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IIIMP <br />— <br />the City of Circle Pines and the City of Lino Lakes. The City of Circle Pines operates the gas <br />utility. <br />City of Lino Lakes, Minnesota <br />Management Report, Page 40 <br />GAS UTILITY FUND <br />Portions of the City of Lino Lakes have gas service through a franchise agreement between <br />We have reviewed the initial distribution of gas franchise profits received by the City of Lino <br />— Lakes under the terms of the franchise agreement. The revenue was calculated on the following <br />basis: <br />■ <br />1994 1995 <br />Residential and Commercial Revenue $374,905 0 7% = $26,243 $388,417 0 7% = S27,189 <br />Interruptible Service 127,204 0 3% = 3,816 109,892 0 3% = 3,297 <br />Total S502,109 30,059 S498,309 30,486 <br />Remitted by Circle Pines <br />Difference <br />30,059 30,486 <br />SO SO <br />— The franchise agreement allows for adjustment from gross revenue of net bad debts. The City <br />of Lino Lakes had bad debts of $2,100 in 1994 and $1,830 in 1995. <br />