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Now <br />Now <br />II IMP <br />CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1996 <br />Note 16 INTERFUND RECEIVABLE AND PAYABLES <br />Individual fund receivable and payable balances at December 31, 1996 are as follows: <br />Fund Receivable Payable <br />Special Revenue Funds: <br />Community Development Block Grant $ $2,065 <br />Capital Project Funds: <br />Area and Unit Charge 1,040,283 <br />1994 Construction 589,358 <br />1997 Construction - 117,014 <br />Town Center Project 17,789 <br />Tax Increment Financing District 1-4 - 3,081 <br />Tax Increment Financing District 1 -5 1,342 <br />Tax Increment Financing District 1-6 27,235 <br />Tax Increment Financing District 1 -7 - 181,225 <br />Tax Increment Financing District 3 -1 - 2,542 <br />Enterprise Fund: <br />Gas Utility 11,309 <br />Agency Fund: <br />Investments fund 87,323 <br />$1,040,283 $1,040,283 <br />Note 17 RISK MANAGEMENT <br />The City is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors <br />and omissions; injuries to employees; and natural disasters. <br />Workers compensation coverage is provided through a pooled self- insurance program through the League of <br />Minnesota Cities Insurance Trust (LMCIT). The City pays an annual premium to LMCIT. The City is subject <br />to supplemental assessments if deemed necessary by the LMCIT. The LMCIT reinsures through Workers <br />— Compensation Reinsurance Association (WCRA) as required by law. For workers compensation, the City is <br />not subject to a deductible. The City's workers compensation coverage is retrospectively rated. With this type <br />of coverage, final premiums are determined after loss experience is known. The amount of premium <br />adjustment, if any, is considered immaterial and not recorded until received or paid. <br />Property and casualty insurance is provided through a pooled self- insurance program through the LMCIT. <br />The City pays an annual premium to the LMCIT. The City is subject to supplemental assessments if deemed <br />necessary by the LMCIT. The LMCIT reinsures through commercial companies for claims in excess of <br />various amounts. The City retains risk for the deductible portion of the insurance policies and for any <br />exclusions from the insurance policies. These amounts are considered immaterial to the financial statements. <br />49 <br />