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<br />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 />and 11 of the 1996 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 />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 1996 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, 1996 Scheduled Final
<br />Fund Deferred Outdanding Property Maturity
<br />Fund Description Balance Revenue Total Debt Taxes Date
<br />General Debt:
<br />1994 Certificates of Indebtedness S9,780 $609 $10,389 $ - $ - 12/31/96
<br />1995 Certificates of Indebtedness 5,259 673 5,932 88,000 97,944 12/31/97
<br />1996 Equipment Certificates - - 225,000 277,571 12/31/99
<br />Public Project Revenue Bonds of 1990A 181,744 802 182,546 1,065,000 1,702,159 2/1/10
<br />Total general debt 196,783 2,084 198,867 1,378,000 2,077,674
<br />Special Assessment Debt:
<br />Improvement Bonds of 1992A 131,625 92,570 224,195 2,990,000 2,869,513 2/1/06
<br />Improvement Bonds of 1996A 13 136 1,700 000 1 713 136 4 685 000 - 2/1/07
<br />Total special assessment debt 144 761 1 792,570 1,937,331 7 675 000 2,869,513
<br />Total - All Debt Service Funds $341,544 $1,794,654 $2,136,198 $9,053,000 $4,947, 187
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