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City of Lino Lakes, Minnesota <br />Management Report, Page 33 <br />Tax Increment Financing #1 -2 <br />The City established Tax Increment Financing District #1 -2. This district qualifies as a <br />Economic Development TIF district pursuant to Minnesota Statutes 469.174, subdivision 12. <br />Financial activity of this fund from inception is as follows: <br />Prior Years <br />1996 Total <br />Revenue and other sources: <br />Tax increments $555,196 $120,258 $675,454 <br />Interest on investments 55,980 3,444 59,424 <br />Total revenue and other sources 611,176 123,702 734,878 <br />Expenditures and other uses: <br />Administrative $57,517 1,500 59,017 <br />Professional services - 802 802 <br />Transfer to Area and Unit Charge Fund 512,196 512,196 <br />Transfers to other funds 12,594 12,594 <br />Total expenditures and other uses $582,307 $2,302 584,609 <br />Fund balance - December 31, 1996 $150,269 <br />Included in administrative expenses is an administrative fee of $18,500. The transfer to the <br />Area and Unit Charge Fund represents a reimbursement for costs of the West Central Trunk <br />sewer main related to Sunrise Meadows. <br />