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City of Orono, Minnesota
<br />Statement of Net Position
<br />December 31, 2019
<br />Governmental Business-type
<br />Activities Activities Total
<br />Assets
<br />Cash and temporary investments 10,119,272$ 4,477,204$ 14,596,476$
<br />Receivables
<br />Accrued interest 22,338 11,437 33,775
<br />Taxes 69,976 - 69,976
<br />Accounts 15,918 605,826 621,744
<br />Special assessments 38,450 278,501 316,951
<br />Due from other governments 790,186 2,918 793,104
<br />Inventories 3,494 6,566 10,060
<br />Prepaid items 161,287 51,616 212,903
<br />Capital assets
<br />Land and construction in progress 9,461,554 993,195 10,454,749
<br />Depreciable assets (net of accumulated depreciation) 22,292,943 18,571,468 40,864,411
<br />Total Assets 42,975,418 24,998,731 67,974,149
<br />Deferred Outflows of Resources
<br />Deferred other postemployment benefits resources 15,632 2,697 18,329
<br />Deferred pension resources 3,859,103 45,799 3,904,902
<br />Total Deferred Outflows of Resources 3,874,735 48,496 3,923,231
<br />Liabilities
<br />Accounts and contracts payable 306,268 362,057 668,325
<br />Accrued salaries payable 204,684 23,454 228,138
<br />Due to other governments 12,838 24,814 37,652
<br />Accrued interest payable 64,765 8,846 73,611
<br />Deposits payable 1,383,436 7,000 1,390,436
<br />Unearned revenue 40,395 - 40,395
<br />Noncurrent liabilities
<br />Due within one year 1,458,670 140,308 1,598,978
<br />Due in more than one year 5,341,041 822,034 6,163,075
<br />Net pension liability 3,495,017 383,969 3,878,986
<br />Other postemployment benefits liability 744,884 128,553 873,437
<br />Total Liabilities 13,051,998 1,901,035 14,953,033
<br />Deferred Inflows of Resources
<br />Deferred pension resources 3,934,581 70,673 4,005,254
<br />Deferred other postemployment benefit resources 37,525 6,476 44,001
<br />Total Deferred Inflows of Resources 3,972,106 77,149 4,049,255
<br />Net Position
<br />Net investment in capital assets 25,500,646 18,679,663 44,180,309
<br />Restricted for
<br />Debt service 2,093,454 - 2,093,454
<br />Golf course improvements 277 - 277
<br />Park improvements 325,063 - 325,063
<br />Drug and alcohol law enforcement ' 555,241 - 555,241
<br />Home buyer purchase assistance program 137,506 - 137,506
<br />Senior housing TIF 91,378 - 91,378
<br />Unrestricted 1,122,484 4,389,380 5,511,864
<br />Total Net Position 29,826,049$ 23,069,043$ 52,895,092$
<br />The notes to the financial statements are an integral part of this statement.
<br />Accounts and contracts payableAccounts and contracts payable 306,268306,268 362,057
<br />204,684204,684
<br />12,83812,838
<br />64,76564,765
<br />1,383,4361,383,436
<br />40,39540,395
<br />1,458,6701,458,670 140,308140,308
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