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City of Lino Lakes, Minnesota <br />Management Report, Page 29 <br />Sealcoating <br />This fund was established in 1991 to account for money received from private developers for <br />future sealcoating in new housing developments. A summary of transactions of this fund is as <br />follows: <br />Prior <br />Years 1996 Total <br />Revenue and other sources: <br />Special assessments $328,082 $63,156 $391,238 <br />Interest earnings 22,591 11,073 33,664 <br />Refunds and reimbursements 73,623 24,673 98,296 <br />Total $266,871 $98,902 523,198 <br />Expenditures $220,868 $29,605 250,473 <br />Fund balance - December 31, 1996 $272,725 <br />SAC Revolving <br />The SAC Revolving Fund was established m 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 />A summary of financial activity of this fund is as follows: <br />Prior <br />Years 1996 Total <br />Revenue <br />SAC refund $365,175 $ - $365,175 <br />Interest earning 135,091 24,289 159,380 <br />Total revenue $500,266 $24,289 524,555 <br />Expenditures $ - $ - <br />Fund Balance - December 31, 1996 $524,555 <br />