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.11 Nor <br />low <br />City of Lino Lakes, Minnesota <br />Management Report, Page 36 <br />1 GAS UTILITY FUND <br />Portions of the City of Lino Lakes have gas service through a franchise agreement between the <br />City of Circle Pines and the City of Lino Lakes. The City of Circle Pines operates the gas utility. <br />We have reviewed the initial distribution of gas franchise profits received by the City of Lino <br />Lakes under the terms of the franchise agreement. The revenue was calculated on the following <br />basis: <br />1993 1994 <br />Residential and Commercial Revenue $398,781 @ 7% = $27,915 $374,905 @ 7% = $26,243 <br />Interruptible Service 125,360 @ 3% = 3,761 127,204 @ 3% = 3,816 <br />Total $524,141 31,676 $502,109 30,059 <br />Remitted by Circle Pines 31,675 30,059 <br />Difference <br />$1 $0 <br />The franchise agreement allows for adjustment from gross revenue of net bad debts. The City <br />of Lino Lakes had bad debts of $1,257 in 1993 and $2,100 in 1994. <br />