|
City of Lino Lakes, Minnesota
<br />Management Report, Page 27
<br />1991 Construction
<br />This fund accounts for the various projects financed by the Temporary Improvement Bonds of
<br />1991A. A summary of financial activity of this fund is as follows:
<br />Financing Sources:
<br />Bond proceeds
<br />Special assessments
<br />Transfer from area and unit charge
<br />Interest earnings
<br />Refunds and reimbursements
<br />Total sources
<br />Financing Uses:
<br />Construction costs:
<br />White Tail Ridge
<br />Brandywood Estates
<br />Pheasant Hills
<br />Pine Ridge Estates
<br />Reshanau Lake Trunk
<br />Wenzel Farms
<br />Total uses
<br />Budget
<br />$3,949,214
<br />0
<br />0
<br />0
<br />0
<br />$3,949,214
<br />Actual Variance
<br />$3,947,649 ($1,565)
<br />13,360 13,360
<br />388,965 388,965
<br />73,875 73,875
<br />144,977 144,977
<br />4,568,826 $619,612
<br />$50,600 60,437 $9,837
<br />790,015 793,464 3,449
<br />583,762 714,511 130,749
<br />592,771 588,925 (3,846)
<br />1,016,286 1,232,960 216,674
<br />915,780 1,027,391 111,611
<br />$3,949,214 4,417,688 • $468,474
<br />Fund Balance - December 31, 1993 $151,138
<br />The assessments for White Tail Ridge and Brandywood Estates were adopted in 1991. The
<br />assessments for Pheasant Hills, Pine Ridge Estates, Reshanau Lake Trunk and Wenzel Farms
<br />were adopted in 1992. During 1992, the City received a reimbursement from the MWCC for a
<br />portion of the Reshanau Lake Trunk which was constructed by the City for the MWCC.
<br />Industrial Park Construction
<br />This fund was established in 1992 to account for construction costs in developing the City's
<br />industrial park. This fund had a deficit of $74,676 at December 31, 1993. The City expects to
<br />finance these improvements through the sale of property within the park and the adoption of
<br />assessments.
<br />Apollo Drive Construction
<br />This fund was established in 1992 to account for improvements to Apollo Drive. The fund
<br />balance of this fund was $379,169 at December 31, 1993.
<br />
|