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City of Lino Lakes, Minnesota
<br />Management Report, Page 26
<br />Reimbursement Bond Regulations,
<br />The newly issued Treasury Regulations Section 1.103 -17 pertains to "reimbursement bonds ".
<br />Areas affected by these regulations are; all governmental bonds, all qualified 501(c)(3) or nonprofit
<br />borrowings issued after September 7, 1991 and which apply to reimbursement of previously paid
<br />expenditures. With the new regulations, the city will not be allowed to issue tax exempt bonds for
<br />expenditures it has previously paid unless it meets certain regulations. We recommend the City
<br />confer with the fiscal consultant and bonding attorney to monitor compliance with these
<br />regulations.
<br />CAPITAL PROJECT FUNDS
<br />The financial statements for the Capital Project Funds are presented in Statements 12 and 13 of
<br />the 1991 Annual Financial Report. The fund balances (deficits) of the Capital Project Funds at
<br />December 31, 1991 and 1990 are as follows.
<br />Fund
<br />Parks and playgrounds
<br />Capital Improvement Projects
<br />Community Development Block Grant
<br />Area Connection Charge
<br />Surface Water Management
<br />Centennial Fire Station
<br />Interim Construction
<br />MSA Construction
<br />Sealcoating
<br />SAC Revolving
<br />1988B Construction
<br />1983 Construction
<br />1988A Construction
<br />1989 Construction
<br />1990 Construction
<br />1991 Construction
<br />Tax Increment #1 -1
<br />Tax Increment #1-2
<br />Tax Increment #1 -3
<br />Tax Increment #1-4
<br />Totals
<br />Fund Balance (Deficit)
<br />December 31,
<br />1991 1990
<br />Increase
<br />(Decrease)
<br />$220,620 $188,932 $31,688
<br />142,852 164,343 (21,491)
<br />(13,958) (8,512) (5,446)
<br />1,981,364 1,434,396 546,968
<br />(23,182) (92,031) 68,849
<br />84,072 907,503 (823,431)
<br />(183,653) (164,931) (18,722)
<br />25,542 15,140 10,402
<br />2,801 0 2,801
<br />412,459 389,904 22,555
<br />20,938 84,658 (63,720)
<br />0 25,157 (25,157)
<br />0 131,839 (131,839)
<br />290,101 540,864 (250,763)
<br />77,218 233,234 (156,016)
<br />194,579 0 194,579
<br />500,393 289,919 210,474
<br />68,220 (2,408) 70,628
<br />(16,535) (14,397) (2,138)
<br />(10,379) (22,262) 11,883
<br />$3,773,452 $4,101,348 ($3271896)
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