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Page 16 of 21 <br />CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1989 <br />NOTE 2 DETAIL NOTES ON ALL FUND AND ACCOUNT GROUPS (Continued) <br />DESIGNATIONS AND RESERVATIONS OF FUND EQUITY <br />Major fund equity designations at December 31, 1989 and 1988 are as follows: <br />December 31, <br />1989 1988 <br />General Fund: <br />Designated for prepaid insurance $53,290 $56,626 <br />Designated for sealcoating 40,000 <br />Debt Service Funds: <br />Reserved for debt retirement 2,302,412 978,210 <br />Capital Projects Funds: <br />Designated for capital improvements 2,228,693 1,083,709 <br />Designated for committed contracts 213,594 9,475 <br />Designated for equipment acquisition 158,663 60,059 <br />Designated for park improvements 201,209 151,454 <br />Totals $5,157,861 $2,379,533 <br />DEFICIT FUND BALANCES <br />The following funds had deficits at December 31, 1989: <br />Fund <br />Deficit <br />Debt Service Funds: <br />1989A Certificates of Indebtedness $11,475 <br />Capital Project Funds: <br />Community Development Block Grant 2,863 <br />Surface Water Management 26,828 <br />Interim Construction 116,795 <br />Tax Increment Financing 1 -2 7,536 <br />Tax Increment Financing 1 -3 10,772 <br />Tax Increment Financing 1-4 3,279 <br />The 1989A Certificates of Indebtedness deficit will be eliminated through the collection of future <br />tax levies. <br />The Capital Project Fund deficits will be funded by permanent bonding, direct charges to <br />developers, or transfers from other City Council designated funds. <br />