Laserfiche WebLink
City of Lino Lakes, Minnesota <br />Management Report <br />Combined Financial Statement Analysis <br />COMBINED FINANCIAL STATEMENT ANALYSIS <br />The combined financial statements of the City of Lino Lakes are presented in Statements 1 <br />through 5 of the 1997 Annual Financial Report. The following comments relate to the Combined <br />Balance Sheet - All Funds (Statement 1). <br />Cash and Investments <br />Cash and investments were as follows at December 31, 1996 and 1997: <br />Description <br />Treasurer's balance - checking <br />Petty cash <br />Investments: <br />Certificates of deposit <br />Commercial paper <br />Mutual funds <br />U.S. government and agency securities <br />Municipal bond <br />Certificate of Indebtedness <br />Totals <br />December 31, Increase <br />1996 1997 (Decrease) <br />$460,307 $93,344 ($366,963) <br />400 760 360 <br />710,515 940,515 230,000 <br />5,137,749 2,925,926 (2,211,823) <br />1,364,249 1,261,881 (102,368) <br />7,187,380 9,688,224 2,500,844 <br />300,000 300,000 - <br />313,000 375,000 62,000 <br />$15,473,600 $15,585,650 $112,050 <br />O Interest on investments totaled $766,675 in 1997 and $584,838 in 1996. The increase was <br />due primarily to increased average cash and investment balances. During 1997, the City <br />amended its investment policy. The amended policy essentially follows state statutes except that <br />derivative investments allowed by statute are not permitted by the City's revised policy. The <br />above investments are in compliance with State statutes and the City's investment policy. <br />Page 4 <br />