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Management Report and Recommendations 12/31/1989
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Management Report and Recommendations 12/31/1989
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Management Report and Recommendations
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12/31/1989
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1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />City of Lino Lakes, Minnesota <br />Management Report, Page 4 <br />Increases in Local Government Aid (LGA) are determined by one of five different methods. <br />The maximum increase in LGA for The City of Lino Lakes for 1989 and 1990 is determined by the <br />following: <br />I. Prior year City revenue: <br />Property tax levy <br />Local government aid <br />subtotal <br />Expenditure/unlimited aid ratio applicable percentage <br />Formula aid increase <br />II. City revenue guarantee: <br />1989 - (households x per household guarantee x 1.08) <br />1990 - (households x per household guarantee x 1.04) <br />Less prior year tax capacity <br />City initial aid increase (cannot be less than zero) <br />1989 <br />$1,146,879 <br />232,472 <br />1,379,351 <br />x 6.00% <br />$82,761 <br />$1,263,453 <br />(835,103) <br />$428,350 <br />III. Prior year property tax levy $1,146,879 <br />Less prior year fiscal disparities distribution levy (208,528) <br />subtotal 938,351 <br />Statutory percent x 20.00% <br />Statutory tax base increase $187,670 <br />IV . 15% of prior year local government aid N / A <br />V . Minimum 2% increase prior to aid transfer $4,649 <br />1990 <br />$1,146,874 <br />331,225 <br />1,478,099 <br />x 2.00% <br />$29,562 <br />$1,216,659 <br />(1,305,168) <br />$0 <br />$1,146,874 <br />(250,613) <br />896,261 <br />x 20.00% <br />$179,252 <br />$49,684 <br />$6,625 <br />Assumptions: <br />Households (1988 estimate) 2,276 2,276 <br />Per household guarantee $514 $514 <br />The initial aid increase is the lesser of the first four calculations. If, however, the first four <br />calculations is less than V, then the City's initial aid increase will be the minimum 2% amount. <br />The 1991 LGA is frozen at the 1990 level under current law. <br />
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