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City of Lino Lakes, Minnesota <br />Management Report <br />Combined Financial Statement Analysis <br />Tax Increment Receivable <br />The City had delinquent tax increments in the amount of $2,726 at December 31, 1997 as <br />follows: <br />1996 1997 <br />Delinquent balance - January 1 $2,640 $1 <br />Current levy 377,093 501,181 <br />Total receviable 379,733 501,182 <br />Receipts: <br />Current 375,669 498,470 <br />Delinquent 2,638 59 <br />Total receipts 378,307 498,529 <br />Unadjusted balance 1,426 2,653 <br />Adjustments: <br />Net adjustments (1,425) 73 <br />Delinquent balance - December 31 $1 $2,726 <br />The City is required by statute to expend tax increment revenues exclusively for qualified <br />purposes. In 1995, legislation was passed transferring the oversight of tax increment compliance <br />from the Commissioner of Revenue to the Office of the State Auditor (OSA). Increased <br />compliance reporting was one of the first actions taken. The City of Lino Lakes completed the <br />1996 reporting forms in May, 1997. <br />