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Honorable Mayor and
<br />Members of the City Council
<br />City of Lino Lakes
<br />Area and Unit Charge Fund (Continued)
<br />During 2009, transfers of $81,300, $447,400, $71,122 and $114,537 were made to the Improvement
<br />Refunding Bonds of 2003A, Improvement Bonds of 2005B, Utility Revenue Bonds of 2006D and TIF
<br />Bonds 2007A debt service funds.
<br />DEBT SERVICE FUNDS
<br />Debt service funds are a type of governmental fund used to account for the accumulation of resources
<br />for the payment of principal and interest on general obligation debt (other than enterprise fund debt).
<br />Debt service funds may have one or a combination of revenue sources pledged to retire debt including
<br />property taxes, tax increments, special assessments and area and unit charges.
<br />The diverse nature of the type of debt included in the same fund type requires careful analysis to
<br />determine the adequacy of the fund balance and projected fund balance. The following schedule
<br />extracts information from Exhibits 2 and 3 of the 2009 Annual Financial Report to assist in this analysis.
<br />The following schedule compares outstanding debt with assets pledged for debt retirement. This
<br />comparison provides a means to judge (at least on a preliminary basis) the financial position of each
<br />individual debt service fund.
<br />December 31, 2009 Deferred Total Remaining Over
<br />Fund Deferred Tax Resources Debt Service (Under)
<br />Fund Description Balance Revenue Total Levies Available Scheduled Funded
<br />General Debt:
<br />Certificates of Indebtedness
<br />Lease Revenue Bonds of 1998A
<br />Public Project Revenue Bonds 1999C
<br />Tax Abatement Bonds 2006C
<br />Utility Revenue Bonds 2006D
<br />CIP Refunding Bonds 2006E
<br />TIF Bonds 2007A
<br />Special Assessment Debt:
<br />Improvement Bonds of 2002A
<br />Improvement Bonds of 2002B
<br />Improvement Bonds of 2003A
<br />Improvement Bonds of 2003B
<br />Improvement Bonds of 2004A
<br />Improvement Bonds of 2005A
<br />Refunding Imp. Bonds of 2005B
<br />$ 123,353 $ 11,972 $ 135,325 $ 604,354 $ 739,679 $ 575,575 $ 164,104
<br />480,304 7,430 487,734 - 487,734 120,750 366,984
<br />358,929 5,016 363,945 363,945 92,295 271,650
<br />56,033 4,572 60,605 3,522,599 3,583,204 3,406,572 176,632
<br />34,836 147,432 182,268 182,268 551,819 (369,551)
<br />141,708 7,706 149,414 3,633,630 3,783,044 3,600,400 182,644
<br />155,038 - 155,038 5,619,261 5,774,299 5,270,207 504,092
<br />$ 1,350,201 $ 184,128 $ 1,534,329 $ 13,379,844 $ 14,914,173 $ 13,617,618 $ 1,296,555
<br />$ 250,676 $ 77,477 $ 328,153 $ 23,476 $
<br />798,878 299,368 1,098,246 -
<br />96,244 154,916 251,160 -
<br />73,623 45,027 118,650 109,004
<br />286,879 147,513 434,392 1,387,402
<br />(558,443) 5,625,797 5,067,354 6,279,455
<br />600,848 270,388 871,236 2,536,998
<br />351,629
<br />1,098,246
<br />251,160
<br />227,654
<br />1,821,794
<br />11, 346, 809
<br />3,408,234
<br />$ 119,305
<br />1,084,447
<br />801,270
<br />171,413
<br />1,281,345
<br />6,401,435
<br />2,891,657
<br />$ 232,324
<br />13,799
<br />(550,110)
<br />56,241
<br />540,449
<br />4,945,374
<br />516,577
<br />$ 1,548,705 $ 6,620,486 $ 8,169,191 $ 10,336,335 $ 18,505,526 $ 12,750,872 $ 5,754,654
<br />Note: Deferred revenue in the above table does not include the future scheduled "interest portion" of
<br />the adopted assessment rolls. The Improvement Refunding Bonds of 2003A, Improvement Bonds of
<br />2005B, Utility Revenue Bonds of 2006D and TIF Bonds 2007A Bonds also include a pledge from the
<br />Area and Unit Fund that has not been included above.
<br />(3)
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