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City of Lino Lakes, Minnesota <br />Management Report, Page 10 <br />The above difference will cause a cash overdraft in the 1987 Certificates of <br />Indebtedness Debt Service Fund in 1988. Additionally, the budget amendments were made <br />on a preliminary basis and not as yet authorized by the City Council. We recommend that <br />the City: <br />1. Determine full levies required for debt prior to authorizing the budget <br />and tax levy. <br />2. Consider using Capital Improvements Fund residual bond proceeds for <br />Debt Service if required. <br />3. Review the revised 1988 budget and determine if amendments are adequate <br />and have the City Council review and take action to amend the budget if <br />appropriate. <br />Special Assessments Receivable <br />Special assessments receivable consisted of the following: <br />December 31, Increase <br />1987 1986 (Decrease) <br />Delinquent $ 195,457 $ 290,525 $ (95,068) <br />Deferred 1,646,410 1,899,133 (252,723) <br />City property 148,096 148,096 <br />Tax forfeit 102,572 102,572 <br />Total $2,092,535 $2,337,754 $ (245,219) <br />