Details for 2020 Financial Stmt pg 2

AITKIN COUNTY AUDITED FINANCIAL STATEMENTS AND THE PAID VENDOR REPORT FOR THE YEAR ENDED DECEMBER 31, 2020
GOVERNMENT-WIDE FINANCIAL STATEMENTS (continued from previous page)
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
YEAR ENDED DECEMBER 31, 2020

General
REVENUES
Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Gifts and Contributions
Investment Earnings
Miscellaneous
Total Revenues

$

EXPENDITURES
CURRENT
General Government
Public Safety
Highways and Streets
Sanitation
Human Services
Health
Culture and Recreation
Conservation of Natural Resources
Economic Development
INTERGOVERNMENTAL
Highways and Streets
DEBT SERVICE
Principal
Interest
Total Expenditures
EXCESS OF REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Insurance Proceeds
Loans Issued
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
Fund Balance - January 1
Increase (Decrease) in Inventories
FUND BALANCE - DECEMBER 31

$

Health and
Human
Services

Road and
Bridge

8,803,954
521,172
6,880,845
850,040
1,800
64,424
579,014
17,701,249

$

2,318,550
9,019,279
515,572
87,966
11,941,367

$

Forfeited
Tax Sale

2,783,890
3,629,756
439,505
342,343
7,195,494

$

Capital
Projects

338,553
26,116
1,608,114
1,972,783

$

Nonmajor
Funds

28,357
18,998
47,355

$

Total

878,512
262,992
13,773
490,955
1,646,232

$

14,784,906
521,172
20,131,425
1,831,233
1,800
106,554
3,127,390
40,504,480

6,908,131
6,562,559
398,877
3,717
950,157
532,459
985,591

10,910,387
-

5,532,839
850,513
-

102,269
1,572,030
-

2,230,443
-

2,849
34,944
121,226
854,588
-

9,243,692
6,597,503
11,031,613
398,877
5,532,839
854,230
950,157
2,959,077
985,591

-

455,617

-

-

-

-

455,617

34,634
16,376,125
1,325,124

11,366,004
575,363

6,383,352
812,142

1,674,299
298,484

2,230,443
(2,183,088)

375,000
332,190
1,720,797
( 74,565)

409,634
332,190
39,751,020
753,460

44,784
28,500
75,209
(558,109)
(409,616)
915,508
12,607,314
13,522,822

11,955
(117,162)
(105,207)
470,156
4,172,528
(192,525)
4,450,159

334,706
334,706
1,146,848
4,021,192
5,168,040

(224,625)
(224,625)
73,859
2,314,284
2,388,143

54,871
(244,916)
(190,045)
(2,373,133)
1,235,906
(1,137,227)

445,826
(169,887)
275,939
201,374
2,521,631
2,723,005

44,784
28,500
922,567
(1,314,699)
(318,848)
434,612
26,872,855
(192,525)
27,114,942

$

$

$

$

$

$

AITKIN COUNTY, MINNESOTA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE OF GOVERNMENTAL FUNDS
TO THE GOVERNMENT-WIDE STATEMENT OF ACTIVITIES – GOVERNMENTAL ACTIVITIES DECEMBER 31, 2020
Net change in fund balances - total governmental funds
Amounts reported for governmental activities in the statement of activities are different
because:
In the funds, under the modified accrual basis, receivables not available for
expenditure are deferred. In the statement of activities, those revenues are
recognized when earned. The adjustment to revenue between the fund
statements and the statement of activities is the increase or decrease in
unavailable revenue.
Unavailable Revenue - December 31
$
3,058,626
Unavailable Revenue - January 1
(5,477,812)
Governmental funds report capital outlay as expenditures. However, in the
statement of activities, the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense. Also, in the
statement of activities, only the gain or loss on the disposal of assets is
reported; whereas, in the governmental funds, the proceeds from the sale
increase financial resources. Therefore, the change in net position differs
from the change in fund balance by the net book value of the assets sold.
Asset Adjustments
10,572,281
Current Year Depreciation
(3,724,089)
Issuing long-term debt provides current financial resources to governmental funds,
while the repayment of debt consumes current financial resources. Neither
transaction has any effect on net position. Also, governmental funds report the
net effect of premiums, discounts, and similar items when debt is first issued;

$

434,612

(2,419,186)

6,848,192

whereas, those amounts are deferred and amortized over the life of the
debt in the statement of net position.
Debt Issued
Direct Borrowing - Septic Loans
Principal Repayments
General Obligation Bonds
Direct Borrowing - Septic Loans
Decrease in joint venture does not provide current financial resources and is not
reported as revenue or expenses in the funds. (11,604)
Some expenses reported in the statement of activities do not require the use of
current financial resources and, therefore, are not reported as expenditures in
the governmental funds.
Change in Compensated Absences
Amortization of Premium
Change in Inventories
Change in Deferred Outflows of Resources - Pensions
Change in Total Other Postemployment Benefits
Change in Deferred Outflows of Resources - Other Postemployment Benefits
Change in Net Pension Liability
Change in Deferred Inflows of Resources - Pensions
Change in Deferred Inflows of Resources - Other Postemployment Benefits
Change in Net Position of Governmental Activities

(28,500)
375,000
34,634

(152,574)
8,203
(192,525)
(458,770)
(2,296)
86,300
(982,321)
2,418,172
(31,170)

381,134

693,019
5,926,167

$

PROPRIETARY FUND
AITKIN COUNTY, MINNESOTA - STATEMENT OF NET POSITION - LONG LAKE CONSERVATION CENTER ENTERPRISE FUND - DECEMBER 31, 2020
Compensated Absences Payable - Current
Due to Other Funds
$
8,322
Other Postemployment Benefits Liability - Due in Less than One Year

ASSETS
CURRENT ASSETS
Inventories
RESTRICTED ASSETS
Cash and Pooled Investments
NONCURRENT ASSETS
Capital Assets:
Nondepreciable
Depreciable - Net

Total Current Liabilities
NONCURRENT LIABILITIES
Net Pension Liability
Other Postemployment Benefits Liability - Due in More than One Year
Total Noncurrent Liabilities

2,036

15,400
2,900,200

Total Noncurrent Assets

2,915,600

Total Assets

2,925,958

DEFERRED OUTFLOWS OF RESOURCES
Deferred Pension Outflows
Deferred OPEB Outflows

9,565
170,391
17,559
187,950

Total Liabilities

197,515

DEFERRED INFLOWS OF RESOURCES
Deferred Pension Inflows
Deferred OPEB Inflows
Total Deferred Inflows of Resources
NET POSITION
Investment in Capital Assets
Restricted for:
Publications
Unrestricted
Total Net Position

13,243
1,769

Total Deferred Outflows of Resources
LIABILITIES
CURRENT LIABILITIES
Accounts Payable
Salaries Payable

3,219
343
1,714

15,012

2,315
1,974

10,011
702
10,713
2,915,600

$

2,036
(184,894)
2,732,742

AITKIN COUNTY, MINNESOTA - STATEMENT OF REVENUES, EXPENSES, AND CHANGE IN FUND NET POSITION - LONG LAKE CONSERVATION CENTER ENTERPRISE FUND
YEAR ENDED DECEMBER 31, 2020
OPERATING REVENUES
Tenant Rent
Program Packages
Resale
Miscellaneous

Resale
$

7,200
87,359
8,804
21,802

Total Operating Revenues

440,767

OPERATING LOSS

(315,602)

NONOPERATING REVENUES (EXPENSES)
Intergovernmental
Insurance Proceeds
Gain from Sale of Capital Assets

125,165

OPERATING EXPENSES
Personal Services
Employee Benefits and Payroll Taxes
Other Services and Charges
Supplies
Utilities
Advertising
Insurance
Staff Training
Postage
Depreciation

7,122

Total Operating Expenses

173,612
(21,557)
33,527
25,108
44,021
1,195
16,924
56
268
160,491

832
4,908
1,885

Total Nonoperating Revenues

7,625

LOSS BEFORE TRANSFERS

(307,977)

Transfers In

392,132

CHANGE IN NET POSITION

84,155

Net Position - January 1

2,648,587

NET POSITION - DECEMBER 31

$

2,732,742

AITKIN COUNTY, MINNESOTA - STATEMENT OF CASH FLOWS - LONG LAKE CONSERVATION CENTER ENTERPRISE FUND - YEAR ENDED DECEMBER 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from Customers and Users
Payments to Suppliers
Payments to Employees
Net Cash Used by Operating Activities
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Interfund Borrowing
Intergovernmental
Insurance Proceeds
Net Cash Provided by Noncapital Financing Activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Gain from Sale of Capital Assets
NET DECREASE IN CASH AND CASH EQUIVALENTS
Cash and Cash Equivalents - Beginning of Year
CASH AND CASH EQUIVALENTS - END OF YEAR

$

to Net Cash Used by Operating Activities
Depreciation
(Increase) Decrease in Assets and Deferred Outflows of Resources:
Inventory
Deferred OPEB Outflows
Deferred Pension Outflows
Increase (Decrease) in Liabilities and Deferred Inflows of Resources:
Accounts Payable
Salaries Payable
Compensated Absences Payable
Net Pension Liability
Deferred Pension Inflows
Total Other Postemployment Benefits Payable
Deferred OPEB Inflows

125,165
(145,096)
(297,336)
(317,267)
306,282
832
4,908
312,022

RECONCILIATION OF OPERATING LOSS TO
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Loss
Adjustments to Reconcile Operating Loss

$

3,895
(1,350)
3,386
2,036

$

(315,602)

FIDUCIARY FUNDS
AITKIN COUNTY, MINNESOTA - STATEMENT OF FIDUCIARY NET POSITION –
FIDUCIARY FUNDS - DECEMBER 31, 2020
Social Welfare
Private-Purpose
Trust Fund
ASSETS
Cash and Pooled Investments
Due From Other Governments
Taxes For Other Governments
Total Assets
LIABILITIES
Accounts Payable
Due to Other Governments
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Property Taxes Collected for Subsequent Period
NET POSITION
Restricted for:
Individuals, Organizations, and Other Governments

$

$

38,211
38,211

1,072,788
18,353
345,776
1,436,917
1,992
946,604
948,596

-

8,009
$

(15,253)
(26,412)
(20,133)
(64,969)
(39,206)
33
150
$

(317,267)

RECONCILIATION OF CASH AND EQUIVALENTS
TO THE BALANCE SHEET
Restricted Cash and Pooled Investments

$

2,036

FIDUCIARY FUNDS
AITKIN COUNTY, MINNESOTA - STATEMENT OF CHANGES IN FIDUCIARY NET POSITION –
FIDUCIARY FUNDS - DECEMBER 31, 2020

-

38,211

(1,622)
(620)
5,876

Net Cash Used by Operating Activities

Social Welfare
Private-Purpose
Trust Fund

Custodial
Funds
$

160,491

480,312

ADDITIONS
Contributions - Individuals
Intergovernmental
Property Tax Collections for Other Governments
Fee Collections for Other Governments and Organizations
License and Fees Collected for State
Recoveries
Miscellaneous
Total Additions
DEDUCTIONS
Beneficiary Payments to Individuals
Payments of Property Tax to Other Governments
Payments to State
Payments to Other Entities
Miscellaneous
Total Deductions
Net Increase (Decrease) in Fiduciary Net Position
Fiduciary Net Position - Beginning of Year
Change in Accounting Principle
Fiduciary Net Position - Beginning of Year, as Restated
FIDUCIARY NET POSITION - END OF YEAR

Published in the Aitkin Independent Age - Oct. 20, 2021
1175485, 1175487

$

$

396,052
396,052
373,965
373,965
22,087
16,124
16,124
38,211

Custodial
Funds
$

$

42,525
69,607
10,311,832
6,185
7,430,931
441,593
82
18,302,755
42,525
10,387,122
7,871,115
85,835
634
18,387,231
(84,476)
564,788
564,788
480,312

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