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City of Lino Lakes, Minnesota <br />Management Report, Page 42 <br />Interim Construction <br />The Interim Construction Fund was established in 1985 to account for the preliminary <br />construction costs prior to permanent bonding or other financing determination. The various <br />projects accounted for in this fund are detailed in exhibit 4 of the 1990 Annual Financial Report. <br />The fund balance of this fund was a deficit of $164,931 at December 31, 1990. We recommend <br />the City review the status of the various projects in this fund and determine financing sources to <br />eliminate the deficit of this fund. <br />MSA Construction <br />The MSA Construction Fund was established in 1990 to account for the collection of <br />assessments on MSA projects in accordance with the City's Public Improvement Financing Policy. <br />SAC Revolving <br />The SAC Revolving Fund was established in 1990 to account for a refund from the MWCC of <br />past SAC charges which were paid by residents that had not hooked up to the sewer system. <br />1983 Construction <br />The project consisted of installations of sewer service lines to the Baldwin Lake mobile home <br />court. This project was financed by the $100,000 Improvement Bonds of 1983. The project was <br />completed and assessed in 1983. The fund is carrying a liability to MWCC for sewer availability <br />charges of $24,404. We recommend that the City remit this money to MWCC in 1991. <br />Maw <br />This project was complete at December 31, 1986. We recommend that this fund be closed in <br />— 1991 to the Improvement Bonds of 1983 debt service fund. Council authorization is required to <br />effect this closing. <br />1987 Construction <br />Final bituminous paving was completed during 1990 for the 1987 projects. This fund was <br />closed into the 1990 B Temporary Improvement Debt Service Fund. <br />1988A Construction <br />This fund accounts for the various projects financed by the Permanent Improvement Bonds of <br />1988. Final bituminous wearing surfaces have been completed for all 1988 A projects. We <br />recommend that the City close this fund in 1991 into the Improvement Bonds of 1988 Debt Service <br />Fund. <br />