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City of Orono, Minnesota
<br />Statement of Net Position
<br />December 31, 2023
<br />Governmental Business-type
<br />Activities Activities Total
<br />Assets
<br />Cash and temporary investments 16,965,777$ 4,367,495$ 21,333,272$
<br />Receivables
<br />Accrued interest 49,522 458 49,980
<br />Taxes 74,890 - 74,890
<br />Accounts 77,651 483,423 561,074
<br />Special assessments 28,000 35,612 63,612
<br />Lease 1,280,518 - 1,280,518
<br />Due from other governments 860,111 9,730 869,841
<br />Prepaid items 136,312 64,266 200,578
<br />Capital assets
<br />Land and construction in progress 23,271,602 1,521,138 24,792,740
<br />Depreciable assets (net of accumulated depreciation) 28,150,650 20,384,110 48,534,760
<br />Total Assets 70,895,033 26,866,232 97,761,265
<br />Deferred Outflows of Resources
<br />Deferred pension resources 6,172,066 137,957 6,310,023
<br />Liabilities
<br />Accounts and contracts payable 2,075,047 107,941 2,182,988
<br />Accrued salaries payable 105,590 18,228 123,818
<br />Due to other governments 625,677 19,350 645,027
<br />Accrued interest payable 176,820 6,052 182,872
<br />Deposits payable 1,336,899 7,000 1,343,899
<br />Noncurrent liabilities
<br />Due within one year
<br />Long-term liabilities 1,222,931 148,982 1,371,913
<br />Due in more than one year
<br />Long-term liabilities 17,146,631 495,771 17,642,402
<br />Net pension liability 5,110,716 482,079 5,592,795
<br />Other postemployment benefits liability 1,016,678 159,172 1,175,850
<br /> Total Liabilities 28,816,989 1,444,575 30,261,564
<br />Deferred Inflows of Resources
<br />Deferred lease resources 1,206,973 - 1,206,973
<br />Deferred pension resources 5,979,032 135,527 6,114,559
<br />Total Deferred Inflows of Resources 7,186,005 135,527 7,321,532
<br />Net Position
<br />Net investment in capital assets 34,721,961 21,343,572 56,065,533
<br />Restricted for
<br />Debt service 681,679 - 681,679
<br />Public safety 371,306 - 371,306
<br />Park improvements 134,054 - 134,054
<br />Drug and alcohol law enforcement 694,510 - 694,510
<br />Home buyer purchase assistance program 142,095 - 142,095
<br />Housing 601,467 - 601,467
<br />Unrestricted 3,717,033 4,080,515 7,797,548
<br />Total Net Position 41,064,105$ 25,424,087$ 66,488,192$
<br />The notes to the financial statements are an integral part of this statement.
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<br />Accounts and contracts payableAccounts and contracts payable 2,075,0472,075,047 107,941107,941 2,182,9882,182,988
<br />Accrued salaries payableAccrued salaries payable 105,590 18,22818,228
<br />Due to other governmentsDue to other governments 625,677625,677 19,35019,350
<br />Accrued interest payableAccrued interest payable 176,820 6,0526,052
<br />Deposits payableDeposits payable 1,336,8991,336,899 7,0007,000 1,343,899
<br />Noncurrent liabilitiesNoncurrent liabilities
<br />Due within one yearDue within one year
<br />Long-term liabilitiesLong-term liabilities 1,222,9311,222,931 148,982148,982 1,371,913
<br />Due in more than one yearDue in more than one year
<br />Long-term liabilitiesLong-term liabilities 17,146,63117,146,631 495,771495,771 17,642,402
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