Management Report and Recommendations 12/31/1988

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1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 City of Lino Lakes, Minnesota Management Report, Page 48 priority for the City in 1989. We recommend that the City acquire additional training from the vendor. Additionally, our office is available to assist the City during the implementation phase. Implementation of an in -house accounting system requires a review of internal accounting controls and security over the computer system. SUMMARY During 1989, we recommend that the City: • Continue the practice of minimal cash balances in the City's checking account. (Page 9) • Consider requesting MSA receipts during periods in which the City does not have qualifying MSA construction projects. (Page 11) • Monitor the collection rate and provide supplemental financing if assessment collections are not adequate to meet bonded debt payments. (Page 12) • Consider alternate procedures relative to assessing City property. (Page 13) • Request improved data from the County in regards to assessment collections. (Page 13) • Continue to monitor the reserve balance of the General Fund. (Page 18) • Calculate the appropriate charge for the 1988 Aerial Maps and transfer such amounts in 1989. (Page 18) • Continue efforts to monitor arbitrage compliance. (Page 23) • Remit to MWCC sewer availability charges for the Baldwin Lake Mobile Home Court in 1989. (Page 27) • Eliminate the fund deficit in the Reiling Road Capital Project Fund in 1989. (Page 27) • Transfer the the remaining balance in the 4th Avenue Capital Project Fund in 1989 to the related debt service fund. (Page 28) • Close the Rice Lake Estates Addition Capital Project Fund to the 1988 Improvement Bond Fund after final completion. (Page 28) • Monitor the 80th Street Project. (Page 29) • Close the Main Street Capital Project Fund into the Improvement Bonds of 1988 Debt Service Fund. (Page 29) • Determine a funding source for the West Shadow Lake Drive Capital Project Fund and eliminate this fund in 1989. (Page 29)