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City of Lino Lakes, Minnesota
<br />Management Report, Page 20
<br />DEBT SERVICE FUNDS
<br />The combining financial statements for the debt service funds are presented in Statements 10
<br />Vow
<br />and 11 of the 1995 Annual Financial Report. Debt service funds are a type of governmental fund
<br />to account for the accumulation of resources for the payment of interest and principal on debt
<br />(other than enterprise fund debt). Debt service funds may have one or a combination of revenue
<br />sources pledged to retire debt including property taxes, tax increments, special assessments and
<br />area and unit charges.
<br />w
<br />NMI
<br />The diverse nature of the type of debt included in the same fund type requires careful analysis
<br />to determine the adequacy of the fund balance and projected fund balance. The following
<br />schedule extracts information from several sections of the 1995 Annual Financial Report to assist
<br />in this analysis. The following schedule compares outstanding debt with assets pledged for debt
<br />retirement. This comparison provides a means to judge (on a preliminary basis) the financial
<br />position of each debt service fund.
<br />December 31, 1995 Scheduled Final
<br />Fund Deferred Outstanding Property Maturity
<br />Fund Description Balance Revenue Total Debt Taxes Date
<br />General Debt:
<br />1992 Certificates of Indebtedness ($47,615) $718 ($46,897) $ - $54,679 2/1/95
<br />1994 Certificates of Indebtedness 5,243 595 5,838 75,000 82,688 12/31/96
<br />1995 Certificates of Indebtedness - 176,000 210,728 12/31/97
<br />Public Project Revenue Bonds of 1990A 173 794 930 174 724 1 090 000 1 806 214 2/1/10
<br />Total general debt 131,422 2,243 133,665 1 341,000 2,154,309
<br />Special Assessment Debt:
<br />Improvement Bonds of 1992A 390,692 204,410 595,102 3,190,000 3,217,090 2/1/06
<br />Temporary Improvement Bonds of 1994A 125,615 555,395 681,010 2,095,000 - 11/1/97
<br />Total special assessment debt 516,307 759,805 1,276,112 5,285,000 3,217,090
<br />Total - All Debt Service Funds $647 ,729 $762,048 $1,409,777 $6,626,000 $5,371,399
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