary by the LMCIT. The LMCIT reinsures through Workers
Compensation Reinsurance Association (WCRA) as required by law. For workers compensation, the City is not
subject to a deductible. The City's workers compensation coverage is retrospectively rated. With this type of
coverage, final premiums are determined after loss experience is known. The amount of premium adjustment, if
any, is considered immaterial and not recorded until received or paid.
Property and casualty insurance is provided through a pooled self - insurance program through the LMCIT. The
City pays an annual premium to the LMCIT. The City is subject to supplemental assessments if deemed
necessary by the LMCIT. The LMCIT reinsures through commercial companies for claims in excess of various
amounts. The City retains risk for the deductible portion of the insurance policies and for any exclusions from
the insurance policies. These amounts are considered immaterial to the financial statements.
38
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 16 RISK MANAGEMENT (CONTINUED)
The City continues to carry commercial insurance for all other risks of loss, including disability and employee
health insurance.
There were no significant reductions in insurance from the previous year or settlements in excess of insurance
coverage for any of the past three fiscal years.
Note 17 CONDUIT DEBT OBLIGATIONS
The City has issued Industrial Development Revenue Bonds to provide financial assistance to private- sector
entities for the acquisition and construction of industrial and commercial facilities which are deemed to be in the
public interest. The bonds are secured by the property financed and are payable solely from payments on the
underlying mortgage loans. Upon repayment of the bonds, ownership of the acquired facilities transfers to the
private sector entity served by the bond issue. The City is not obligated in any manner for the repayment of the
bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. As of
December 31, 2002, two series of Industrial Revenue Bonds were outstanding with aggregate remaining
principal balances of $2,190,000 and S4,000,000, respectively.
ammo Note 18 LEASE COMMITMENT
aim
MINN
The City of Lino Lakes entered into a lease agreement dated December 8, 1997 whereby the City constructed a
facility on property it already owned. Upon completion, this facility was leased to the Independent School
District No. 12 (ISD 12), the tenant, in January 1999 and will continue until June 30, 2009. The tenant's
payments are $110 per square foot per year for a total of $1,200,000 over the term of the lease. The schedule of
remaining payments is as follows:
2003 $ 112,500
2004 112,500
2005 112,500
2006 112,500
2007 112,500
Thereafter 187,500
$ 750,000
CITY OF LINO LAKES, MINNESOTA
NOTES TO FINANCIAL STATEMENTS
December 31, 2002
Note 19 JOINT FIRE VENTURE
The Centennial Fire District (the District) was established under a joint powers agreement between the City of
Lino Lakes and two other cities. The general purpose of the District is to provide fire protection services
including, but not limited to, fire prevention, firefighting and rescue service. Each member city is entitled to
appoint two commissioners to the District's Board.
Each calendar year participating cities are to pay the District its share of the total operating and capital budget in
accordance with a funding formula contained in Section VII of the joint powers agreement. The funding
formula takes into account each city's average number of calls, population, and total market value.
During 2002, the City of Lino Lakes' contributions to the District were as follows:
Operating $ 340,409
Capital 66,300
$ 406,709
Separate financial statements of the District can be obtained by contacting the Centennial Fire District.
The audited condensed financial statements of the District as of December 31, 2002 are as follows:
Total assets $ 891,465
Total liabilities 82,407
Total net assets 809,058
Total operating revenue 682,324
Total operating expenses 882,956
40
COMBINING, INDIVIDUAL FUND AND
ACCOUNT GROUP
FINANCIAL STATEMENTS
GENERAL FUND
The General fund accounts for all financial resources except those required to be accounted for in
another fund.
limo
lima
—
CITY OF LINO LAKES, MINNESOTA Statement 6
GENERAL FUND
BALANCE SHEET
December 31, 2002
With Comparative Amounts At December 31, 2001
Assets
Cash and investments
Accounts receivable
Due from other govemmental units
— Taxes receivable:
Delinquent
Due from County
▪ Prepaid items
Total assets
Liabilities and Fund Balance
2002 2001
$ 4,311,947
123,781
113,796
50,745
89,704
120,727
$ 4,810,700
$ 4,005,214
87,151
106,699
48,242
86,290
105,969
$ 4,439,565
Liabilities:
— Accounts payable $ 170,217 $ 303,835
Salaries payable 235,645 154,520
Due to other governmental units 1,075 7,741
— Deferred revenue 50,745 48,800
Total liabilities 457,682 514,896
- Total fund balance
Fund balance:
Reserved for prepaid items
Unreserved:
Designated for cash flow reserve
Total liabilities and fund balance
limow
41
120,727 105,969
4,232,291 3,818,700
4,353,018 3,924,669
4,810,700 $ 4,439,565
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For the Year Ended December 31, 2002
(With Comparative Amounts For The Year Ended December 31, 2001)
Statement 7
Page 1 of 6
2002
Over (Under)
Budget Actual Budget
2001
Actual
Revenue:
General property taxes:
Current and delinquent $ 4,894,509 $ 3,840;202 $ (1,054,307) $ 3,516,629
Fiscal disparities 689,903 689,903 586,755
Excess tax increments 7,000 13,001 6,001 21,880
Total general property taxes 4,901,509 4,543,106 (358,403) 4,125,264
Licenses and permits:
Non - business 695,500 879,460 183,960 985,873
Business 31,025 34,038 3,013 30,583
Total licenses and permits 726,525 913,498 186,973 1,016,456
Intergovernmental:
Federal:
Other 48,838 38,018 (10,820) 64,900
State:
Local Government Aid 157,715 157,715
Market Value Credit - 361,565 361,565
Mobile home homestead credit - - 3,470
Police state aid 120,000 121,538 1,538 120,032
MSA maintenance 150,000 159,884 9,884 144,216
Other 30,000 15,028 (14,972) 16,595
County/Regional:
Solid waste 35,000 34,666 (334) 40,959
Other 4,000 5,447 1,447 19,435
Total intergovemmental 545,553 893,861 348,308 409,607
Special Assessments:
Penalties and Interest - 5,526 5,526 4,835
Charges for services:
General government 32,500 30,884 (1,616) 28,577
Planning/engineering 25,000 11,582 (13,418) 13,402
Fees retained from collection for
other governments - SAC /surcharge 4,000 4,360 360 5,155
Administrative charge - other funds 87,500 50,695 (36,805) 130,723
Aerial map charge - other funds 15,000 14,220 (780) 16,650
Public safety 66,000 84,610 18,610 84,356
Total charges for services 230,000 196,351 (33,649) 278,863
Fines and forfeits 100,000 100,393 393 101,559
Investment earnings 85,000 74,118 (10,882) 95,004
Refunds and reimbursements 45,000 31,749 (13,251) 46,677
Miscellaneous:
Gas franchise fees 50,000 74,650 24,650 56,600
Cable TV 35,000 5,737 (29,263) 30,840
Sale of property 19,102
Donations 5,000 2,370 (2,630) 8,560
Other - 61 61 467
Total miscellaneous 90,000 82,818 (7,182) 115,569
Total revenue
6,723,587 6,841,420 117,833 6,193,834
42
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For the Year Ended December 31, 2002
(With Comparative Amounts For The Year Ended December 31, 2001)
Statement 7
Page 2 of 6
2002
Over (Under)
Budget Actual Budget
2001
Actual
Expenditures:
General government:
Mayor and council:
Current
Personal services $ 38,492 $ 33,083 $ (5,409) $ 35,203
Supplies 400 68 (332) 369
Other services and charges 44,200 38,240 (5,960) 43,206
Contractual Services 24,371 25,302 931 24,299
Total mayor and council 107,463 96,693 (10,770) 103,077
Elections:
Current
Personal services 23,050 22,735 (315) 3,931
Supplies 500 887 387 29
- Other services and charges 3,500 467 (3,033) 1,340
Contractual Services 2,000 - (2,000) -
Capital outlay 6,000 10,708 4,708
Total elections 35,050 34,797 (253) 5,300
Administration:
Current
Personal services 365,185 367,007 1,822 319,110
Supplies - 285
■ Other services and charges 22,525 17,089 (5,436) 23,955
Contractual Services 5,800 8,320 2,520 1,580
Capital outlay 900 1,159 259 -
Total administration 394,410 393,575 (835) 344,930
. - Finance:
Current
Personal services 242,427 235,099 (7,328) 229,568
Supplies 2,100 1,180 (920) 2,465
+- Other services and charges 31,900 22,017 (9,883) 21,205
Contractual Services 62,800 67,119 4,319 61,786
Capital outlay 20,000 - (20,000) -
Total finance 359,227 325,415 (33,812) 315,024
Cable TV:
Current
Personal services 3,024 1,807 (1,217) 2,486
Supplies 100 (100)
Capital outlay 500 (500)
Total cable TV 3,624 1,807 (1,817) 2,486
Consultants:
Current
Legal 137,500 144,922 7,422 143,762
Community Development:
Current
Personal services 140,824 138,530 (2,294) 100,477
. -
Supplies 300 187 (113)
Other services and charges 7,225 2,804 (4,421) 1,053
Contractual Services 600 - (600) 363
Capital outlay 1,200 1,200 -
150,149 142,721 (7,428) 101,893
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For the Year Ended December 31, 2002
(With Comparative Amounts For The Year Ended December 31, 2001)
Statement 7
Page 3 of 6
2002
Over (Under) 2001
Budget Actual Budget Actual
General govemment: (continued)
Economic Development:
Current
Personal services $ 67,256 $ 64,371 $ (2,885) $ 127,573
Supplies 800 106 (694) 215
Other services and charges 17,500 1,606 (15,894) 26,583
Contractual services 22,700 9,604 (13,096) 690
Capital outlay 500 462 (38) -
Total economic development 108,756 76,149 (32,607) 155,061
Planning and zoning commission:
Current
Personal services 137,340 123,031 (14,309) 110,431
Supplies 300 28 (272) 214
Other services and charges 62,750 61,783 (967) 17,188
Contractual services 6,920 4,608 (2,312) 18,041
Total planning and zoning commission 207,310 189,450 (17,860) 145,874
Engineering/planning:
Current
Contractual services 190,000 144,133 (45,867) 173,204
Total engineering/planning 190,000 144,133 (45,867) 173,204
Senior Service
Current
Personal services 25,972 27,439 1,467 25,293
Other services and charges 775 1,135 360 954
Capital outlay 1,500 1,772 272
Total charter commission 28,247 30,346 2,099 26,247
Charter commission:
Current
Other services and charges 3,600 594 (3,006) 836
Total charter commission 3,600 594 (3,006) 836
General government buildings:
Current
Personal services 66,031 75,509 9,478 68,727
Supplies 39,000 44,424 5,424 35,682
Other services and charges 227,850 237,921 10,071 208,005
Contractual services 30,000 28,256 (1,744) 24,811
Capital outlay 20,000 15,384 (4,616) 16,696
Total general government buildings 382,881 401,494 18,613 353,921
Total general government
2,108,217 1,982,096
44
(126,121) 1,871,615
CITY OF LINO LAKES, MINNESOTA Statement 7
' GENERAL FUND Page 4 of 6
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For the Year Ended December 31, 2002
(With Comparative Amounts For The Year Ended December 31, 2001)
2002
Over (Under)
Budget Actual Budget
2001
Actual
Public safety:
Police:
Current
Personal services $ 1,765,494 $ 1,702,490 $ (63,004) $ 1,569,394
Supplies 29,213 35,766 6,553 20,868
Other services and charges 69,240 72,732 3,492 64,116
.-' Contractual services 44,144 22,564 (21,580) 30,957
Capital outlay 33,914 54,704 20,790 33,214
Total police 1,942,005 1,888,256 (53,749) 1,718,549
Fire protection:
Current
Contractual services 340,409 340,409 308,236
Building inspection:
_ Current
Personal services 229,011 223,044 (5,967) 175,309
Supplies 520 950 430 52
Other services and charges 5,585 8,415 2,830 7,032
Contractual services 31,350 56,634 25,284 36,968
Capital outlay 1,750 1,444 (306) -
Total building inspection 268,216 290,487 22,271 219,361
Total public safety 2,550,630 2,519,152 (31,478) 2,246,146
Public works:
Streets:
.� Current
Personal services
Supplies
Other services and charges
Contractual services
Total streets
383,206
116,000
66,700
105,300
671,206
362,178
117,143
57,246
82,910
619,477
(21,028)
1,143
(9,454)
(22,390)
(51,729)
349,537
1 19,374
69,880
89,206
627,997
Fleet:
Current
... Personal services 87,055 82,279 (4,776) 73,263
Supplies 139,450 130,321 (9,129) 120,946
Other services and charges 35,950 40,116 4,166 46,065
Contractual services - - 18
Capital outlay 150,000 - (150,000)
Total fleet 412,455 252,716 (159,739) 240,292
Total public works
1,083,661 872,193
(211,468) 868,289
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For the Year Ended December 31, 2002
(With Comparative Amounts For The Year Ended December 31, 2001)
Statement 7
Page 5of6
2002
Over (Under)
Budget Actual Budget
2001
Actual
Parks and recreation:
Parks:
Current
Personal services $ 375,144 $ 371,312 $ (3,832) $ 346,473
Supplies 49,000 37,359 (11,641) 36,975
Other services and charges 45,060 35,511 (9,549) 31,228
Contractual services 13,350 19,873 6,523 21,182
Capital outlay 25,000 - (25,000) -
Total parks 507,554 464,055 (43,499) 435,858
Recreation:
Current
Personal services 231,117 218,060 (13,057) 209,464
Supplies 3,000 2,805 (195) 3,062
Other services and charges 20,700 10,445 (10,255) 9,286
Contractual services 4,890 1,146 (3,744) 5,690
Total recreation 259,707 232,456 (27,251) 227,502
Total parks and recreation
767,261 696,511
(70,750) 663,360
Conservation of natural resources:
Forestry:
Current
Personal services 37,963 34,201 (3,762) 32,887
Supplies 2,100 95 (2,005) 368
Other services and charges 850 (850) 480
Contractual services 8,350 8,401 51 39,214
Capital outlay 25,000 10,610 (14,390) 16,413
Total forestry 74,263 53,307 (20,956) 89,362
Environmental:
Current
Personal services 37,963 33,936 (4,027) 32,457
Supplies 2,300 539 (1,761) 434
Other services and charges 10,875 4,075 (6,800) 6,008
Contractual services 6,400 4,432 (1,968) 2,235
Total environmental 57,538 42,982 (14,556) 41,134
46
CITY OF LINO LAKES, NIINNESOTA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For the Year Ended December 31, 2002
(With Comparative Amounts For The Year Ended December 31, 2001)
Statement 7
Page 6 of 6
2002
.- Over (Under) 2001
Budget Actual Budget Actual
Conservation of natural resources: (continued)
Solid waste abatement:
Current
Personal services $ 8,674 $ 9,870 1,196 $ 9,125
Supplies 200 66 (134) 99
Other services and charges 2,200 203 (1,997) 260
Contractual services 15,200 16,062 862 16,032
Capital outlay 5,000 - (5,000) 2,843
Total solid waste abatement 31,274 26,201 (5,073) 28,359
Total conservation of natural resources 163,075 122,490 (40,585) 158,855
Other
Contingency 79,109 21,203 (57,906)
Total expenditures 6,751,953 6,213,645 (538,308) 5,808,265
Revenue over expenditures (28,366) 627,775 656,141 385,569
Other financing sources (uses):
Operating transfer from Special Revenue Fund 395 395
Operating transfer to Special Revenue Fund (205) (205) (2,496)
Operating transfer to Capital Project Fund (199,616) (199,616)
Total other financing sources (uses) (199,426) (199,426) (2,496)
Net increase (decrease) in fund balance $ (28,366) 428,349 $ 456,715 383,073
Fund Balance - January 1 3,924,669 3,541,596
Fund balance - December 31 $ 4,353,018 $ 3,924,669
Vow
WNW
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are
legally restricted to expenditures for particular purposes. The City maintained the following
Special Revenue Funds during the year.
Economic Development Authority - established to account for the receipt and uses of
funds for economic purposes.
Community Development Block Grant - to account for the financial activity related to
projects funded by CDBG programs.
Program Recreation - established to account for various self - supporting recreational
programs.
CITY OF LINO LAKES, NIINNESOTA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
December 31, 2002
(With Comparative Totals For December 31, 2001)
Statement 8
Economic Community
Development Development Program Totals
Authority Block Grant Recreation 2002 2001
Assets
Cash and investments $ $ $ 28,606 $ 28,606 $ 46,449
Accounts Receivable 97 97 -
Prepaid items 2,430 2,430 1,551
Total assets $ $ $ 31,133 $ 31,133 $ 48,000
Liabilities and Fund Balance
Liabilities:
Accounts payable $ $ $ 2,926 $ 2,926 $ 4,771
Salaries payable 577 577 483
Total liabilities 3,503 3,503 5,254
Fund balance:
Reserved for prepaid items
Unreserved:
Designated for recreation programs
Total fund balance
2,430 2,430 1,551
25,200 25,200 41,195
27,630 27,630 42,746
Total liabilities and fund balance $ $ $ 31,133 $ 31,133 $ 48,000
48
CITY OF LINO LAKES, MINNESOTA
▪ SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 2002
.� (With Comparative Totals For the Year Ended December 31, 2001)
Now
Statement 9
Economic Community
Development Development Program Totals
Authority Block Grant Recreation 2002 2001
Revenue:
Intergovernmental:
Federal:
CDBG $ $ 389 $ $ 389 $ 25
Charges for services:
.„„' Recreation fees - 238,836 238,836 238,983
Investment eamings 6 1,576 1,582 2,499
Total revenues 395 240,412 240,807 241,507
U MW
Maw
NNW
Wm.
Expenditures:
General government:
Current:
Personal services
Contractual services
Parks, recreation and forestry:
Current:
Personal services
Supplies
Other services and charges
Contractual services
Total expenditures
Revenue (under) expenditures
205
205
(205)
Other financing sources (uses)
Operating transfer from General Fund 205
Operating transfer to General Fund
Total other financing sources (uses) 205
205 409
25
113,181 113,181 99,521
136,042 136,042 150,580
500 500 439
5,805 5,805 532
255,528 255,733 251,506
395 (15,116) (14,926) (9,999)
(395)
(395)
205 -
(395) 2,496
(190) 2,496
Fund balance - January 1 42,746 42,746 50,249
Fund balance - December 31 $ - $ $ 27,630 $ 27,630 $ 42,746
49
CITY OF LINO LAKES, MINNESOTA
SPECIAL REVENUE FUND - PROGRAM RECREATION
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
For The Year Ended December 31, 2002
(With Comparative Totals For the Year Ended December 31, 2001)
Statement 10
2002
Over
(Under)
Budget Actual Budget
2001
Actual
Revenue:
Charges for services:
Recreation Fees $ 250,340 $ 238,836 $ (11,504) $ 238,983
Investment earnings - 1,576 1,576 2,499
Total revenue 250,340 240,412 (9,928) 241,482
Expenditures:
Current:
Personal services 127,591 113,181 (14,410) 99,521
Supplies 62,195 136,042 73,847 150,580
Other services and charges 20,965 500 (20,465) 439
Contractual services 15,600 5,805 (9,795) 532
Capital outlay - - -
Total expenditures 226,351 255,528 29,177 251,072
Net increase (decrease) in fund balance $ 23,989 $ (15,116) $ (39,105) (9,590)
Fund balance - January 1 42,746 52,336
Fund balance - December 31 $ 27,630 $ 42,746
50
DEBT SERVICE FUNDS
The Debt Service Funds account for the accumulation of resources for, and the payment of,
interest, principal and related costs on general long -term debt.
The City's Debt Service Funds account for three types of bonded indebtedness:
• General Debt Bonds - are repaid primarily from property taxes.
• Improvement Bonds - are repaid primarily from special assessments.
• Public Facility Lease Revenue Bonds - are repaid primarily from lease
revenues received from the EDA leasing the buildings to the City of Lino
Lakes and other tenants.
CITY OF LINO LAKES, MINNESOTA
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
December 31, 2002
(With Comparative Totals For 2001)
Assets
Cash and investments
Cash and investments
with escrow agent
Accrued Interest Receivable
Accounts Receivable
Taxes receivable:
Delinquent
Due from County
Special assessments receivable:
Delinquent
Deferred
Due from County
Total assets
Liabilities and Fund Balance
Improvement Improvement Improvement Certificates
Bonds of Bonds of Bonds of of
1996A 1998A 1998B Indebtedness
$ $ 317,298 $ 81,683
1,595
2,301
348 3,202 345
33,043 256,334 368,474
- 1,229 1,257
4,095
6,179
$ 33,391 $ 260,765 $ 691,270 $ 91,957
Liabilities:
Interfund payable $ 478,023 $ 92,504 $ $
Accounts payable 43,645
Deferred revenue 33,391 259,536 370,414 4,095
Total liabilities 555,059 352,040 370,414 4,095
Fund balance
Reserved for debt retirement - - 320,856 87,862
Unreserved - undesignated (521,668) (91,275) - -
Total fund balance (521,668) (91,275) 320,856 87,862
Total liabilities and fund balance $ 33,391 $ 260,765 $ 691,270 $ 91,957
51
Statement 11
Lease improvement Public Project
...- Revenue Refunding Refunding Improvement Improvement
Bonds Bonds Bonds Bonds of Bonds of Totals
of1998A of1999A of1999C 2002A 2002B 2002 2001
WNW
Noma
$ 404,519 $ 108,610 $ 311,579 $ 20,062 $ 65,350 $ 1,309,101 $ 1,232,908
482,257 - 10,204 492,461 507,959
341 7 348 645
56,250
3,560
1,354
5,227 1,985
691
22,652
10,604 7,814
15,692 13,020
- 4,586 8,439
1,991,683 2,672,186 1,127,822
- 2,486 2,065
$ 895,904 $ 131,953 $ 325,129 $ 20,062 $ 2,057,033 $ 4,507,464 $ 2,956,922
$ $ $ $ $ $ 570,527 $ 41,753
- 43,645 44,645
3,560 23,343 1,354 - 1,991,683 2,687,376 1,144,075
'..' 3,560 23,343 1,354 - 1,991,683 3,301,548 1,230,473
892,344 108,610 323,775 20,062 65,350 1,818,859 1,768,402
'..' (612,943) (41,953)
-
892,344 108,610 323,775 20,062 65,350 1,205,916 1,726,449
$ 895,904 $ 131,953 $ 325,129 $ 20,062 $ 2,057,033 $ 4,507,464 $ 2,956,922
CITY OF LINO LAKES, MINNESOTA
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
For the Year Ended December 31, 2002
With Comparative Totals For The Year Ended December 31, 2001
Revenue:
General property taxes:
Current and delinquent
Fiscal disparities
Intergovernmental:
State:
Market Value Credit
HACA and equalization aid
Special assessments:
Current and delinquent
Prepayments
Penalties and interest
Investment earnings
Lease Revenue
Total revenue
Expenditures:
Debt service:
Principal
Interest
Fiscal charges
Total expenditures
Revenue over (under) expenditures
Other financing sources (uses):
Operating transfer from Capital Project Funds
Bond proceeds
Payment to refunding bond escrow
Total other financing sources (uses)
Improvement Improvement Improvement Certificates
Bonds of Bonds of Bonds of of
1996A 1998A 1998B Indebtedness
$ $ 118,374 $ 311,843
21,362 56,245
11,195 29,477
8,280 77,755 49,052
47,631 342,697 15,487
13 492 266 393
- 4,231 2,953
55,924 420,944 219,967 400,911
590,000 290,000 110,000 321,980
112,565 178,650 85,053 57,347
2,050 1,616 316 -
704,615 470,266 195,369 379,327
(648,691) (49,322) 24,598 21,584
Net increase (decrease) in fund balance (648,691) (49,322) 24,598 21,584
Fund balance - January 1 127,023 (41,953) 296,258 66,278
Fund balance - December 31 $ (521,668) $ (91,275) $ 320,856 $ 87,862
53
VIEW
Statement 12
Lease Improvement Public Project
Revenue Refunding Refunding Improvement Improvement
Bonds Bonds Bonds Bonds of Bonds of Totals
of 1998A of 1999A of 1999C 2002A 2002B 2002 2001
$ 265,082 $ $ 100,345 $ $ $ 795,644 $ 567,034
47,856 18,103 143,566 94,509
25,080 9,487 75,239
332,369
8,623 143,710 134,441
2,961 - 408,776 411,354
311 2 124 - 1,601 1,251
31,812 5,270 153 587 45,006 56,694
112,500 - - 112,500 112,500
482,641 11,586 133,329 153 587 1,726,042 1,710,152
175,000 320,000 85,000 - 1,891,980 1,847,050
278,598 70,681 39,109 - 822,003 926,100
3,163 - 1,800 490 490 9,925 13,181
456,761 390,681 125,909 490 490 2,723,908 2,786,331
25,880 (379,095) 7,420 (337) 97 (997,866) (1,076,179)
391,681 391,681 409,743
20,399 65,253 85,652
(1,680,000)
391,681 20,399 65,253 477,333 (1,270,257)
25,880 12,586 7,420 20,062 65,350 (520,533) (2,346,436)
866,464 96,024 316,355 1,726,449 4,072,885
$ 892,344 $ 108,610 $ 323,775 $ 20,062 $ 65,350 $ 1,205,916 $ 1,726,449
54
MOM
MINN
CAPITAL PROJECT FUNDS
Capital Project Funds account for the acquisition or construction of major capital facilities other
than those financed by Proprietary Funds and Trust Funds. The City maintained the following
Capital Project Funds during the year:
Capital Improvement Projects - to account for the proceeds from Equipment Certificates.
Closed Bond Fund - to account for excess funds from matured bond issues.
Dedicated Parks - to account for the receipt and use of monies collected from dedicated
parks fees.
Area and Unit Charge - to account for the collection of water and sewer unit charges to
be used for debt payments and construction of infrastructure.
MSA Construction - to account for the collection of assessments on MSA projects.
Street Reconstruction — to account for the financing of future reconstruction of City
streets.
Sealcoating - to account for money received from assessments and developer deposits for
future street sealcoating projects.
Surface Water Management - to account for the financing of surface water management
and storm water improvements.
SAC Revolving - to account for refunds from the Metropolitan Council Environmental
Service for properties that paid Sewer Area Charges (SAC) that will be collected in the
future.
Construction Funds - to account for the construction of public improvements.
Town Center Project - to account for costs associated with the construction of the City
Town Center project.
Civic Center Project - to account for costs associated with the construction of the Civic
Complex project
Tax Increment - to account for development projects financed with tax increments.
Lake /Apollo Drive Improvement Fund - The Lake /Apollo Drive Improvement Fund was
established to account for the costs of upgrading Lake Drive and Apollo Drive east of
Lake Drive for the Market Place development.
Twilight Acres/W. Shadow Pond Improvement Fund - The Twilight Acres/W. Shadow Pond
Improvement Fund was established to account for the costs of installing sewer infrastructure in the
Twilight Acres area and to install utility and street improvements on West Shadow Ponds Drive.
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 2002
With Comparative Totals for December 31, 2001
Area
Capital Closed and
Improvement Bond Dedicated Unit
Projects Fund Parks Charge
Assets
Cash and investments $ 416,575 $ 984,903 $ 220,605 $ 69,776
Accounts receivable - 17,798
Due from other governmental units 96,586 3,102
Interfund receivable 7,097,332
Taxes receivable:
Due from County
Delinquent tax increment
Special assessments receivable:
Delinquent 294 24,772
Deferred 29,469 858,349
Due from County - 6,490
Advances to Other Funds 957,111
Land held for resale -
Total assets $ 416,575 $ 1,014,666 $ 317,191 $ 9,034,730
Liabilities and Fund Balance
Liabilities:
Interfund payable
Accounts payable
Retainage payable
Due to Other Governments
Advances from Other Funds
Deferred revenue
Total liabilities
4,617
4,617
- $ - $
5,293 99,572 72,503
1,026 5,000
957,111
29,763 - 883,121
35,056 1,057,709 960,624
Fund balance (deficit):
Reserved for Advances to Funds 957,111
Reserved for land held for resale
Unreserved:
Designated:
Capital improvements 7,116,995
Undesignated 411,958 979,610 (740,518) -
Total fund balance (deficit) 411,958 979,610 (740,518) 8,074,106
Total liabilities and fund balance $ 416,575 $ 1,014,666 $ 317,191 $ 9,034,730
55
MIN
MOW
NNE
Statement 13
Page 1 of 3
Surface
MSA Street Water SAC
Construction Reconstruction Sealcoating Management Revolving
$
$ 488,484 $ 139,016 $ 1,492,977 $ 368,066
219 1,218 5,495
12,968 240,853
999 2,035
$ $ 488,703 $ 154,201 $ 1,741,360 $ 368,066
$ 308,820 $ $ - $ - $
55,512 777 5,590 21,026 1,200
219 14,186 246,348
364,332 996 19,776 267,374 -
(364,332)
(364,332)
1,200
487,707 134,425 1,473,986 -
- 366,866
487,707 134,425 1,473,986 366,866
$ $ 488,703 $ 154,201 $ 1,741,360 $ 368,066
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 2002
With Comparative Totals for December 31, 2001
Assets
Cash and investments
Accounts receivable
Due from other governmental units
Interfund receivable
Taxes receivable:
Due from County
Delinquent tax increment
Special assessments receivable:
Delinquent
Deferred
Due from County
Advances to Other Funds
Land held for resale
Interim 1996 1997 1998
Construction Construction Construction Construction
$ 269,249 $ 733,264 $ $
678,348
Total assets $ 269,249 $ 733,264 $ 678,348 $
Liabilities and Fund Balance
Liabilities:
Interfund payable
Accounts payable
Retainage payable
Due to Other Govemments
Advances from Other Funds
Deferred revenue
Total liabilities
$ 1,376,888 $ 2,662,115
1,376,888 2,662,115
Fund balance (deficit):
Reserved for Advances to Other Funds
Reserved for land held for resale
Unreserved:
Designated:
Capital improvements 269,249 733,264
Undesignated - - (698,540) (2,662,115)
Total fund balance (deficit) 269,249 733,264 (698,540) (2,662,115)
Total liabilities and fund balance $ 269,249 $ 733,264 $ 678,348 $
57
INNS
Statement 13
Page 2 of 3
Town Civic Town Lake /Apollo Dr Twilight Acres/
Center Center Center Improvement W Shadow Pond
.. Project Project Infrastructure Market Place Improvement
NOM
$ $ $ 16,916 $ 88,314 $ 479,188
989,506
125,000
-- $ 989,506 $ $ 16,916 $ 88,314 $ 604,188
$ 2,070,826 $ $ $ $
219,676
74,014 18,149
2,070,826 74,014 237,825
989,506
16,916 - -
(2,070,826) - 14,300 366,363
(1,081,320) 16,916 14,300 366,363
$ 989,506 $ $ 16,916 $ 88,314 $ 604,188
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING BALANCE SHEET
December 31, 2002
With Comparative Totals for December 31, 2001
Tax Tax Tax Tax
Increment Increment Increment Increment
Financing Financing Financing Financing
1 -4 1 -5 1 -6 1 -7
Assets
Cash and investments $ 46,908 $ 29,503 $ $ 63,428
Accounts receivable - -
Due from other govemmental units
Interfund receivable
Taxes receivable:
Due from County 3 33 1,272
Delinquent tax increment - 39 1,446
Special assessments receivable:
Delinquent
Deferred
Due from County
Advances to Other Funds
Land held for resale
Total assets
Liabilities and Fund Balance
$ 46,911 $ 29,503 $ 72 $ 66,146
Liabilities:
Interfund payable $ $ $ 26,371 $ -
Accounts payable 13,765 357 20,952
Retainage payable - -
Due to Other Governments 1,822
Advances from Other Funds - -
Deferred revenue 39 1,446
Total liabilities 15,587 26,767 22,398
Fund balance (deficit):
Reserved for Advances to Other Funds
Reserved for land held for resale
Unreserved:
Designated:
Capital improvements 46,911 13,916 43,748
Undesignated - - (26,695) -
Total fund balance (deficit) 46,911 13,916 (26,695) 43,748
Total liabilities and fund balance $ 46,911 $ 29,503 $ 72 $ 66,146
59
Statement 13
Page 3 of 3
- Tax Tax Tax
Increment Increment Increment
Financing Financing Financing Totals
1 -8 1 -9 3 -1 2002 2001
Maw
Nom
$ 8,782 $ 409,334 $ 6,325.288 $ 6,183,430
17,798 18,921
903,036 1,032,516
7,097,332 6,072,346
196 14,134 15,638 19,188
200 216 1,361 3,262 48,963
31,998 28,350
1,141,639 2,025,930
9,524 19,703
957,111 853,917
989,506 989,506
$ 396 $ 8,998 $ 424,829 $ 17,492,132 $ 17,292,770
$ 8,595 $ $ - $ 6,453,615 $ 5,914,540
6,029 2,856 10,504 540,229 264,572
98,189 38,251
1,822 31,961
_ 957,111 853,917
- 200 216 1,361 1,176,899 2,103,244
14,824 3,072 11,865 9,227,865 9,206,485
(14,428)
- (14,428)
957,111 853,917
989,506 989,506
5,926 412,964 10,756,007
(4,438,357)
5,926 412,964 8,264,267
$ 396 $
10,146,843
(3,903,981)
8,086,285
8,998 $ 424,829 $ 17,492,132 $ 17,292,770
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 2002
With Comparative Totals For The Year Ended December 31, 2001
Revenue:
General property taxes:
Tax increments
Intergovernmental
State Aid
County
Federal Government
Special assessments:
Current and delinquent
Prepayments
Penalties and interest
Utility Charges
Investment earnings
Refunds and reimbursements
Miscellaneous
Park dedication fees
Antenna Lease
Sale of property
Total miscellaneous
Total revenue
Expenditures:
Current:
General government:
Contractual services
Public works:
Contractual services
Capital outlay:
General government
Public safety
Public works
Parks, recreation and forestry
Debt service:
Principal
Interest
Construction/acquisition
Total expenditures
Revenue over (under) expenditures
Other financing sources (uses):
Operating transfer from General Fund
Operating transfer from Capital Project Funds
Operating transfer to Debt Service Funds
Operating transfer to Capital Project Funds
Operating transfer to Enterprise Funds
Bond proceeds
Total other financing sources (uses)
Net increase (decrease) in fund balance
Fund balance (deficit)
Beginning of year
Residual equity transfer in
Residual equity transfer out
Fund balance (deficit) - December 31
Capital Closed Area and
Improvement Bond Dedicated Unit MSA
Projects Fund Parks Charge Construction
118,252
11,043 147,838
26,594 - 706,999
15 1,120
176,227
5,936 20,369 9,850 200,614
20,706 9,673 3,102
94,238
7,255
101,493
128,135
154,868
154,868
58,521 292,643
98,000
1,235,900 98,000
1,750 8, 137 25,884 96,026 216,000
75,578 528,817 79,011
141,551
127,299
100,000
6,000
346,178 8,137 660,701 175,037 216,000
(218,043) 50,384 (368,058) 1,060,863 (118,000)
174,616 25,000 -
192,283
(391,681)
(113,235)
(304,075) -
140,000 -
314,616 25,000 (808,991) 192,283
96,573 50,384 (343,058) 251,872 74,283
229,928 929,226 (397,460) 7,822,234 (438,615)
85,457 -
$ 411,958 $ 979,610 $ (740,518) 8 8,074,106 $ (364,332)
61
Vmmt
tam
Statement 14
Page 1 of 3
Surface
Street Water SAC
Reconstruction Sealcoating Management Revolving
2,250 13,104 48,044
37,744 129,694 263,747
8 338 472
10,130 5,208 30,643 8,037
31,995
50,132 180,339 342,906 8,037
8,740 284,934 79,584
7,400
5,223
ftw. 8,740 284,934 86,984 5,223
Vmo
41,392 (104,595)
41,392 (104,595)
446,315 239,020
255,922 2,814
(79,048)
(79,048)
176,874 2,814
1,297,112 364,052
$ 487,707 $ 134,425 5 1,473,986 $ 366,866
62
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 2002
With Comparative Totals For The Year Ended December 31, 2001
Revenue:
General property taxes:
Tax increments
Intergovernmental
State Aid
County
Federal Government
Special assessments:
Current and delinquent
Prepayments
Penalties and interest
Utility Charges
Investment earnings
Refunds and reimbursements
Miscellaneous
Park dedication fees
Antenna Lease
Sale of property
Total miscellaneous
Total revenue
Town
Interim 1996 1997 1998 Center
Construction Construction Construction Construction Project
5,428 15;)18
5,428
(354,167)
15,918 (354,167)
Expenditures:
Current:
General government:
Contractual services - 1,355 741 -
Public works:
Contractual services
Capital outlay:
General government
Public safety -
Public works
Parks, recreation and forestry
Debt service:
Principal 859,352
Interest - 192,467
Construction/acquisition -
Total expenditures 1,355 741 1,051,819
Revenue over (under) expenditures 5,428 15,918 (355,522) (741) (1,051,819)
Other financing sources (uses):
Operating transfer from General Fund
Operating transfer from Capital Project Funds 67,292 -
Operating transfer to Debt Service Funds
Operating transfer to Capital Project Funds -
Operating transfer to Enterprise Funds
Bond proceeds
Total other financing sources (uses) 67,292
Net increase (decrease) in fund balance
Fund balance (deficit)
Beginning of year
Residual equity transfer in
Residual equity transfer out
Fund balance (deficit) - December 31
72,720 15,918 (355,522) (741) (1,051,819)
196,529
717,346 (343,018)
(2,661,374) (29,501)
$ 269,249 $ 733,264 $ (698,540) $ (2,662,115) 5 (1,081,320)
63
Statement 14
Page 2 of 3
Civic Town Lake/Apollo Dr Twilight Acres/
Center Center Improvement W Shadow Pond
Project Infrastructure Market Place Improvement
125,000
3,392
927 310 958 5,541
161,609
161,609
927 3,702 162,567
130,541
268,667 35,359
1,480,269
1,748,936
353,323
388,682
927 3,702 (1,586,369) (258,141)
(67,292)
2,028,045 624,504
1,960,753 624,504
927 3,702 374,384 366,363
84,530 13,214 (360,084)
(85,457)
$ 16,916 $ 14,300 $ 366,363
64
CITY OF LINO LAKES, MINNESOTA
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
For The Year Ended December 31, 2002
With Comparative Totals For The Year Ended December 31, 2001
Tax Increment Tax Increment Tax Increment Tax Increment Tax Increment
Financing Financing Financing Financing Financing
1-4 1 -5 1-6 1 -7 1 -8
Revenue:
General property taxes:
Tax increments 5 5 35,124 $ 6;963 5 226,179 5 23,974
Intergovernmental
State Aid - -
County - -
Federal Government
Special assessments:
Current and delinquent - -
Prepayments - - -
Penalties and interest -
Utility Charges -
Investment earnings 1,019 .356 -
Refunds and reimbursements
Miscellaneous
Park dedication fees - - -
Antenna Lease - -
Sale of property - -
Total miscellaneous -
Total revenue 1,019 35,480 6,963 226,179 23,974
Expenditures:
Current:
General government:
Contractual services
Public works:
Contractual services
Capital outlay:
General government
Public safety
Public works
Parks, recreation and forestry
Debt service:
Principal
Interest
Construction/acquisition
Total expenditures
80 3,338 859 44,188 19,541
80 3,338 859 44,188 19,541
Revenue over (under) expenditures 939 31,542 6,104 181,991 4,433
Other financing sources (uses):
Operating transfer from General Fund
Operating transfer from Capital Project Funds
Operating transfer to Debt Service Funds
Operating transfer to Capital Project Funds
Operating transfer to Enterprise Fund
Bond proceeds
Total other financing sources (uses)
Net increase (decrease) in fund balance
Fund balance (deficit)
Beginning of year
Residual equity transfer in
Residual equity transfer out
Fund balance (deficit) - December 31
939 31,542 6,104 181,991 4,433
45,972 (17,726) (32,799) (138,243) (18,861)
$ 46,911 $ 13,916 $ (26,695) 5 43,748 $ (14,428)
65
Non
r
Statement 14
Page 3 of 3
Tax Increment Tax Increment
Financing Financing Totals
1 -9 3 -1 2002 2001
$ 81,432 $ 387,212 $ 760,884 $ 1,069,542
118,252
242 (353,925) 1,359,952
125,000
222,279 150,536
1,266,170 1,073,206
1,953 7,614
- 176,227 166,418
808 3,924 326,476 417,051
65,476 77,929
82,240 391,378
154,868 240,067
94,238 90,967
168,864 15,311
417,970 346,345
3,126,762 4,668,593
126,525 66,691 920,864 797,409
373,258 266,585
683,406 680
141,551 176,741
134,699 540,762
204,990
959,352 250,000
- 198,467 21,000
1,833,592 501,810
126,525 66,691 5,245,189 2,759,977
(44,285) 324,687 (2,118,427) 1,908,616
199,616
259,575
(391,681) (409,743)
(259,575) (307,650)
(304,075)
2,792,549 332,030
■■ 2,296,409 (385,363)
(44,285) 324,687 177,982 1,523,253
50,211 88,277 8,086,285 6,563,032
85,457
(85,457)
$ 5,926 $ 412,964 $ 8,264,267 $ 8,086,285
Mai
MOM
NOM
66
ENTERPRISE FUNDS
Enterprise Funds are used to account for operations that are financed and operated in a manner
similar to private business enterprises. The intent of the government's council is the cost of
providing goods or services to the general public on a continuing basis be financed or recovered
primarily through user charges; or where the government's council has decided that periodic
determination of net income is appropriate for accountability purposes. The City maintained the
following Enterprise Funds during the year:
Water Fund - to account for customer water service charges that are used to finance
water operating expenses.
Sewer Fund - to account for customer sewer service charges that are used to finance
sewer operating expenses.
CITY OF LINO LAKES, MINNESOTA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
December 31, 2002
With Comparative Totals For December 31, 2001
Statement 15
Assets
Totals
Water Sewer 2002 2001
Current assets:
Cash and cash equivalents $ 623,399 $ 1,835,227 $ 2,458,626 $ 1,896,445
Accounts receivable 105,951 145,051 251,002 277,663
Special assessments receivable:
Due from county 1,223 1,223 2,446 8,981
Prepaid items 4,867 5,914 10,781 9,676
Total current assets 735,440 1,987,415 2,722,855 2,192,765
Long term assets:
Special assessments, long term 191,137 191,137 287,298
Fixed assets:
Buildings 48,690 48,690 48,690
Equipment 122,821 169,675 292,496 287,550
Water and sewer systems 14,639,340 16,455,893 31,095,233 30,967,788
Total fixed assets 14,810,851 16,625,568 31,436,419 31,304,028
Less: Allowance for depreciation (2,255,819) (2,699,845) (4,955,664) (4,309,703)
Net fixed assets 12,555,032 13,925,723 26,480,755 26,994,325
Total assets $ 13,481,609 $ 15,913,138 $ 29,394,747 $ 29,474,388
Liabilities and Fund Equity
Current liabilities:
Accounts payable $ 41,589 $ 13,014 $ 54,603 $ 41,699
Salaries payable 5,753 5,374 11,127 9,788
Accrued interest payable 69,846 - 69,846 74,475
Due to other governmental units 1,041 1,041 1,744
Bonds payable - current portion 250,000 250,000 245,000
Total current liabilities 368,229 18,388 386,617 372,706
Long -term liabilities:
Bonds payable - long term 2,970,000 - 2,970,000 3,220,000
Compensated absences - payable 14,700 14,700 29,400 29,010
Total liabilities 3,352,929 33,088 3,386,017 3,621,716
Fund equity:
Contributed capital 9,121,021 13,814,402 22,935,423 23,480,325
Retained earnings
Reserved for Equipment Replacement 455,416 597,743 1,053,159 474,423
Unreserved 552,243 1,467,905 2,020,148 1,897,924
Total fund equity 10,128,680 15,880,050 26,008,730 25,852,672
Total liabilities and fund equity $ 13,481,609 $ 15,913,138 $ 29,394,747 $ 29,474,388
67
Mow
IMMIN
NNW
Iwo
CITY OF' LINO LAKES, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
For The Year Ended December 31, 2002
With Comparative Totals For The Year Ended December 31, 2001
Statement 16
Totals
Water Sewer 2002 2001
Operating revenue:
Charges for services $ 672,902 $ 1,089,249 $ 1,762,151 $ 1,760,904
Hook -up charges 29,260 23,560 52,820 50,065
Water meter sales 65,604 65,604 61,867
Other operating revenue 10,212 10,212 5,090
Total operating revenue 777,978 1,112,809 1,890,787 1,877,926
Operating expenses:
Personal services
Materials and supplies
Contractual services
MCES sewer charges
Depreciation:
Purchased assets
Contributed assets
Utilities
Other
Total operating expenses
Net income (loss) from operations
Other income (expense):
Investment earnings
Special assessments
Contributions from private sources
Bond interest
Paying agent fees
Total other income (expense)
Net income (loss) before operating transfers
Operating transfers:
Operating transfer from Capital Projects Fund
Total operating transfers
Net income (loss)
Credit arising from transfer of depreciation
to contributed capital
Retained earnings - January 1
Retained earnings - December 31
151,918 131,599 283,517 258,237
357,070 12,980 370,050 257,796
39,805 31,121 70,926 97,140
436,219 436,219 370,968
84,378 16,681 101,059 103,092
216,485 328,417 544,902 529,471
48,718 25,651 74,369 78,020
13,240 7,496 20,736 21,867
911,614 990,164 1,901,778 1,716,591
(133,636) 122,645 (10,991) 161,335
6,267 34,056 40,323
(68,042) 267 (67,775)
25,082 35,029 60,111
(168,935) - (168,935)
(750) (750)
(206,378) 69,352 (137,026)
(340,014) 191,997 (148,017)
304,075 304,075
304,075 304,075
(35,939) 191,997 156,058
216,485 328,417 544,902
827,113 1,545,234 2,372,347
$ 1,007,659 $ 2,065,648 $ 3,073,307
68
40,558
23,243
(183,750)
(1,500)
(121,449)
39,886
307,650
307,650
347,536
529,471
1,495,340
$ 2,372,347
CITY OF LINO LAKES, MINNESOTA
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
For The Year Ended December 31, 2002
With Comparative Totals For The Year Ended December 31, 2001
Statement 17
Totals
Water Sewer 2002
2001
Cash flows from operating activities:
Operating income (loss) $ (133,636) $ 122,645 $ (10,991) $ 161,335
Adjustments to reconcile operating income to
net cash flows from operating activities:
Depreciation 300,863 345,098 645,961 632,563
Change in assets and liabilities:
Decrease (increase) in receivables 25,878 783 26,661 (70,771)
Decrease (increase) in prepaid items (470) (635) (1,105) (3,005)
Increase (decrease) in payables 3,281 10,649 13,930 (52,717)
Net cash flows from operating activities 195,916 478,540 674,456 667,405
Cash flows from noncapital financing activities:
Operating transfer from Capital Project Funds
Net cash flows from noncapital financing activities
304,075
304,075
304,075 307,650
304,075 307,650
Cash flows from capital and related financing activities:
Principal paid on revenue bonds (245,000) (245,000) (875,000)
Investment with escrow agent - - 650,367
Collection of special assessments 34,578 343 34,921 26,300
Interest and paying agent fees on revenue bonds (174,314) - (174,314) (208,051)
Acquisition of fixed assets (68,135) (4,145) (72,280) (4,148)
Net cash flows from capital and related financing activities (452,871) (3,802) (456,673) (410,532)
Cash flows from investing activities:
Interest on investments
6,267 34,056 40,323 53,292
Net increase (decrease) in cash and cash equivalents 53,387 508,794 562,181 617,815
Cash and cash equivalents - January 1 570,012 1,326,433 1,896,445 1,278,630
Cash and cash equivalents - December 31 $ 623,399 $ 1,835,227 $ 2,458,626 $ 1,896,445
- Water lines in the amount of $25,082 were contributed to the Water Fund in 2002.
- Sewer lines in the amount of $35,029 were contributed to the Sewer Fund in 2002.
69
AGENCY FUNDS
Agency Funds are used to account for assets held by the City as an agent for individuals, private
organizations, other governments and /or other funds. The City maintained the following Agency
Funds during the year:
Contractor's Deposits - to account for pass - through costs relating to prospective
developers.
Pending Assessments Deposits - to account for prepayment of special assessments by
developers prior to Council adoption.
Investment Fund - to account for the pooling of investments of the City.
CITY OF LINO LAKES, MINNESOTA
AGENCY FUNDS
COMBINING BALANCE SHEET
December 31, 2002
(With Comparative Totals For December 31, 2001)
Statement 18
Assets
Cash and investments
Accrued interest receivable
Deposits receivable
Total assets
Liabilities
Pending
Contractors Assessment Investment Totals
Deposits Deposits Fund 2002 2001
$ 763,833 $ $ - $ 763,833 $ 557,031
- 73,190 73,190 116,053
10,520 10,520 10,520
$ 774,353 $ - $ 73,190 $ 847,543 $ 683,604
Interfund payable $ - $ - $ 73,190 $ 73,190 $ 116,053
Accounts payable 34,553 - 34,553 133,495
Deposits payable 739,800 739,800 434,056
Total liabilities
$ 774,353 $ - $ 73,190 $ 847,543 $ 683,604
70
CITY OF LINO LAKES, MINNESOTA Statement 19
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
For The Year Ended December 31, 2002
WON
Contractors deposits:
Balance Balance
January 1, December 31,
2002 Additions Deletions 2002
Assets
Cash and investments $ 532,111 $ 960,032 $ 728,310 $ 763,833
Deposits receivable 10,520 - 10,520
Total assets $ 542,631 $ 960,032 $ 728,310 $ 774,353
Liabilities
Accounts payable $ 133,495 $ 389,552 $ 488,494 $ 34,553
Deposits payable 409,136 973,522 642,858 739,800
Total Liabilities $ 542,631 $ 1,363,074 $ 1,131,352 $ 774,353
Pending Assessment Deposits:
Assets
Cash and investments $ 24,920 $ $ 24,920 $
Liabilities
Deposits payable $ 24,920 $ $ 24,920 $
Investment Fund:
Assets
Accrued interest receivable
Liabilities
Interfund payable
w
$ 116,053 $ 73,190 $ 116,053 $ 73,190
$ 116,053 $ 73,190 $ 116,053 $ 73,190
Totals -All Trust and Agency Funds:
Assets
Cash and investments $ 557,031 $ 960,032 $ 753,230 $ 763,833
.r Accrued interest receivable 116,053 73,190 116,053 73,190
Deposits receivable 10,520 - - 10,520
Total assets $ 683,604 $ 1,033,222 $ 869,283 $ 847,543
Liabilities
Interfund payable $ 116,053 $ 73,190 $ 116,053 $ 73,190
Accounts payable 133,495 389,552 488,494 34,553
Deposits payable 434,056 973,522 667,778 739,800
Total liabilities $ 683,604 $ 1,436,264 $ 1,272,325 $ 847,543
71
GENERAL FIXED ASSETS ACCOUNT GROUP
The City maintains a separate account group for the fixed assets used in the governmental fund
type operations. They are assets of the City as a whole and not of individual funds.
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE
For the Year Ended December 31, 2002
Statement 20
Balance Balance
January 1, December 31,
2002 Additions Deletions 2002
Land and improvements $ 3,106,089 $ 7,400 $ $ 3,113,489
Buildings 6,446,405 24,525 6,470,930
Office equipment and furniture 1,046,189 117,170 10,154 1,153,205
Vehicles 1,217,214 153,708 98,763 1,272,159
Machinery and Shop Equipment 577,136 85,404 662,540
Other 720,879 249,814 970,693
Totals $ 13,113,912 $ 638,021 $ 108,917 $ 13,643,016
Investment in General Fixed Assets from:
General Fund $ 1,077,176
Special Revenue Funds 15,929
Capital Project Funds 10,487,892
Grants 45,252
Donations 75,652
Debt Service Funds 61,400
Assets acquired before January 1, 1992 1,879,715
Total investment in General Fixed Assets $ 13,643,016
72
NEM
Vms
IMP
Nam
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
As of December 31, 2002
Statement 21
Office Machinery
Land Equipment and
and and Shop Other
Improvements Buildings Furniture Vehicles Equipment Improvements Total
General government:
Administration/finance $ $ - $ 97,370 $ $
Elections - - 53,788
Economic development 284,431 8,825 19,201
Engineering/planning - 13,107 32,330 -
Govemment buildings 945,014 6,457,972 509,822 6,809
Senior center - - 10,400 -
Total general government 1,229,445 6,457,972 693,312 51,531 6,809
Public safety:
$ $ 97,370
53,788
312,457
45,437
24,388 7,944,005
10,400
24,388 8,463,457
Police - - 209,894 382,625 3,000 107,724 703,243
Public works:
Streets
Shop -
Surface water management 480,051
Total public works 480,051
12,958
12,958
29,583
21,202
50,785
721,936
721,936
372,151
33,528
71,241
476,920
8,303 1,144,931
54,730
551,292
8,303 1,750,953
Parks, recreation and forestry:
Parks, recreation and forestry 1,403,993 199,214 116,067 175,811 830,278 2,725,363
Total parks, recreation and forestry 1,403,993 199,214 116,067 175,811 830,278 2,725,363
Totals $ 3,113,489 $ 6,470,930 $1,153,205 $ 1,272,159 $ 662,540 $ 970,693 $ 13,643,016
73
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
For The Year Ended December 31, 2002
Statement 22
Balance Balance
January 1, December 31,
2002 Additions Deletions 2002
General government:
Administration /finance $ 97,870 $ - $ 500 $ 97,370
Elections 48,805 4,983 53,788
Economic development 312,457 312,457
Engineering/planning 45,437 - - 45,437
Government buildings 7,906,183 38,603 781 7,944,005
Senior center 8,628 1,772 10,400
Total general government 8,419,380 45,358 1,281 8,463,457
Public safety:
Police 665,940 144,439 107,136 703,243
Public works:
Streets 1,000,166
Shop 54,730
Surface water management 543,892
Total public works 1,598,788
144,765
7,400
152,165
1,144,931
54,730
551,292
1,750,953
Parks, recreation and forestry:
Parks, recreation and forestry 2,429,804 296,059 500 2,725,363
Total parks, recreation and forestry 2,429,804 296,059 500 2,725,363
Totals $ 13,113,912 $ 638,021 $ 108,917 $ 13,643,016
74 -�
GENERAL LONG -TERM DEBT ACCOUNT GROUP
The General Long -Term Debt Account Group is used to account for long -term debt of the City
other than debt recorded in the Enterprise Funds.
MIN
IMmr
NMI
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF GENERAL LONG - TERM DEBT
December 31, 2002
Statement 23
December 31,
2002 2001
Amount Available And To Be Provided For The
Retirement of General Long -Term Debt:
Amount available in Debt Service Fund $ 1,205,916 $ 1,726,449
Amount to be provided - future tax levies /assessments /tax increment collections 17,063,001 16,459,177
Total available and to be provided $ 18,268,917 $ 18,185,626
General Long -Term Debt Payable:
Bonds payable:
General Obligation Bonds:
1999 Equipment Certificates 102,500
2000 Equipment Certificates 108,450 216,900
2001 Equipment Certificates 221,000 332,030
2002 Equipment Certificates 140,000
Civic Complex Lease Revenue Bonds - 1998A 5,010,000 5,185,000
Public Project Revenue Refunding Bonds - 1999C 765,000 850,000
Total general obligation bonds 6,244,450 6,686,430
Special assessment bonds:
G. O. Improvement Bonds of 1996A 1,975,000 2,565,000
G. O. Improvement Bonds of 1998A 3,730,000 4,020,000
G. O. Improvement Bonds of 1998B 1,775,000 1,885,000
G. O. Improvement Bonds of 1999A 1,405,000 1,725,000
G. O. Improvement Bonds of 2002A 645,000
G. O. Improvement Bonds of 2002B 2,110,000
Total special assessment bonds 11,640,000 10,195,000
Total bonds payable 17,884,450 16,881,430
Contracts for deed payable 959,352
Compensated absences payable 384,467 344,844
Total general long -term debt $ 18,268,917 $ 18,185,626
75
SUPPLEMENTARY FINANCIAL INFORMATION
-
CITY OF LINO LAKES, MINNESOTA
COMBINED SCHEDULE OF INDEBTEDNESS
December 31, 2002
Interest
Rates
Dated
Final
Maturity
Date
General Obligation Bonds:
1999 Equipment Certificates 6.00% 2/1/99 12/31/02
2000 Equipment Certificates 6.00% 2/1/00 12/31/03
2001 Equipment Certificates 6.00% 2/1/01 12/31/04
2002 Equipment Certificates 6.00% 2/1/02 12/31/05
Civic Complex Lease Revenue Bonds - 1998A 4.20 % - 5.35% 8/1/98 2/1/19
Public Project Revenue Refunding Bonds - 1999C 4.75 % -5.10% 9/1/99 2/1/10
Total General Obligation Bonds
Special Assessment Bonds:
G. O. Improvement Bonds of 1996A 4.20 % -5.20% 10/1/96 2/1/07
G. O. Improvement Bonds of 1998A 4.50% -4.90% 8/1/98 2/1/15
G. O. Improvement Bonds of 1998B 4.50 % -4.90% 8/1/98 2/1/15
G. O. Improvement Refunding Bonds of I999A 4.25 % -4.70% 9/1/99 2/1/06
G. O. Improvement Bonds of 2002A 3.00 % - 4.10% 8/1/02 2/1/13
G. O. Improvement Bonds of 2002B 3.20 % -5.55% 8/1/02 2/1/13
Total General Improvement Bonds with special assessments pledged
Revenue Bonds:
G. O. Water Revenue Bonds of 199613 4.10% -5.70% 10/1/96 2/1/12
G. O. Water Revenue Refunding Bonds of 1999B 4.25 % -4.90% 9/1/99 2/1/08
Total Revenue Bonds
Total - all bonds
Contract for deed payable 8.00% 7/2/97 2/1/02
Contract for deed payable 8.00% 12/1/97 12/1/02
Contract for deed payable 6.00% 12/21/99 2/1/02
Total - Contracts for deed
Total City indebtedness
76
O MB
NNW
W PM
N NW
Exhibit 1
Prior Years Principal Interest
Original Payable 2002 Payable Due Due
Issue Payments 1/1/02 Issued Payments 12/31/02 In 2003 In 2003
$ 307,570 $ 205,070 $ 102,500 $ $ 102,500 $ $ - $
325,450 108,550 216,900 108,450 108,450 108,450 6,507
332,030 332,030 - 111,030 221,000 124,260 13,260
- 140,000 - 140,000 50,000 16,100
5,350,000 165,000 5,185,000 - 175,000 5,010,000 190,000 248,618
980,000 130,000 850,000 85,000 765,000 85,000 35,071
7,295,050 608,620 6,686,430 140,000 581,980 6,244,450 557,710 319,556
4,685,000 2,120,000 2,565,000 590,000 1,975,000 405,000 88,980
4,310,000 290,000 4,020,000 290,000 3,730,000 290,000 165,600
2,000,000 115,000 1,885,000 110,000 1,775,000 110,000 80,103
- 1,725,000 - 1,725,000 - 320,000 1,405,000 335,000 56,553
- 645,000 645,000 - 23,091
2,110,000 2,110,000 109,097
12,720,000 2,525,000 10,195,000 2,755,000 1,310,000 11,640,000 1,140,000 523,424
3,320,000 535,000 2,785,000 160,000 2,625,000 165,000 136,355
680,000 - 680,000 85,000 595,000 85,000 25,834
4,000,000 535,000 3,465,000 245,000 3,220,000 250,000 162,189
24,015,050 3,668,620 20,346,430 2,895,000 2,136,980 21,104,450 1,947,710 1,005,169
598,382 86,668 511,714 511,714
-- 347,638 347,638 347,638
600,000 500,000 100,000 100,000
1,546,020 586,668 959,352 959,352
IMMO
$ 25,561,070 $ 4,255,288 $ 21,305,782 $ 2,895,000 $ 3,096,332 $ 21,104,450 $ 1,947,710 $ 1,005,169
77
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF DEFERRED TAX LEVIES
December 31, 2002
Exhibit 2
G.O. Public
Lease G. 0. Improvement Project G.O.
_
Year of Equipment Equipment Equipment Revenue Improvement Refunding Refunding Improvement
Levy/ Certificates Certificates Certificates Bonds Bonds Bonds of Bonds Bonds
Collection of 2000 of 2001 of 2002 of 1998A of 19988 1999A 1999C of 2002A Total
2002/2003 $ 120,705 $ 130,473 $ 69,405 $ 345,959 $ 153,192 $ 419,187 $ 119,685 $ 2,282 $ 1,360,888
2003/2004 - 122,430 52,920 325,988 154,876 418,399 120,729 - 1,195,342
2004/2005 50,085 332,525 151,072 390,270 126,641 1,547 1,052,140
2005/2006 - 343,382 152,519 121,459 8,897 626,257
2006/2007 - 353,031 153,729 126,667 5,259 638,686
2007/2008 - 361,562 154,704 - 7,467 523,733
2008/2009 368,387 155,441 - 6,496 530,324
2009/2010 485,462 155,796 5,446 646,704
2010/2011 485,987 155,757 - 9,645 651,389
_
2011/2012 - 490,655 155,313 - 8,385 654,353
2012/2013 489,001 154,537 - 643,538
2013/2014 491,258 158,719 - 649,977
2014/2015 492,413 492,413
..- 2015/2016 497,716 - 497,716
2016/2017 501,215 - - 501,215
2017/2018 503,310 - - 503,310
$ 120,705 $ 252,903 $ 172,410 $ 6,867,851 $ 1,855,655 $ 1,227,856 $ 615,181 $ 55,424 $ 11,167,985
NNW
78
CITY OF LINO LAKES, MINNESOTA
DEBT SERVICE PAYMENTS TO MATURITY - ALL BONDS
December 31, 2002
G. O. G. O. G. O.
Equipment Equipment Equipment Improvement Improvement Improvement
Certificates Certificates Certificates Bonds Bonds Bonds
2000 2001 2002 of 1996A of 1998A of 1998B
Bonds payable $ 108,450 $ 221,000 $ 140,000 $ 1,975,000 $ 3,730,000 $ 1,775,000
Future interest payable 6,507 19,260 24,200 248,200 1,132,125 586,999
Totals $ 114,957 $ 240,260 $ 164,200 $ 2,223,200 $ 4,862,125 $ 2,361,999
Payments to maturity:
2003 114,957 124,260 66,100 493,980 455,600 190,103
2004 116,000 50,400 469,460 442,550 190,040
2005 - 47,700 444,785 429,500 189,752
2006 - 419,965 416,450 184,352
2007 395,010 403,400 183,840
2008 385,462 183,103
2009 372,637 182,140
2010 359,670 180,882
2011 346,489 179,256
2012 333,094 177,248
2013 319,485 174,888
2014 305,805 172,230
2015 291,983 174,165
2016 -
2017
2018
2019
2020
2021
$ 114,957 $ 240,260 $ 164,200 $ 2,223,200 $ 4,862,125 $ 2,361,999
79
-- Exhibit 3
G. O. G. O. G. O. Water Civic Public
Improvement G. 0. G. 0. Water Revenue Complex Project
Refunding Improvement Improvement Revenue Refunding Revenue Revenue
Bonds Bonds Bonds Bonds Bonds Bonds Bonds
of 1999A of 2002A of 2002B of 1996B of 1999B of 1998A of 1999C Totals
$ 1,405,000 $ 645,000 $ 2,110,000 $ 2,625,000 $ 595,000 $ 5,010,000 $ 765,000 $ 21,104,450
131,326
106,469 695,104
856,099 89,726 2,567,183
151,849 6,615,047
$ 1,536,326 $ 751,469 $ 2,805,104 $ 3,481,099 $ 684,726 $ 7,577,183 $ 916,849 $ 27,719,497
391,553 12,434 58,744 301,355 110,834 438,618 120,071 2,878,609
391,350 116,315 270,705 303,108 111,983 444,975 116,034 3,022,920
390,081 113,465 270,265 304,195 112,795 426,078 131,521 2,860,137
363,342 115,615 273,702 299,725 118,143 431,860 126,534 2,749,688
- 122,615 270,748 299,680 113,154 441,625 116,640 2,346,712
119,150 272,387 298,915 117,817 450,282 111,790 1,938,906
30,355 277,988 419,034 - 457,595 101,964 1,841,713
29,430 277,237 419,682 346,594 92,295 1,705,790
28,430 275,538 418,864 455,094 - 1,703,671
32,430 278,083 416,541 455,068 1,692,464
-
31,230 279,707 459,002 1,264,312
456,790 934,825
458,415 924,563
458,990 458,990
463,181 463,181
465,845 465,845
467,171 467,171
iNII
$ 1,536,326 $ 751,469 $ 2,805,104 $ 3,481,099 $ 684,726 $ 7,577,183 $ 916,849 $ 27,719,497
80
CITY OF LINO LAKES, MINNESOTA
INSURANCE IN FORCE
December 31, 2002
Exhibit 4
Coverage Amount
General Liability:
Bodily Injury/Property Damage $ 1,000,000
Personal Injury/Police Professional Liability 1,000,000
Employee Benefit Liability 1,000,000
Fire Legal Liability 50,000
Medical Expense Occurrence Limit 1,000
Medical Expense Aggregate 10,000
Property Damage ($500 Deductible)
Property:
Buildings and Contents (including Mobile and EDP - Electronic Equipment & Valuable Papers) 18,613,946
Faithful Performance Blanket Bond 500,000
Storage Tank Liability 100,000
Rented/Leased Equipment ($500 Deductible) 200,000
Public Official and Employee Liability ($500 Deductible each occurrence) 1,000,000
Automotive:
Bodily injury and property damage 1,000,000
Comprehensive and Collision Actual Cash Value
Uninsured motorists 1,000,000
Workmen's compensation Statutory
Umbrella Liability 1,000,000
Crime - Theft Disappearance and Destruction ($500 Deductible) 50,000
81
VIM
MINN
Imo
CITY OF LINO LAKES, MINNESOTA
TAXABLE VALUATIONS, TAX LEVIES AND TAX RATES
Exhibit
Tax Capacity Tax Capacity
Values Values
2001/2002 2000/2001
Taxable valuations:
Total $ 10,628,965 $ 13,029,459
Fiscal disparities:
Distribution 1,368,643 1,917,954
Contribution (517,216) (760,789)
Less: Captured Tax Increment Value (566,397) (912,580)
$ 10,913,995 $ 13,274,044
Tax Tax
Certified Capacity Certified Capacity
Levy Rate Levy Rate
Taxes Levied:
Revenue 4,885,509 43.954 4,105,048 30.917
Bond and Interest 1,016,649 9.130 661,192 4.98
Totals $ 5,902,158 53.084 $ 4,766,240 35.897
The tax capacity rate is based on the total certified levy net of the fiscal disparity distribution
82
III.
STATISTICAL
SECTION
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND EXPENDITURES BY FUNCTION
Last Ten Fiscal Years
(Unaudited)
Table 1
Fiscal Total General Public Public Parks and Other
Year Expenditures Government Safety Works Recreation Functions
1993 $ 2,829,202 $ 911,230 $ 1,025,157 $ 565,019 $ 327,796 $
1994 3,169,862 1,082,796 1,127,883 554,533 404,650
1995 3,557,038 1,173,047 1,265,064 700,873 418,054
1996 3,966,738 1,289,751 1,446,985 694,455 535,547
1997 4,400,087 1,366,602 1,751,226 697,934 439,263 145,062
1998 5,328,796 1,560,268 1,778,898 673,156 722,728 593,746
1999 5,237,554 1,771,069 1,958,169 628,070 647,163 233,083
2000 5,513,148 1,770,528 2,158,346 786,420 655,863 141,991
2001 5,808,265 1,871,615 2,246,146 868,289 663,360 158,855
2002 6,213,645 1,982,096 2,519,152 872,193 696,511 143,693
83
CITY OF LINO LAKES, MINNESOTA
GENERAL FUND REVENUES BY SOURCE
Last Ten Fiscal Years
(Unaudited)
Table 2
Fiscal
Year
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
Total
General
Fund
Revenue
$ 3,177,662
3,295,398
3,772,335
4,627,532
4,736,496
5,722,363
5,343,453
5,613,395
6,193,834
6,841,420
General
Property
Taxes
Levied
$ 1,420,369
1,597,542
1,941,415
2,327,048
2,658,485
2,904,888
2,962,664
3,306,057
4,125,264
4,543,106
Licenses
and
Permits
$ 565,684
383,388
544,267
788,480
566,561
726,599
823,719
884,746
1,016,456
913,498
Inter -
Governmental
Revenues
Charges Fines
for and Other
Services Forfeits Revenue
$ 673,944 $ 239,562 $ 83,019 $ 195,084
677,337 353,026 72,454 211,651
738,652 241,393 93,861 212,747
816,794 308,262 86,158 300,790
881,459 291,090 99,390 239,511
1,380,063 347,485 102,489 260,839
940,053 278,510 87,434 251,073
702,606 272,145 124,458 323,383
409,607 278,863 101,559 262,085
893,861 196,351 100,393 194,211
84
CITY OF LINO LAKES, MINNESOTA
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Fiscal Years
(Unaudited)
Table 3
Percent of Percent of
Total Tax Delinquent
Total Current Percentage Delinquent Total Collections Outstanding Taxes to
Fiscal Tax Tax of Levy Tax Tax To Tax Delinquent Tax
Year Levy Collections Collected Collections Collections Levy Taxes Levy
1993 $ 2,073,987 $ 2,057,602 99.21% $ 50,099 $ 2,107,701 101.63% $ 29,534 1.42%
1994 2,268,950 2,243,045 98.86% 15,014 2,258,059 99.52% 27,804 1.23%
1995 2,634,350 2,613,719 99.22% 21,206 2,634,925 100.02% 22,368 0.85%
1996 3,040,000 3,011,917 99.08% 15,641 3,027,558 99.59% 22,489 0.74%
1997 3,349,400 3,316,426 99.02% 23,962 3,340,388 99.73% 32,598 0.97%
1998 3,589,617 3,564,611 99.30% 30,186 3,594,797 100.14% 29,774 0.83%
1999 4,116,312 4,085,625 99.25% 23,876 4,109,501 99.83% 23,199 0.56%
2000 4,571,888 4,534,998 99.19% 19,452 4,554,450 99.62% 46,344 1.01%
2001 5,098,609 5,047,912 99.01% 40,513 5,088,425 99.80% 56,056 1.10%
2002 5,902,158 5,847,692 99.08% 50,882 5,898,574 99.94% 61,349 1.04%
Note: Does not include tax increment levies and collections.
Note: Current tax collections include State levy related credits (HACA and Market Value Credit)
85
CITY OF LINO LAKES, MINNESOTA
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
Last Ten Fiscal Years
(Unaudited)
Table 4
WINN
% of Current % of Total
Current Current Collections Delinquent Collections Total
WNW Fiscal Assmts. Assmts. to Assmts. Assessments Total to Current Outstanding
Year Due Collected Due Collected Collected Assmts. Due Del. Assmts.
_ 1993 $ 632,067 $ 580,678 91.87% $ 39,313 $ 619,991 98.09% $ 43,036
1994 387,200 355,543 91.82% 32,743 388,286 100.28% 36,497
1995 394,770 353,424 89.53% 26,051 379,475 96.13% 10,221
1996 366,146 355,609 97.12% 26,831 382,440 104.45% 21,040
1997 593,957 589,158 99.19% 20,153 609,311 102.59% 5,692
1998 664,912 657,041 98.82% 3,561 660,602 99.35% 12,019
1999 520,982 512,433 98.36% 8,429 520,862 99.98% 11,947
- 2000 503,922 434,857 86.29% 9,078 443,935 88.10% 7,919
2001 394,826 356,804 90.37% 5,614 362,418 91.79% 36,789
2002 418,871 387,559 92.52% 32,294 419,853 100.23% 36,584
Owe
Note: Special assessments amounts above do not include prepayments
CITY OF LINO LAKES, MINNESOTA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL
BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last Ten Fiscal Years
(Unaudited)
Table 5
Percent of
Debt Service
Interest Total Total Expenditures
Fiscal and Debt General Fund to General
Year Principal Other Service (1) Expenditures (2) Expenditures
1993 $ 177,500 $ 108,276 $ 285,776 S 2,829,202 10.10%
1994 282,500 96,268 378,768 3,169,862 11.95%
1995 228,500 96,135 324,635 3,557,038 9.12%
— 1996 188,000 100,248 288,248 3,966,738 7.27%
1997 188,000 106,785 294,785 4,400,087 6.70%
1998 190,000 112,201 302,201 5,328,796 5.67%
1999 295,734 387,500 683,234 5,237,554 13.04%
2000 273,570 318,507 592,077 5,513,148 10.74%
2001 472,050 322,503 794,553 5,808,265 13.68%
2002 496,980 316,978 813,958 6,213,645 13.10%
(1) Excludes tax increment, special assessment, enterprise, and payments on refunded bonds.
(2) Includes expenditures of General Fund only.
Note: Amounts rounded to the nearest hundred.
CITY OE LINO LAKES, MINNESOTA
ASSESSED AND ESTIMATED ACTUAL VALUE
OF TAXABLE PROPERTY
Last Ten Fiscal Years
(Unaudited)
Taxes Real Personal
Payable Property Property
Total
Fiscal
Disparities
1993 $ 4,557,819 $ 309,993 $ 4,867,812 $ 954,529
1994 5,146,854 360,097 5,506,951 970,411
1995 6,204,237 392,508 6,596,745 879,810
1996 7,390,566 435,045 7,825,611 952,790
1997 8,344,972 462,282 8,807,254 1,003,376
1998 9,244,905 434,234 9,679,139 1,036,542
1999 9,649,657 393,365 10,043,022 917,989
2000 11,003,125 395,637 11,398,762 1,001,728
2001 12,635,731 393,728 13,029,459 1,157,165
2002 10,382,371 246,594 10,628,965 851,427
Source: Anoka County Department of Property Records and Taxation.
88
VIM
IIIIMm
WWI
Table 6
Tax Increment
$ (244,419)
(256,841)
(287,819)
(307,790)
—
(410,724)
(555,542)
— (646,438)
(804,752)
(912,580)
(566,397)
Assessor's Estimated Ratio of Total
Net Taxable Market Value of Assessed to
Value Taxable Property Actual Value
$ 5,577,922
6,220,521
7,188,736
8,470,611
9,399,906
10,160,139
10,314,573
11,595,738
13,274,044
10,913,995
$ 320,714,400
368,267,100
435,100,000
501,825,800
552,696,200
627,423,800
687,737,400
775,398,200
903,685,700
1,034,432,100
1.74%
1.69%
1.65%
1.69%
1.70%
1.62%
1.50%
1.50%
1.47%
1.06%
CITY OF LINO LAKES, MINNESOTA
PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS
Last Ten Fiscal Years
(Unaudited)
Table 7
Tax Rates (Per $100 of Tax Capacity)
Year
Taxes
Payable City School (1) County Other (2) Total
1993 29.386 60.589 32.779 6.510 129.264
1994 29.661 62.537 32.680 6.260 131.138
1995 30.772 64.308 32.765 6.977 134.822
1996 31.015 63.103 31.036 5.647 130.801
1997 31.167 66.000 30.542 5.197 132.906
1998 30.437 59.004 30.618 6.342 126.401
1999 36.039 64.802 32.265 6.830 139.936
2000 35.961 58.230 30.861 7.635 132.687
2001 35.898 69.888 28.859 6.903 141.548
2002 53.084 37.828 37.976 5.913 134.801
(1) The majority of Lino Lakes is served by School District 12.
(2) Other includes: Metropolitan Council, Mosquito Control, Metropolitan Transit,
Rice Creek Watershed District and Forest Lake Hospital.
Source: Anoka County Depai talent of Property Records and Taxation.
90
CITY OF LINO LAKES, MINNESOTA
RATIO OF NET BONDED DEBT
TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Fiscal Years
(Unaudited)
Table 8
._ Ratio of
Less Net Bonded
Net Taxable Gross Cash and Debt to Net
_ Value of Bonded Investments Net Assessed Bonded Debt
Year Population (1) Property Debt (2) on Hand Bonded Debt Value Per Capita
1993 11,193 $ 5,577,922 $ 1,526,000 $ 222,111 $ 1,303,889 23.38% 116.49
MONO
1994 12,266 6,220,521 1,393,500 142,173 1,251,327 20.12% 102.02
1995 13,097 7,188,736 1,341,000 135,440 1,205,560 16.77% 92.05
1996 13,756 8,470,611 1,378,000 194,807 1,183,193 13.97% 86.01
1997 14,560 9,399,906 1,415,000 111,834 1,303,166 13.86% 89.50
1998 15,053 10,160,139 6,862,734 721,623 6,141,111 60.44% 407.97
1999 15,760 10,314,573 6,904,570 666,137 6,238,433 60.48% 395.84
2000 16,791 11,595,738 6,911,450 1,271,904 5,639,546 48.63% 335.87
2001 17,380 13,274,044 6,686,430 1,171,357 5,515,073 41.55% 317.32
—
2002 18,000 10,913,995 6,244,450 1,801,562 4,442,888 40.71% 246.83
lom
MEW
(1) Population estimates provided from Metropolitan Council except 2000 is Federal Census and 2002 is City Estimate.
(2) Amount excludes tax increment, special assessment, enterprise and EDA bonds.
91
CITY OF LINO LAKES, MINNESOTA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
INCLUDING DEBT RATIOS
December 31, 2002
(Unaudited)
Table 9
Bonded G.O. Percentage
Gross Bonded Debt Applicable City Share
Overlapping Debt: Outstanding (1) in City(2) of Debt
Anoka County $ 93,445,000 6.13% $ 5,730,273
School District 12 95,465,000 47.50% 45,344,015
School District 624 37,710,000 3.87% 1,458,002
School District 831 48,800,000 7.15% 3,487,970
SISD 916 18,135,000 2.56% 464,905
Metropolitan Council 221,700,000 0.59% 1,302,744
Total Overlapping Debt
515,255,000 57,787,909
Direct Debt:
City of Lino Lakes 6,244,450 100.00% 6,244,450
Total Overlapping & Direct Debt $ 521,499,450 $ 64,032,359
Debt Ratios:
Ratio of Debt per capita (18,000 population) - overlapping $ 3,210
Ratio of Debt per capita (18,000 population) - direct $ 347
Ratio of Debt per capita (18,000 population) - total $ 3,557
Ratio of Debt to estimated market valuation of $1,034,432,100 6.19%
(1) Does not include general obligation debt supported by utility revenues, tax or aid anticipation certificates,
State -aid road or revenue debt.
(2) Determined by ratio of net tax capacity (after fiscal disparities and tax increment adjustment)
of property subject to taxation in overlapping unit to valuation of property subject to taxation in City.
92
CITY OF LINO LAKES, MINNESOTA
COMPUTATION OF LEGAL DEBT MARGIN
December 31, 2002
(Unaudited)
Table 10
Market Value
Debt Limit Percentage
Debt Limit
Total Bonded Debt
Less:
Special Assessment Bonds
Revenue Bonds - Enterprise Fund
Public Project Revenue Bonds
Total Debt Applicable to Debt Limit
Legal Debt Margin
2002 2001
$ 1,034,432,100 $ 903,685,700
2% 2%
20,688,642 18,073,714
21,104,450 20,346,430
(11,640,000) (10,195,000)
(3,220,000) (3,465,000)
(765,000) (980,000)
$ 5,479,450 5,706,430
$ 15,209,192 $ 12,367,284
CITY OF LINO LAKES, MINNESOTA
SCHEDULE OF REVENUE BOND COVERAGE
WATER FUND
Last Ten Years
(Unaudited)
Table 11
Net Revenue
Available Interest
Fiscal Gross Operating for Debt and
Year Revenues (1) Expenses (2) Service Principal Fiscal Charges Total Coverage
1993 $ 332,888 $ 169,431 $ 163,457 $ $ 75,350 $ 75,350 2.17
1994 394,245 149,764 244,481 25,000 66,080 91,080 2.68
1995 461,747 177,724 284,023 40,000 64,118 104,118 2.73
1996 466,310 210,778 255,532 50,000 170,881 220,881 1.16
1997 851,173 271,575 579,598 50,000 229,900 279,900 2.07
1998 598,005 237,866 360,139 140,000 225,182 365,182 0.99
1999 604,734 380,928 223,806 205,000 220,910 425,910 0.53
2000 1,039,331 495,183 544,148 210,000 237,612 447,612 1.22
2001 1,173,593 508,649 664,944 155,000 185,250 340,250 1.95
2002 1,082,053 610,751 471,302 245,000 169,685 414,685 1.14
(1) Total Water Fund operating revenues and transfers in.
(2) Total Water Fund expenses exclusive of depreciation, interest on debt and fiscal charges.
94
WOO
CITY OF LINO LAKES, MINNESOTA
PRINCIPAL TAXPAYERS
(Unaudited)
Table 12
Ten of the City's Largest Taxpayers
Taxpayer
Type of Business
Percent of
2001 Net Tax City's Net
Capacity Tax Capacity
Xcel Energy Utility $ 129,316 0.99%
Taylor Corp. Commercial /Industrial 96,938 0.74%
Lino Lakes Business Center Commercial /Industrial 93,570 0.72%
Molin Concrete Products Commercial /Industrial 85,888 0.66%
Individual Commercial /Industrial 72,200 0.55%
F & G, Inc. Commercial /Industrial 62,078 0.48%
Anoka Electric Co -Op Utility 41,040 0.32%
Minnegasco Utility 40,446 0.31%
Northern Development LLC Commercial /Industrial 39,958 0.30%
DJT Properties, LLC Commercial /Industrial 29,536 0.23%
Total Ten Largest Taxpayers $ 690,970 * 5.30%
* Represents 6.3% of the City's 2001 taxable net tax capacity.
Source: Anoka County Department of Property Records and Taxation.
IMa
CITY OF LINO LAKES, MINNESOTA
PROPERTY VALUE, CONSTRUCTION PERMITS AND BANK DEPOSITS
Last Ten Years
(Unaudited)
Table 13
Fiscal Property Number of Permit Bank
Year Value (1) Building Permits Valuation Deposits (2)
1993 $ 320,714,440 628 $ 44,537,437 Not Available
1994 368,367,100 566 :26,713,028 Not Available
1995 435,100,000 598 40,636,691 Not Available
1996 501,825,800 588 74,061,188 Not Available
1997 552,696,200 597 :32,666,843 Not Available
1998 627,423,800 911 48,683,257 Not Available
1999 687,737,400 893 54,522,159 Not Available
2000 775,398,500 1,186 57,080,794 Not Available
2001 903,685,700 1,042 74,974,042 Not Available
2002 1,034,432,100 860 53,977,610 Not Available
(1) Assessor's estimated market value of taxable property from Table 6.
(2) Bank deposits are excluded due to the banks within the City being consolidated with banks outside the City.
As a result, local deposits are unavailable.
Source: City Inspection records.
96
CITY OF LINO LAKES, MINNESOTA
DEMOGRAPHIC STATISTICS
Last Ten Years
(Unaudited)
Table 14
Fiscal School Number of Unemployment
Year Population (2) Enrollment (1) Households (2) Rate (3)
1993 11,193 5,219 3,313 4.8%
1994 12,266 5,587 3,671 3.6%
1995 13,097 5,932 3,899 3.1%
1996 13,756 6,010 4,095 2.6%
1997 14,560 6,230 4,280 2.5%
—
1998 15,053 6,469 4,443 1.9%
1999 15,760 6,732 4,692 2.5%
—
2000 16,791 6,778 4,857 2.6%
—
2001 17,386 6,846 5,084 4.1%
2002 18,000 6,850 5,291 4.3%
(1) Centennial School District 12
(2) Metropolitan Council except 2000 is Federal Census and 2002 is City Estimate
(3) Minnesota Department of Economic Security
CITY OF LINO LAKES, MINNESOTA
MISCELLANEOUS STATISTICS
(Unaudited)
Table 15
Date of Incorporation 5/11/1955
Date of Adoption of City Charter 1/12/1982
Form of Government Charter
Area of City (square miles) 33
Miles of Streets:
Trunk Highways
Paved - County
Paved - City
17.4
28.5
100.50
Number of Street Lights 486
Fire Protection:
Centennial Fire District
Total Number of Stations
(within Lino Lakes)
Total Number of Volunteers
3
1
51
Police Protection:
Number of Stations 1
Number of sworn officers 22
Recreation:
Park Acreage 166
Number of Parks & Playgrounds 21
Trails 14 miles
Municipal Water:
Gallons Pumped 357,699,000
Number of Connections 3,433
Miles of watermain 42.5
Number of Fire Hydrants 427
Water Tower Capacity (gallons) 2 million
Municipal Sewer:
Number of Connections
Miles of sewermain
Employees:
Full -time
Part -time
3,636
51.28
64
4
Elections:
Registered voters - last general election 9,349
Number of votes cast 3,089
Percent of registered voters voting 33%
98