Audit Report 12/31/1966 - Laserfiche WebLink

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Village of Lino Lakes Anoka County, NLnneaotss CAS ON BALANCE SHEET ITEMS E hibit A creeento the financial condition of the Village by funds as of Deceuber 31, 1966. Details on baience sheet items are shown in Schedules A-1 through A -6. Further eeplenatione, analyse$, or listings are presented in y a the next several paragraphs of these cc u nts. CASH IN BAN - $_13,274.30: The Centennial State Bank of Laxtneton had teen designated 23 the depository for village funds. Collateral or. $20,000 in U S. Government bonds was pledged by the beak no eacarrity for village yunde on deposit. poem comelete protection of village fuude as ra u_r d by ineesote State Stature &, the Council should request n a?ddit oi`,el $20,000.00 in collateral from the bank. Cast: in bank vas verified by teetthg the transactions, by communicating directly with the depository, and by reconciliation as shown in Schedule A -1. Temporary excess fronds hod been placed on certificates of interest fora total of $10,000.00, ea mine interest at 4.11 %. TAXES RECEIVABLE - $4B 1!8.23: Current tai as e e the a which were ,placed on the 1966 levy and are collectible in 1967. They omeent to $ %4,035.O0, as detailed in Schedule A -2 by funds. Delinquent teeea are those levied for prior years, which are due, but have not been collected. These taxes am -anted to $4,083.23, cowering the past six years, as sunnerieed in Scherule A-4. SPECIAL ASSESSMENTS RECEIVABLE - $7567.31:. These assessments have been mde agoinet thorn property owners directly benefiting by village i :rovemeatc. eseassments nay be paid all at once or in equal annual installments uif h interest added et 6% from the assessment date. All the assessmente assessments had been tueneci over to the minty Auditor for collection on the to rslle. For €s description of tetras used we Hight state that current assessments consist of the installments collectible on the tax rolls during the year 1967. Deferred esseesments consist of tha kemei ling balances duo in feature years. Delinquent 8so336t2 tiro era the e collected balances remaining on prior tax rolls. The special arssseses nts are summarized and classified by funds in the following schwdu /es: Schedule A -3 Current encasements $3,798.12 Schedule i -3 Deferred Assessments 3,728.94 Schedule A-4 Delinquent Assessments 40.45 Total T - 2 $7.567.51 =r