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Vow <br />IMM <br />Mow <br />CITY OF LINO LAKES, MINNESOTA <br />Page 17 of 23 <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1990 <br />NOTE 2 DETAIL NOTES ON ALL FUND AND ACCOUNT GROUPS (Continued) <br />DEFICIT FUND BALANCES <br />The following funds had deficits at December 31, 1990: <br />Fund <br />Deficit <br />Special Revenue Fund: <br />Economic Development Authority $9,336 <br />Debt Service Funds: <br />1989A Certificates of Indebtedness 7,085 <br />Capital Project Funds: <br />Community Development Block Grant 8,512 <br />Surface Water Management 92,031 <br />Interim Construction 164,931 <br />Tax Increment Financing 1 -2 2,408 <br />Tax Increment Financing 1 -3 14,397 <br />Tax Increment Financing 1-4 22,262 <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 />NOTE 3 COMBINED FINANCIAL STATEMENTS <br />The Combined Financial Statements contained in this report provide a summary overview of the <br />financial position of all funds and account groups and of the operating results of all funds. Also, <br />these statements serve as an introduction to the more detailed statements which follow. The reader <br />is cautioned that these combined statements have been condensed for presentation purposes and that <br />certain disclosures contained in the combining fund and account group financial statements may <br />not be disclosed in the combined fmancial statements. <br />