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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 28 <br />Designations of balances by bond issue and area and unit charge type are required to monitor <br />— financing plan performance and to define discretionary construction balances available to the City. <br />The accounting system and other such systems have been modified to achieve this result. <br />Inews <br />The assessment portion which relates directly to current construction costs (lateral assessment <br />_ charges) is pledged directly to the related debt service fund to retire outstanding bonds. The area <br />and unit charge portion of the assessment roll, however, is governed by the City's policy which <br />was established by Resolution #1 -88. Such area and unit charges are contingently pledged to the <br />— <br />related debt service fund in accordance with this policy. These amounts are to be segregated to the <br />Area and Unit Charge Fund and such amounts are transferred on an as needed basis to the related <br />— debt service fund. Any surplus accruing above the amount required to retire bonds will be <br />available for expansion of the core water and sewer systems of the City. <br />During 1989 the City amended its procedure relative to adoption of assessment rolls. The <br />amended procedure requires that the City split assessment rolls between the Area and Unit Charge <br />Fund and the related Debt Service Fund. Budgeted versus actual water and sewer utility <br />connections for the period January 1, 1989 through December 31, 1992 are as follows: <br />
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