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City of Lino Lakes, Minnesota <br />Management Report, Page 20 <br />_ Dedicated Parks <br />This fund was established to account for dedicated park fees. The City uses the Parks and <br />Playground Fund to collect ordinance restricted fees and donations from various groups. This <br />fund collected $56,483 of park dedication fees in 1993. The fund balance of $173,018 at <br />December 31, 1993 is available for expenditures by the City to fund capital outlay and maintenance <br />of dedicated park lands. <br />The City normally collects park dedication fees upon subdivision. The City has made <br />exceptions for the Lino Air Park development to allow for payment upon development (as opposed <br />to subdivision). The amount of the park dedication fee receivable for Lino Air Park of $4,400 has <br />been outstanding for the past eight years. The City anticipates collecting this fee when additional <br />development occurs. <br />Capital Improvement Projects Fund <br />This fund accounts for the proceeds of Equipment Certificates. The following schedule <br />summarizes the activity of this fund through December 31, 1993: <br />Prior <br />Years 1993 Total <br />Revenue and other sources: <br />Proceeds from equipment certificates $1,096,503 $150,319 $1,246,822 <br />Interest earnings 68,730 7,361 76,091 <br />Property taxes 14,554 4 14,558 <br />MSA 4,944 0 4,944 <br />Donations 16,000 0 16,000 <br />Transfer from Agency fund 0 20,156 20,156 <br />Transfer Debt Service Fund 2,390 0 2,390 <br />Total $1,203,121 . $177,840 1,380,961 <br />Expenditures: <br />Capital outlay $1,071,818 $230,574 1,302,392 <br />Fund balance - December 31, 1993 $78,569 <br />