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City of Lino Lakes, Minnesota
<br />Management Report
<br />Capital Project Funds
<br />Closed Bond Fund
<br />During 1996 the City reclassified the Closed Bond Fund from a Debt Service Fund to a
<br />Capital Project Fund type. The Closed Bond Fund accounts for excess funds from matured bond
<br />issues.
<br />Dedicated Parks
<br />This fund was established to account for dedicated park fees. The City uses the Dedicated
<br />Parks Fund to collect ordinance restricted fees and donations from various groups. This fund
<br />collected $42,560 and $71,081 of park dedication fees in 1996 and 1997, respectively. The fund
<br />balance of $309,982 at December 31, 1997 is available for expenditures by the City to fund
<br />capital outlay and maintenance of dedicated park lands.
<br />Capital Improvement Projects Fund
<br />This fund accounts for the proceeds of Equipment Certificates and, beginning in 1997,
<br />antenna rentals. The following schedule summarizes the activity of this fund through December
<br />31, 1997:
<br />Prior
<br />Years 1997 Total
<br />Revenue and other sources:
<br />Proceeds from equipment certificates $1,797,822 $225,000 $2,022,822
<br />Interest earnings 86,481 8,410 94,891
<br />Property taxes 14,560 - 14,560
<br />Intergovernmental 4,944 44,720 49,664
<br />Antenna rentals - 55,250 55,250
<br />Donations 18,686 - 18,686
<br />Miscellaneous 1,840 8,000 9,840
<br />Transfer from General Fund 24,000 - 24,000
<br />Transfer from Agency fund 20,156 20,156
<br />Transfer from Debt Service fund 2,390 2,390
<br />Total $1,970,879 $341,380 2,312,259
<br />Expenditures:
<br />Current, capital outlay and construction
<br />$1,933,603 $401,014 2,334,617
<br />Fund balance (deficit) - December 31, 1997 ($22,358)
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