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City of Lino Lakes, Minnesota <br />Management Report, Page 16 <br />The contingent employee benefit reserve is equal to an amount computed at December 31 for <br />accrued vacation and sick leave. <br />A summary of these reserves is as follows: <br />Reserve/Designation <br />Reserve General <br />Requirement Fund <br />Per City Balance <br />Policy Available Difference <br />Prepaid items $77,789 $77,789 $0 <br />Cash flow 933,255 933,255 0 <br />General contingency 421,411 385,204 36,207 <br />Contingent employee benefits 229,771 0 229,771 <br />Equipment purchases 10,048 (10,048) <br />Totals $1,662,226 $1,406,296 $255,930 <br />Without adequate General Fund reserve, the independence and autonomy of the City may be <br />impaired. The City of Lino Lakes has improved the financial position of its General Fund over the <br />past several years. We commend the City for these actions and encourage the City to continue to <br />monitor this reserve balance. An adequate reserve structure will enable the City to retain its <br />financial independence and integrity during adverse economic conditions. <br />