City of Lino Lakes, Minnesota
<br />Management Report, Page 5
<br />Tax Increment Receivable
<br />The City had delinquent tax increments in the amount of $2,640 at December 31, 1995 as
<br />follows:
<br />TIF TIF
<br />1 -1 1 -2 Total
<br />Delinquent Balance - January 1 $2,480 $3 $2,483
<br />Current Levy 199,532 119,771 319,303
<br />Total receviable 202,012 119,774 321,786
<br />Receipts:
<br />Current 198,543 118,439 316,982
<br />Delinquent (572) (2,797) (3,369)
<br />Total receipts 197,971 115,642 313,613
<br />Unadjusted balance 4,041 4,132 8,173
<br />Adjustments:
<br />Tax forfeit property (1,401) (1,401)
<br />Net adjustments (4,132) (4,132)
<br />Delinquent balance - December 31
<br />$2,640 $0 $2,640
<br />Special Assessments Receivable
<br />Special assessments receivable consisted of the following amounts at December 31, 1994 and
<br />1995:
<br />December 31, Increase
<br />1994 1995 (Decrease)
<br />Delinquent $36,497 $37,341 $844
<br />Deferred 2,609,301 2,484,797 (124,504)
<br />City property 10,510 10,510
<br />Due from County 9,201 14,467 5,266
<br />Totals $2,665,509 $2,547,115 ($118,394)
<br />Delinquent assessments receivable consist of amounts collectible in 1995 and prior years
<br />which the City has not yet received. The assessments of City property relate to parcels purchased
<br />by the City for ponding purposes. We recommend the City determine a financing source for these
<br />assessments or delete them from the City's financial records.
<br />
|