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Management Report and Recommendations 12/31/1992
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Management Report and Recommendations 12/31/1992
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Management Report and Recommendations
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12/31/1992
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City of Lino Lakes, Minnesota <br />Management Report, Page 25 <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 $42,950 of park dedication fees in 1992. The fund balance of $204,536 at <br />December 31, 1992 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, 1992: <br />Proceeds from issuance of 1981 Certificates $111,400 <br />Proceeds from issuance of 1985 Certificates 107,500 <br />Proceeds from issuance of 1987 Certificates 78,260 <br />Proceeds from issuance of 1989 Certificates 300,566 <br />Proceeds from issuance of 1989B Certificates 275,000 <br />Proceeds from issuance of 1990 Certificates 88,642 <br />Proceeds from issuance of 1991 Certificates 135,135 <br />Interest earnings 68,730 <br />Property taxes 14,554 <br />State - MSA, Computer purchase 4,944 <br />Donations 16,000 <br />Transfer from Debt Service Fund 2,390 <br />Total revenue and other sources <br />Expenditures: <br />1981 - 1991 <br />1992 <br />Total expenditures <br />916,356 <br />155,462 <br />$1,203,121 <br />1,071,818 <br />Fund Balance - December 31, 1992 $131,303 <br />After the scheduled purchases of equipment are made in 1992, the remaining fund balance <br />should be closed to the related Certificates of Indebtedness Debt Service Fund (or be expended on <br />qualifying equipment purchases). <br />
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