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City of Lino Lakes, Minnesota <br />Management Report <br />Executive Summary <br />Page 3 <br />Other revenue sources of the General Fund decreased primarily because <br />of less license and permit revenue. <br />Page 14 <br />IN <br />O <br />The City has adopted a General Fund reserve policy and has $3 million <br />of reserves designated at December 31, 1997. <br />Pages 22 -24 <br />Cg> <br />We recommend that the financial position of each Debt Service Fund be <br />evaluated at least annually. <br />Page 29 <br />C> <br />We recommend that the City continue efforts to monitor area and <br />connection charges compared to debt service requirements. <br />Page 34 <br /><:› <br />We recommend that the City improve contract management systems. <br />Pages 44 -45 <br />a <br />Determine a funding source for the deficit of the 1994 Construction <br />Fund and close the fund upon completion of costs. <br />Page 48 <br />QC* <br />Research TIF compliance relative to the transfer of remaining amounts <br />to the Town Center (or Town Center Infrastructure) Fund. <br />Page 50 <br /><g> <br />Consider closing the Gas Utility Fund. <br />Page 59 <br />C4> <br />Consider amending either the City charter or City practices with respect <br />to modern financial management concepts for cities. <br />Page 63 <br />> <br />Consider adopting a formal purchasing policy. <br />Page 63 <br />O <br />The City received the Certificate of Achievement for Excellence in <br />Financial Reporting. <br />Page 65 <br />Ct. <br />Monitor efforts to assure 2000 compliance. <br />Page 66 <br />p <br />Consider a re- evaluation of systems to prevent fraud. <br />Page 66 <br />q <br />Consider a re- evaluation of pricing services. <br />Page 69 <br />Page 3 <br />