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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 10,204,382$ 5,159,709$ 15,364,091$
<br />Receivables
<br />Accrued interest 18,515 9,798 28,313
<br />Taxes 108,511 - 108,511
<br />Accounts 20,695 256,640 277,335
<br />Special assessments 36,833 248,380 285,213
<br />Due from other governments 859,694 2,980 862,674
<br />Inventories 3,494 14,341 17,835
<br />Prepaid items 67,401 - 67,401
<br />Capital assets
<br />Land and construction in progress 9,754,608 473,542 10,228,150
<br />Depreciable assets (net of accumulated depreciation)23,805,246 19,253,063 43,058,309
<br />Total Assets 44,879,379 25,418,453 70,297,832
<br />Deferred Outflows of Resources
<br />Deferred other postemployment benefits resources 78,314 10,934 89,248
<br />Deferred pension resources 1,811,018 57,752 1,868,770
<br />Total Deferred Outflows of Resources 1,889,332 68,686 1,958,018
<br />Liabilities
<br />Accounts and contracts payable 773,465 239,658 1,013,123
<br />Accrued salaries payable 71,945 8,811 80,756
<br />Due to other governments 98,686 17,571 116,257
<br />Accrued interest payable 64,342 8,180 72,522
<br />Deposits payable 1,528,342 7,000 1,535,342
<br />Unearned revenue 22,737 - 22,737
<br />Noncurrent liabilities
<br />Due within one year
<br />Long-term liabilities 1,539,804 146,423 1,686,227
<br />Due in more than one year
<br />Long-term liabilities 4,369,854 740,458 5,110,312
<br />Net pension liability 4,017,837 477,174 4,495,011
<br />Other postemployment benefits liability 793,374 110,771 904,145
<br /> Total Liabilities 13,280,386 1,756,046 15,036,432
<br />Deferred Inflows of Resources
<br />Deferred pension resources 2,304,867 21,139 2,326,006
<br />Deferred other postemployment benefit resources 175,366 24,485 199,851
<br />Total Deferred Inflows of Resources 2,480,233 45,624 2,525,857
<br />Net Position
<br />Net investment in capital assets 28,256,953 18,910,474 47,167,427
<br />Restricted for
<br />Debt service 2,157,042 - 2,157,042
<br />Golf course improvements 283 - 283
<br />Park improvements 94,902 - 94,902
<br />Drug and alcohol law enforcement '411,044 - 411,044
<br />Home buyer purchase assistance program 140,191 - 140,191
<br />Senior housing TIF 63,747 - 63,747
<br />Unrestricted (116,070) 4,774,995 4,658,925
<br />Total Net Position 31,008,092$ 23,685,469$ 54,693,561$
<br />The notes to the financial statements are an integral part of this statement.
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