Annual Financial Report 12/31/1983

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CITY OF LINO LAKES, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1983 Note 8 - "MEMORANDUM ONLY" PRESENTATIONS - Continued • Prior year "Total" columns likewise may combine unlike purpose funds (as above) and additionally do not present detail components by fund group (as presented for current year totals) and therefore, are incomplete presentations of prior year statements of financial position, results of operations, and changes in financial position of the various funds of the City as established by generally accepted accounting principles. • Statements of Revenue, Expenditures, and Changes in Fund Balance Compared to Budget present prior year actual amounts. These amounts are incomplete presentations in that prior year budget amounts are not included in con- formance with generally accepted accounting principles. Note 9 - RESERVATIONS AND DESIGNATIONS OF FUND EQUITY At December 31, 1983 and 1982, the City had designated portions of their equity through legal restriction, City Council action, policy and /or intent. The following is a summary of these designations. General Fund: Unreserved: Designated for ensuing year's expenditures: Prepaid insurance LAWCON matching expenditures December 31, 1983 1982 21,084 $ 16,466 30,000 30,000. Special Revenue Fund: Unreserved: Designated for ensuing year's budget 11,768 16,062 Debt Service Funds: Reserved for debt service 2,361 465 Capital Project Funds: Unreserved: Designated for committed contracts 143,894 Designated for capital improvements (100,037) Designated for equipment acquisition 15,998 Designated for park improvements 10,983 Special Assessment Funds: Reserved for debt service Designated for construction 64,746 102,471 291,565 206,401 (13,240) (22,584) Totals $ 414,376 $ 414,027