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City of Lino Lakes, Minnesota 1 <br />Management Report, Page 29 <br />financed by the 1988 Improvement Bonds. The project was completed and assessed during 1987. <br />This fund was closed into the Temporary Bonds of 1987 Debt Service Fund during 1988. <br />Main Street <br />This fund was established in 1986 to account for Main Street Improvements. This project was <br />financed by the Improvement Bonds of 1988. The project was completed and assessed in 1988. <br />We recommend that this fund be closed in 1989 to the Improvement Bonds of 1988 Debt Service <br />Fund. <br />West Shadow Lake Drive <br />This fund was established in 1986 to account for the West Shadow Lake Drive. This project <br />may not be constructed. The City should determine if existing costs will be included in future <br />construction. If prior costs will not be included in future construction, we recommend that the City <br />designate a financial source and eliminate this fund in 1989. <br />Sunset Road <br />This fund was established in 1986 to account for the Sunset Road Improvements. This project <br />was financed by the Improvement Bonds of 1986. This project was assessed in 1986. The City is <br />waiting for the completion of a joint powers agreement with the City of Blaine. After completion <br />of the agreement, the City will be billed for its portion of the project. We recommend that this fund <br />be closed to the related Debt Service Fund in 1989. <br />Deer Pass Trail <br />This fund was established in 1986 to account for the Deer Pass Trail Improvements. This <br />project was financed by the Temporary Improvement bonds of 1985 which were subsequently <br />permanently financed by the 1988 Improvement Bonds. The project was completed and assessed <br />during 1987. This fund had accumulated a deficit of $1,872. The City funded this deficit in 1988 <br />through a residual equity transfer from the Closed Bond Fund. <br />Comprehensive Area Wide Water <br />This fund was established in 1987 to account for the trunk water main installation for the <br />southwest water district. This project was financed by the Temporary Improvement bonds of 1985 <br />which were subsequently permanently financed by the 1988 Improvement Bonds. This project <br />was completed in 1988. We recommend that this fund be closed in 1989 to the 1988 Improvement <br />Bonds. <br />