Financial Analysis & Management Considerations Report 12/31/1997

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City of Lino Lakes, Minnesota Management Report Capital Project Funds Tax Increment Financing #1 -2 The City established Tax Increment Financing District #1 -2. This district qualifies as a Economic Development TIF district pursuant to Minnesota Statutes 469.174, subdivision 12. Financial activity of this fund from inception is as follows: Prior Years 1997 Total Revenue and other sources: Tax increments $675,454 $122,111 $797,565 Interest on investments 59,424 2,178 61,602 Total revenue and other sources 734,878 124,289 859,167 Expenditures and other uses: Administrative $59,017 59,017 Professional services 802 1,584 2,386 Capital outlay 39,202 39,202 Transfer to Area and Unit Charge Fund 512,196 - 512,196 Transfers to other funds 12,594 12,594 Total expenditures and other uses $584,609 $40,786 625,395 Residual equity transfer - Town Center Infrastrucutre (233,772) Fund balance - December 31, 1997 $ - Included in administrative expenses is an administrative fee of $18,500. The transfer to the Area and Unit Charge Fund represents a reimbursement for costs of the West Central Trunk sewer main related to Sunrise Meadows. This District was decertified in 1997. The remaining funds were transferred to the Town Center Infrastructure Fund. Tax Increment Financing #1-4 The City established Tax Increment District #1 -4 during 1990 by resolution 10 -90. District #1 -4 is an Economic Development District. The duration of the district is eight years from the date of the receipt of the first increment or ten years from the date of approval of the TIF plan. At December 31, 1997 this fund had a deficit balance of $40,992. Page 51