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City of Orono, Minnesota
<br />Statement of Net Position
<br />December 31, 2024
<br />Governmental Business-type
<br />Activities Activities Total
<br />Assets
<br />Cash and temporary investments 14,042,834$ 3,423,731$ 17,466,565$
<br />Cash held with fiscal agent 225,259 - 225,259
<br />Receivables
<br />Accrued interest 84,191 10,030 94,221
<br />Taxes 92,187 - 92,187
<br />Accounts 58,715 565,788 624,503
<br />Special assessments 33,600 8,128 41,728
<br />Lease 658,394 - 658,394
<br />Due from other governments 1,096,552 3,372 1,099,924
<br />Prepaid items 101,272 61,719 162,991
<br />Capital assets
<br />Land and construction in progress 8,332,560 156,657 8,489,217
<br />Depreciable assets (net of accumulated depreciation) 47,310,449 21,992,409 69,302,858
<br />Total Assets 72,036,013 26,221,834 98,257,847
<br />Deferred Outflows of Resources
<br />Deferred pension resources 4,972,351 73,435 5,045,786
<br />Liabilities
<br />Accounts and contracts payable 176,719 43,910 220,629
<br />Accrued salaries payable 195,039 22,559 217,598
<br />Due to other governments 433,541 17,881 451,422
<br />Accrued interest payable 162,601 5,255 167,856
<br />Deposits payable 1,205,822 22,770 1,228,592
<br />Noncurrent liabilities
<br />Due within one year
<br />Long-term liabilities 1,293,972 122,188 1,416,160
<br />Other postemployment benefits liability - current 24,937 3,397 28,334
<br />Due in more than one year
<br />Long-term liabilities 17,039,775 418,864 17,458,639
<br />Net pension liability 3,907,064 301,440 4,208,504
<br />Other postemployment benefits liability 785,649 107,031 892,680
<br /> Total Liabilities 25,225,119 1,065,295 26,290,414
<br />Deferred Inflows of Resources
<br />Deferred lease resources 625,696 - 625,696
<br />Deferred pension resources 5,884,133 191,871 6,076,004
<br />Total Deferred Inflows of Resources 6,509,829 191,871 6,701,700
<br />Net Position
<br />Net investment in capital assets 38,658,205 21,666,516 60,324,721
<br />Restricted for
<br />Debt service 345,585 - 345,585
<br />Park improvements 74,830 - 74,830
<br />Drug and alcohol law enforcement 775,154 - 775,154
<br />Home buyer purchase assistance program 147,998 - 147,998
<br />Housing 601,467 - 601,467
<br />Unrestricted 4,670,177 3,371,587 8,041,764
<br />Total Net Position 45,273,416$ 25,038,103$ 70,311,519$
<br />The notes to the financial statements are an integral part of this statement.
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