Management Report and Recommendations 12/31/1991

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City of Lino Lakes, Minnesota Management Report, Page 31 fewer Connections 1987 1988 1989 1990 1991 Temporary Temporary Temporary Temporary Temporary Total All Bonds Bonds Bonds Bonds Bonds Bads Total Number Lots/Units 120 76 748 16 639 1,599 Total Budgeted Connections 120 76 568 16 639 1,419 Budgeted 1989 166 47 0 0 0 213 Actual 1989 62 44 103 0 0 209 1989 Variance (104) (3) 103 0 0 (4) Budgeted 1990 40 29 169 0 0 238 Actual 1990 7 15 335 0 0 357 1990 Variance (33) (14) 166 0 0 119 1990 Cumulative Variance Year -end (137) (17) 269 0 0 115 Budgeted 1991 0 0 229 10 94 333 Actual to Date 1991 5 7 163 12 29 216 1991 Variance 5 7 (66) 2 (65) (117) 1991 Cumulative Variance Year -end (132) (10) 203 2 (65) (2) Budgeted 1992 0 0 170 6 115 291 Actual to Date 1992 0 0 0 0 0 0 1992 Variance 0 0 (170) (6) (115) (291) Balance Required Over /(Under) (132) (10) 33 (4) ....._11821. In March of 1992 the City obtained permanent financing for the Temporary Improvement Bonds of 1989. Collection of actual area and unit charges should be compared to the above scheduled collections to assure that projections are being met prior to obtaining permanent fmancing. Centennial Fire Station This fund was established by the City's EDA in 1990 to account for construction costs of the City's new Fire Station. The bond proceeds for this project are being held at First Trust and the City must submit qualifying expenditures to First Trust for reimbursement. The $19,783 cash overdraft in this fund represents expenditures incurred by the City and not submitted to First Trust for reimbursement.