Management Report and Recommendations 12/31/1987

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City of Lino Lakes, Minnesota Management Report, Page 35 1160 Main Street This fund was established in 1987 to account for costs associated with the repairs of a failed septic system. This project will be assessed in 1988. We recommend that the City consider methods to eliminate the deficit and close this fund in 1988. 2nd Avenue This fund was established in 1987 to account for costs associated with the installa- tion of storm sewers and road construction on 2nd Avenue. A portion of the costs for this project will be funded by MSA allotments in addition to special assessments and tax increment collections. Ash Street Sewer The City established this fund in 1987. Funding is anticipated from 1988 bonding. Connection and Area Charge Fund On January 11, 1988 the City Council approved Resolution 1 -88 which established the Connection and Area Charge Fund for the City. The purpose of this fund is to collect various connection and area charges to be used to meet debt payments. Before October 1 of each year the City will estimate the required transfer needed to meet debt payments for the subsequent year. In December these estimated amounts shall be transferred to the various debt funds. The City has estimated scheduled connection and area assessments needed to meet debt requirements. We recommend that the City monitor actual versus projected connection charge and area assessment collections to assure that debt payment requirements will be met. This fund will eventually account for connection charges and area assessments for funding of various debt issues. The City has amended collection procedures.