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Imam <br />TAUTGES, REDPATH & CO., LTD. <br />CERTIFIED PUBLIC ACCOUNTANTS <br />To the Honorable Mayor and <br />Members of the City Council <br />City of Lino Lakes, Minnesota <br />The first part of this report analyzes the actual and proposed changes in funding for Cities. This <br />information is presented to allow for an understanding of 1) aid cuts and shifts on a Statewide basis <br />and 2) aid cuts and shifts as they specifically affect the City of Lino Lakes. This report also presents <br />updated trend analysis to illustrate the impact of the changes on the overall funding of basic <br />governmental services of the City. <br />The balance of this report updates financial analysis of funds and account balances of the City. <br />•— Financial areas which may be of particular interest to the City are as follows: <br />w <br />1. The State continues to make significant changes that offset City finances. <br />2. Delinquent special assessments at December 31, 1991 are $126,088. A <br />substantial portion (77 %) relates to a single project. <br />3. General Fund Balance increased by $95,612 during 1991 to a fund balance <br />of $1,265,236 at December 31, 1991. <br />4. The Water and Sewer Operations continue to reflect net decreases in retained <br />earnings. <br />Page No. <br />2 <br />13 <br />16 <br />39 <br />The challenges facing local government in Minnesota continue to increase as financing becomes less <br />stable. We are available to discuss this report with the City upon request. <br />Respectfully submitted, <br />TAUTGES, REDPATH & CO., LTD. <br />Certified Public Accountants <br />May 6, 1992 <br />4810 White Bear Parkway • White Bear Lake, Minnesota 55110 • 612/426 -7000 • FAX /426 -5004 <br />