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City of Lino Lakes, Minnesota
<br />Management Report, Page 19
<br />Pledged assets may be divided into three categories: 1) Recorded as fund assets with the
<br />revenue deferred until collected (levied assessments and levied taxes); 2) Actually received by the
<br />fund and included in fund balances (collected assessments, interest, bond proceeds, etc.); and, 3)
<br />Future pledged assets not recorded as assets but intended to be collected at a future date (scheduled
<br />property taxes and estimated tax increment collections).
<br />The diverse nature of the type of debt included in the same fund type requires careful analysis
<br />to determine the adequacy of the fund balance and projected fund balance. The following schedule
<br />extracts information from several sections of the 1992 Annual Financial Report to assist in this
<br />analysis:
<br />December31, 1992 Scheduled Final
<br />Fund Deferred Outstanding Property Maturity
<br />Fund Description Balance Revenue Total Debt Taxes Date
<br />General Debt
<br />1989A Certificates of Indebtedness $2,586 $3,287 $5,873 $120,000 $140,458 5/1/94
<br />1989B Certificates of Indebtedness 68,988 2,875 71,863 175,000 138,506 2/1/95
<br />1990 Certificates of Indebtedness 1,559 885 2,444 53,500 63,699 1/1/96
<br />1991 Certificates of Indebtedness 3,188 1,427 4,615 90,000 100,241 1/1/95
<br />Public Project Revenue Bonds of 1990A 48,903 2,677 51,580 1,115,000 2,100,477 2/1/10
<br />Total general debt 125,224 11,151 136,375 1,553,500 2,543,381
<br />Special Assessment Debt
<br />Improvement Bonds of 1988 945,688 204,349 1,150,037 800,000 2/1/97
<br />Temporary Improvement Bonds of 1990B 332,130 33,402 365,532 1,015,000 8/1/93
<br />Temporary Improvement Bonds of 1991A 1,385,240 1,171,213 2,556,453 4,260,000 8/1/94
<br />Improvement Bonds of 1992A 576,176 1,139,107 1,715,283 3,640,000 4,108,344 2/1/06
<br />Total special assessment debt 3,239,234 2,548,071 5,787,305 9,715,000 4,108,344
<br />Total - All Debt Service Funds $3,364,458 $2,559,222 $5,923,680 $11,268,500 $6,651,725
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