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City of Lino Lakes, Minnesota <br />Management Report <br />Capital Project Funds <br />Surface Water Management Fund <br />This fund was established in 1989 to account for the financing of surface water <br />management planning and storm sewer trunk lines. During 1990, the City levied its first <br />assessments for surface water management charges. The cost of the plan will be financed by <br />developer charges. The City is in the process of implementing items identified by the Surface <br />Water Management Plan. <br />Interim Construction <br />The Interim Construction Fund was established in 1985 to account for the preliminary <br />construction costs prior to permanent bonding or other financing determination. The fund <br />balance of this fund was $17,370 at December 31, 1997. <br />Sealcoating <br />This fund was established in 1991 to account for money received from private developers <br />for future sealcoating in new housing developments. A summary of transactions of this fund is <br />as follows: <br />Prior <br />Years 1997 Total <br />Revenue and other sources: <br />Special assessments $391,238 $59,222 $450,460 <br />Interest earnings 33,664 14,837 48,501 <br />Refunds and reimbursements 98,296 116,903 215,199 <br />Intergovernmental - 16,000 16,000 <br />Total $523,198 $206,962 730,160 <br />Expenditures $250,473 $202,484 452,957 <br />Fund balance - December 31, 1997 $277,203 <br />Page 45 <br />