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City of Lino Lakes, Minnesota <br />Management Report, Page 37 <br />Total Number Lots/Units <br />Total Budgeted Connections <br />Sewer Connections <br />1987 1988 1989 1990 <br />Temporary Temporary Temporary Temporary Total All <br />Bonds Bonds Bonds Bonds Bonds <br />206 76 748 16 1,046 <br />206 76 568 16 866 <br />Budgeted 1989 166 47 0 0 213 <br />Actual 1989 62 44 103 0 209 <br />1989 Variance (104) (3) 103 0 (4) <br />Budgeted 1990 40 29 169 0 238 <br />Actual 1990 7 15 354 0 376 <br />1990 Variance (33) (14) 185 0 138 <br />1990 Cumulative <br />Variance Year -end (137) (17) 288 0 134 <br />Budgeted 1991 0 0 229 10 239 <br />Actual to Date 1991 1 3 14 3 21 <br />1991 Variance 1 3 (215) (7) (218) <br />1991 Cumulative <br />Variance Year -end (136) (14) 73 (7) (84) <br />Budgeted 1992 0 0 170 6 176 <br />Actual to Date 1992 0 0 0 0 0 <br />1992 Variance 0 0 (170) (6) (176) <br />Balance Required Over /(Under) (136) (14) (97) (13) (260) <br />In October of 1991 the City will have to obtain permanent financing for the Temporary <br />Improvement Bonds of 1988. Collection of actual area and connection charges should be <br />compared to the above scheduled collections to assure that projections are being met prior to <br />obtaining permanent financing. Our office is available to assist city staff in obtaining this <br />information. <br />Centennial Fire Station <br />This fund was established by the City's EDA in 1990 to account for construction costs of the <br />City's new Fire Station. The bond proceeds for this project are being held at First Trust and the <br />City must submit qualifying expenditures to First Trust for reimbursement. The $74,968 cash <br />overdraft in this fund represents expenditures incurred by the City and not submitted to First Trust <br />for reimbursement. We recommend that the City request reimbursements from First Trust in a <br />timely manner, which in time, will increase the City's cash flow and interest earnings. <br />