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City of Lino Lakes, Minnesota
<br />Management Report, Page 31
<br />Our firm has assisted another Minnesota city in seeking a ruling request from the Internal
<br />Revenue Service which will reduce the administrative complexities of complying with the arbitrage
<br />regulations. We recommend that the City continue efforts to monitor arbitrage compliance.
<br />CAPITAL PROJECT FUNDS
<br />The financial statements for the Capital Project Funds are presented in Statements 12 and 13 of
<br />the 1990 Annual Financial Report.
<br />The fund balances (deficits) of the Capital Project Funds at December 31, 1990 and 1989 are as
<br />follows.
<br />Fund Balance (Deficit)
<br />December 31, Increase
<br />Fund 1990 1989 (Decrease)
<br />Parks and playgrounds $188,932 $201,209 ($12,277)
<br />Capital Improvement Projects 164,343 158,663 5,680
<br />Community Development Block Grant (8,512) (2,863) (5,649)
<br />Area Connection Charge 1,434,396 215,374 1,219,022
<br />Tax Increment #1 -1 289,919 145,808 144,111
<br />Tax Increment #1-2 (2,408) (7,536) 5,128
<br />SAC Revolving 389,904 0 389,904
<br />MSA Construction 15,140 0 15,140
<br />Centennial Fire Station 907,503 0 907,503
<br />1983 Construction 25,157 21,607 3,550
<br />1987 Construction 0 135,944 (135,944)
<br />1988A Construction 131,839 164,461 (32,622)
<br />1988B Construction 84,658 241,299 (156,641)
<br />1989 Construction 540,864 1,517,794 (976,930)
<br />1990 Construction 233,234 0 233,234
<br />Tax Increment #1 -3 (14,397) (10,772) (3,625)
<br />Tax Increment #1-4 (22,262) (3,279) (18,983)
<br />Interim Construction (164,931) (116,795) (48,136)
<br />Surface Water Management (92,031) (26,828) (65,203)
<br />Totals
<br />$4,101,348 $2,634,086 $1,467,262
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