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VOTO, TAUTGES, REDPATH & CO., LTD. <br />CERTIFIED PUBLIC ACCOUNTANTS <br />V1:K <br />Birch Lake Professional Building • 1310 E. Hwy. 96 • White Bear Lake, MN 55110 • Phone 426 -3263 <br />ROBERT J. VOTO, CPA <br />ROBERT G. TAUTGES, CPA <br />JAMES 5. REDPATH, CPA <br />To the Honorable Mayor and <br />Members of the City Council <br />City of Lino Lakes, Minnesota <br />The Annual Financial Report of the City is complete and has been transmitted <br />to the City Council. In conjunction with our examination, we have prepared this <br />report to assist the City in the analysis of the 1987 financial statements. <br />Financial areas which may be of particular interest to the City are as follows: <br />1. During 1987 the fund balance of the General Fund increased by <br />$103,000. <br />2. The City's first tax increment district has been established. <br />3. The MWCC estimated billings to the City increased by 9.3 %. <br />4. The City earned the initial year of its share in the profits <br />of the gas franchise and subsequently received $9,615 <br />in May, 1988. <br />Page # <br />15 <br />38 <br />41 <br />43 <br />In addition to the above areas, financial trend analysis has been updated <br />throughout the report. The funding of operations of the City continue to be <br />vulnerable to legislative actions of the State. We are committed to identifying <br />the effects of such legislative actions on the City. <br />We are available to discuss this report and other topics with the City <br />Council. <br />MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS • PRIVATE COMPANIES PRACTICE SECTION <br />MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS <br />GOVERNMENT FINANCE OFFICERS ASSOCIATION • MINNESOTA ASSOCIATION OF SCHOOL BUSINESS OFFICIALS <br />