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City of Lino Lakes, Minnesota <br />Management Report, Page 30 <br />_ SAC Revolving <br />The SAC Revolving Fund was established in 1990 to account for a refund from the MCES <br />(formerly MWCC) of past SAC charges which were paid by residents that had not hooked up to <br />the sewer system. <br />Ilows <br />A summary of financial activity of this fund is as follows: <br />Prior <br />Years 1995 Total <br />Revenue <br />SAC refund $365,175 $ - $365,175 <br />Interest eaming 108,339 26,752 135,091 <br />Total revenue $473,514 $26,752 500,266 <br />Expenditures $ - $ - <br />Fund Balance - December 31, 1995 $500,266 <br />1989 Construction <br />This fund accounted for the various projects financed by the Temporary Improvement Bonds <br />of 1989. These projects were completed in 1994. The remaining assets of this fund ($164,772) <br />— were transferred to the Improvement Bonds of 1992 Debt Service Fund in 1995. <br />1991 Construction <br />This fund accounted for the various projects financed by the Temporary Improvement Bonds <br />— of 1991A. These projects were completed in 1994. The remaining assets of this fund ($144,400) <br />were transferred to the Closed Debt Service Fund in 1995. <br />1993 Construction <br />This fund was closed in 1995 by transferring the remaining assets ($16,741) to the Closed <br />— Debt Service Fund. <br />