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City of Lino Lakes, Minnesota
<br />Management Report, Page 27
<br />• Special Assessments. Charges to benefited properties for various improvements.
<br />In addition to the preceding pledged assets, other funding sources may be received by Debt
<br />Service Funds as follows:
<br />• Residual Project Proceeds from the Capital Project Fund
<br />• Investment Earnings
<br />• State or Federal Grants
<br />• Transfers from Other Funds
<br />Pledged assets may be divided into three categories: 1) Recorded as fund assets with the
<br />revenue deferred until collected (levied assessments and levied taxes); 2) Actually received by the
<br />fund and included in fund balances (collected assessments, interest, bond proceeds, etc.); and, 3)
<br />Future pledged assets not recorded as assets but intended to be collected at a future date (scheduled
<br />property taxes and estimated tax increment collections).
<br />The diverse nature of the type of debt included in the same fund type requires careful analysis
<br />to determine the adequacy of the fund balance and projected fund balance. The following schedule
<br />extracts information from several sections of the Annual Financial Report to assist in this analysis.
<br />December 31, 1990 Scheduled Final
<br />Fund Defected Outstanding Property Maturity
<br />Fund Description Balance Revenue Total Debt Taxes Date
<br />General Debt
<br />1989A Certificates of Indebtedness ($7,085) $1,937 (85,148) $240,000 $300,195 11 /1/88
<br />1989B Certificates of Indebtedness 60,764 1,600 62,364 275,000 276,172 2 /1/95
<br />Public Project Revenue Bonds of 1990A 5,006 0 5,006 1,115,000 2,238,899 2/1/10
<br />Total general debt 58,685 3.537 62,222 1.630,000 2,815,266
<br />Special Assessmau Debt
<br />Improvement Bonds of 1981 23,891 4,905 28,796 5,000 12/1/91
<br />Improvement Bonds of 1983 14,416 40,473 54,889 30,000 10/1/93
<br />Improvement Bonds of 1984 9,021 5,720 14,741 14,000 11/1/94
<br />Improvement Bonds of 1986 247,333 358,104 605,437 215,000 2,528 2/1/97
<br />Improvement Bonds of 1988 649,900 582,315 1,232,215 1,065,000 2/1/97
<br />Temporary Improvement Bonds of 1988 430,945 131,110 562,055 610,000 10/1/91
<br />Temporary improvement Bonds of 1989 1,171,093 1,201,078 2,372,171 4,660,000 7/1/92
<br />Temporary Improvement Bonds of 1990B 172,376 109,928 282,304 1,015,000 8/1/93
<br />Total special assessment debt 2 2,433,633 5,152,608 7,614,000 2,528
<br />Total - All Debt Service Funds 82,777,660 $2,437,170 $5,214,830 $9,244,000 $2,817,794
<br />Deferred revenue of the preceding schedule primarily consists of uncollected special
<br />assessments. The preceding schedule compares outstanding debt with: 1) fund balance; and, 2)
<br />deferred revenue.
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