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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1996 <br />These future scheduled tax levies are not shown as assets in the accompanying financial statements at <br />December 31, 1996 and 1995. <br />Future scheduled tax levies for all bonds outstanding at December 31, 1996 totaled $5,294,764. <br />Note 14 DESIGNATIONS AND RESERVATIONS OF FUND EQUITY <br />At December 31, 1996 and 1995 the City had designated and reserved portions of its various fund equities <br />through legal restriction and City Council authorization. Major fund equity appropriations at December 31, <br />1996 and 1995 are shown on the various balance sheets as segregations of the fund equity. A summary of such <br />designations is as follows: <br />December 31, <br />1996 1995 <br />General Fund: <br />Reserve for prepaid items $110,077 $123,673 <br />Designated for general contingencies 684,647 542,055 <br />Designated for cash flow reserve 1,596,195 1,420,503 <br />Designated for employee benefits 332,106 - <br />Special Revenue Funds: <br />Reserve for prepaid items 361 537 <br />Designated for recreation program 22,002 12,210 <br />Designated for CDBG programs 115 - <br />Debt Service Funds: <br />Reserved for debt retirement 341,544 701,502 <br />Capital Project Funds: <br />Designated for committed contracts 187,511 268,574 <br />Designated for capital improvements 10,174,577 7,468,606 <br />Designated for equipment acquisition 37,276 - <br />Designated for park improvements 252,489 249,014 <br />Totals $13,738,900 $10,786,674 <br />Note 15 SHARE IN GAS FRANCHISE PROFITS <br />The City receives a share of the gross billing for natural gas sales by a neighboring City which provides <br />service within the City of Lino Lakes. The amount reported as revenue for 1996 totaled $41,726. <br />48 <br />