Management Report and Recommendations 12/31/1991

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Vow City of Lino Lakes, Minnesota Management Report, Page 36 MSA Construction The MSA Construction Fund was established in 1990 to account for the collection of assessments on MSA projects in accordance with the City's Public Improvement Financing Policy. The fund balance of this fund was $25,542 at December 31, 1991. Sealcoating This fund was established in 1991 to account for money received from private developers for future sealcoating in new housing developments. SAC Revolving The SAC Revolving Fund was established in 1990 to account for a refund from the MWCC of past SAC charges which were paid by residents that had not hooked up to the sewer system. A summary of financial activity of this fund is as follows: Revenue SAC refund Interest earning Total revenue Expenditures Fund Balance - December 31,1991 1990 $365,175 24,729 $389,904 $0 1991 Total $365,175 $22,555 47,284 $22,555 412,459 $0 0 MI= El=11C $412,459 Additionally, this fund is carrying a liability to MWCC for sewer availability charges of $24,404 relating to the Baldwin Lake Mobile Home Court which will be remitted in 1992. 1983 Construction The project consisted of installations of sewer service lines to the Baldwin Lake Mobile Home Court. This project was financed by the $100,000 Improvement Bonds of 1983. The project was completed and assessed in 1983. The fund was carrying a liability to MWCC for sewer availability charges of $24,404. This liability was transferred to the SAC Revolving Fund. This fund was closed in 1991 to the Improvement Bonds of 1983 Debt Service Fund.