Management Report and Recommendations 12/31/1991

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City of Lino Lakes, Minnesota Management Report, Page 20 Aerial Map Charges The City's General Fund incurred over $20,000 of costs for aerial maps in 1987. The maps are required for water management purposes and to assist in development. On January 28, 1988, the City established a system to recover the costs of the maps. The City will charge as follows: • Sale of Maps: 1st one -half sheet = $50.00 • Sale of Maps: Additional one -half sheet = $5.00 • Per Acre Plat Charge: $10.00 • Construction Funds: 1% of construction costs Appendix A of the City's Public Improvement Financing Policy requires the City Engineer after a project is 85% to 100% completed to prepare a project cost summary . The project cost summary includes aerial photo cost recovery charges. During 1990 the City charged the following projects aerial map charges, D. Erickson 2nd Phase 1, D. Erickson Phase 2, Reshanau Phase 2A, Reshanau Phase 2B, Sunrise Meadows, and Woodridge Estates in accordance with the City's Public Improvement Financing Policy. We recommend that the City Accountant continue to charge the Construction Funds for the aerial charge directly and transfer the aerial charge when the administrative charge transfer is made. During 1991, the City collected $27,743 for the sale of aerial maps. SPECIAL REVENUE FUND The financial statements for the City's Special Revenue Fund are presented in Statements 8 and 9 of the 1991 Annual Financial Report. Special Revenue Funds are a type of governmental fund to account for the proceeds of specific revenue sources (other than expendable trusts or for major capital projects) that are legally restricted to expenditures for specified purposes. During 1990, the City adopted Resolution 33 -90 which authorized the City to establish an Economic Development Authority (EDA) pursuant to Minnesota Statutes sections 469.00 through 469.108. The EDA was established with specific powers and obligations to promote and to provide incentives for economic development within the City of Lino Lakes. The financial activity of the EDA has been reported in the City's Annual Financial Report in accordance with the National Council on Governmental Accounting Statement No. 3, Defusing the Governmental Reporting Entity. Statement No. 3 requires inclusion of the EDA due to the City Council having oversight responsibility of the EDA's activities.