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City of Lino Lakes, Minnesota
<br />Management Report, Page 11
<br />Delinquent assessments consist of amounts which were spread for collection in 1987
<br />and prior years which have not yet been received. For 1982 through 1987, special
<br />assessment collections were as follows:
<br />Delinquent balance - January 1
<br />Add:
<br />Current installment
<br />Delinquent - previously not
<br />spread for collection
<br />Amount collectible
<br />Less:
<br />Current collections
<br />Delinquent collections
<br />Total collections
<br />Adjustments
<br />Delinquent balance - December 31
<br />Total collections as a percent
<br />of current levy
<br />1987 1986 1985 1984 1983 1982
<br />$290,525 $271,588 $182,722 $123,970 $ 31,780 $ 16,356
<br />388,798 162,553 183,830 201,280 227,230 215,629
<br />8,446
<br />679,323 434,141 366,552 333,696 259,010 231,985
<br />194,196 78,980 63,292 124,395 123,535 185,968
<br />190,508 63,103 31,672 25,945 6,578 14,237
<br />384,704 142,083 94,964 150,340 130,113 200,205
<br />(105,013) (1,533) -0- (634) (4,927) -0-
<br />$189,606 $290,525 $271,588 $182,722 $123,970 $ 31,780
<br />99% 87% 52% 75% 57% 93%
<br />The 1987 adjustments primarily represent tax forfeit assessments. The assessments
<br />are related to the Black Duck area of the City. The possible non - collection of these
<br />assessments was anticipated by the City and therefore a property tax levy was included
<br />in the bond resolution (see later comments).
<br />As the above schedule shows, special assessment collection rates have fluctuated
<br />substantially over the past several years. The ability of the City to collect special
<br />assessments is vital to the financing of the Special Assessment Debt Service Funds of
<br />the City. The primary funding of debt payments is special assessments. Timely collec-
<br />tion of special assessments are required to assure timely availability of cash to meet
<br />the scheduled debt payments. If the City continues to experience high delinquency
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