Management Report and Recommendations 12/31/1987

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City of Lino Lakes, Minnesota Management Report, Page 13 The above procedures will allow the City greater assurance that all of its special assessments are properly spread for collection. Additionally, the City will have the ability to generate year end balances for annual financial reporting with greater ease and accuracy. The increased level of control required is partially a function of increased assessment activity. Special assessments receivable (City -wide) was less than $100,000 in 1979. Assessments receivable were over $2 million at December 31, 1987. Fixed Assets The City does not currently maintain accounting records of its general fixed assets. This situation is not uncommon for Metropolitan suburban communities. The benefits of a fixed asset system are improved financial reporting, better availability of insurance information, availability of data base for determining capital replacement needs and an overall improved safeguard over City assets. The implementation of such a system may not be a priority of the City at this time. We recommend, however, that the City con- sider the benefits of implementing a general fixed asset system at some future date.