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Audit Report 12/31/1979
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Audit Report 12/31/1979
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Audit Report 12/31/1979
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12/31/1979
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CITY OF LINO LAKES <br />ANOKA COUNTY, MINNESOTA <br />PLAN OF GOVERNMENT <br />The City of Lino Lakes operates under "Plan A" as defined in the State of Minnesota <br />Statutes. Under this plan the government of the City is run by a council composed <br />of an elected mayor and four elected councilmen. The council exercises legislative <br />authority and determines all matters of policy. The council appoints administrative <br />personnel who are responsible for the proper administration of all affairs relating <br />to the City. <br />DESCRIPTION OF FUNDS <br />GENERAL FUND <br />The General Fund was established to account for the revenue and expenditures <br />necessary to provide basic governmental services for the city. The principal sources <br />of revenue are property taxes, intergovernmental revenue, licenses and permits, and <br />charges for current services. Expenditures are for general government, general ser- <br />vices, protective inspection and other functions. A plan of financial operation is <br />set forth each year in the form of the annual budget adopted by the council. <br />SPECIAL REVENUE FUNDS <br />Special Revenue Funds are established to account for the proceeds from special tax <br />levies and other dedicated revenues to be used for a specified purpose. The <br />following funds are included in this group: <br />Parks and Playgrounds Fund <br />Revenue Sharing Fund <br />DEBT SERVICE FUND <br />The Debt Service Fund is used to account for the payment of principal and interest on <br />general obligation bonds issued by the City. They are retired out of the revenue <br />provided by ad valorem levies established for that purpose. Revenue and Special <br />Assessment bonds are not included in this group. They are serviced out of their <br />respective funds. The fund is used to retire the Municipal Building Bonds of 1970. <br />- 2 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />
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