Management Report and Recommendations 12/31/1989

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VOTO, TAUTGES, REDPATH & CO., LTD. CERTIFIED PUBLIC ACCOUNTANTS Birch Lake Professional Building • 1310 E. Hwy. 96 • White Bear Lake, MN 55110 • Fax (612) 426 -5004 • Phone (612) 426 -3263 ROBERT J. VOTO, CPA ROBERT G. TAUTGES, CPA JAMES S. REDPATH, CPA D. KENNETH GEORGE, CPA DAVID J. MOL, CPA To the Honorable Mayor and Members of the City Council City of Lino Lakes, Minnesota The Annual Financial Report of the City is complete and has been transmitted to the City Council. In conjunction with our examination of the financial statements, we have prepared this report to assist the City in the analysis of the 1989 financial statements. Financial areas which may be of particular interest to the City are as follows: Page No. 1. The State continues to make significant changes to the property tax system and State aid funding systems. 2 2. The City's General Fund increased by $185,000 in 1989. 16 3. The current special assessment collection rate is less than 70% which indicates that increased monitoring is in order. 13 4. The Area and Connection Charge Fund reflects fund balance improvement, however, comparisons to financing plan projections should be updated. 33 5. MWCC billings to the City are projected to increase by 29% in 1990. 41 In addition to the above areas, financial trend analysis has been updated throughout the report. The funding of operations of the City continue to be vulnerable to legislative actions of the State. Our firm is committed to analyzing the effects of State actions on City financing. We will continue to measure the impact on the financial outlook for the City of Lino Lakes. MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS • PRIVATE COMPANIES PRACTICE SECTION MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS MUNICIPAL FINANCE OFFICERS ASSOCIATION • MINNESOTA ASSOCIATION OF SCHOOL, BUSINESS OFFICIALS