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City of Lino Lakes, Minnesota <br />Management Report <br />Combined Financial Statement Analysis <br />The OSA has several staff assigned to monitor submitted reporting forms and to perform a <br />more detailed audit of various districts. Lino Lakes has not been selected for an audit of its tax <br />increment transactions. <br />LI The OSA pursued legislation to withhold increment from cities that fail to submit their TIF <br />reporting forms. The legislation also extended the reporting deadling from July 1 to August 1, <br />and allows withholding 25% percent of the December tax increment distribution for failure to <br />comply. <br />Cq We recommend that the City carefully comply with all tax increment laws including <br />reporting requirements. <br />Special Assessments Receivable <br />Special assessments receivable consisted of the following amounts at December 31, 1996 <br />and 1997: <br />December 31, Increase <br />1996 1997 (Decrease) <br />Delinquent $21,040 $6,689 ($14,351) <br />Deferred 4,785,037 5,827,397 1,042,360 <br />Due from County 2,926 4,077 1,151 <br />Totals $4,809,003 $5,838,163 $1,029,160 <br />Delinquent assessments receivable consist of amounts collectible in 1997 and prior years <br />which the City has not yet received. Deferred assessments consist of amounts certified which <br />will become collectible in future years. <br />Page 11 <br />