Audit Report 12/31/1980 - Laserfiche WebLink

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CITY OF LINO LAKES ANOKA COUNTY, MINNESOTA CAPITAL PROJECTS FUND Capital projects funds are used to account for resources, primarily proceeds from sale of general obligation bonds and grants, used for the acquisition of capital facilities of the City other than those financed by special assessment and enterprise funds. The Certificates of Indebtedness issued in 1980 to acquire public safety and street equip- ment are accounted for in this fund. SPECIAL ASSESSMENT FUNDS Special Assessment Funds are established to account for the disposition of bond proceeds or other sources obtained to finance improvements which are to be paid for, wholly or in part, from special assessments levied against benefited property. The funds also account for assessments levied against individual pro- perty owners and the use of the assessments collected to retire the related bonds. Included in this fund type are: Improvement Bond of 1974 Improvement Bond of 1977 Temporary Improvement Bond of 1979 Improvement Bond of 1980 ENTERPRISE FUND Enterprise funds are used to account for the financing of services to the general public where all or most of the costs involved are paid by charges to users of such services. In 1980 the City re- established, by Council resolution, the Water and Sewer Fund to account for those operations. GENERAL LONG -TERM DEBT GROUP OF ACCOUNTS This group of accounts contains the long -term debt of the City resulting from the issuance of general obligation bonds and Certificates of Indebtedness. The debts are obligations of the City as a whole and not of individual funds. GENERAL FIXED ASSETS GROUP OF ACCOUNTS This separate group of accounts contains the fixed assets of the-City, other than those accounted for in the Water and Sewer (Enterprise) Fund.