Management Report and Recommendations 12/31/1993

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City of Lino Lakes, Minnesota Management Report, Page 6 _ A summary of assessment collections for the past four years is as follows: 1990 1991 1992 1993 Delinquent balance - January 1 $161,751 $132,985 $126,088 $118,690 Ad& Current installment 245,618 351,941 379,521 632,067 Amount collectible 407,369 484,926 505,609 750,757 Less: Current collections 168,442 293,452 306,443 580,678 Delinquent collections 107,879 65,396 82,664 39,313 Total collections 276,321 358,848 389,107 619,991 Adjustments 1,937 10 2,188 (87,730) Delinquent balance - December 31 $132,985 $126,088 $118,690 $43 036 Current collection rate Total collections as a percent of current levy 69% 83% 81% 92% 113% 102% 103% 98% As shown above, the current collection rate continues to increase. The primary funding of debt payments is special assessments. Timely collection of special assessments is required to assure timely availability of cash to meet the scheduled debt payments. We recommend the City continue to monitor the collection rate and provide supplemental financing if assessment collections are not adequate to meet bonded debt payments. The City collects special assessments through Anoka County. Beginning in 1993, the County began providing limited data regarding delinquent assessment receivables. We recommend the City continue to request improved data from the County.