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City of Lino Lakes, Minnesota <br />Management Report, Page 25 <br />Sealcoating <br />This fund was established in 1991 to account for money received from private developers for <br />future sealcoating in new housing developments. A summary of transactions of this fund is as <br />follows: <br />Prior <br />Years 1994 Total <br />Revenue and other sources: <br />Special assessments $234,424 $63,489 $297,913 <br />Interest earnings 7,597 5,694 13,291 <br />Refunds and reimbursements 24,850 33,900 58,750 <br />Total $266,871 $103,083 369,954 <br />Expenditures $109,824 $111,010 220,834 <br />Fund balance - December 31, 1994 $149,120 <br />SAC Revolving <br />The SAC Revolving Fund was established in 1990 to account for a refund from the MCWS <br />(formerly MWCC) of past SAC charges which were paid by residents that had not hooked up to <br />the sewer system. <br />A summary of financial activity of this fund is as follows: <br />Prior <br />Years 1994 Total <br />Revenue <br />SAC refund $365,175 $ - $365,175 <br />Interest earning 92,099 16,240 108,339 <br />Total revenue $457,274 $16,240 473,514 <br />Expenditures $ - $ - 0 <br />Fund Balance - December 31, 1994 $473,514 <br />