Management Report and Recommendations 12/31/1987

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City of Lino Lakes, Minnesota Management Report, Page 7 The City currently has a federally secured investment of the Small Business Administration (SBA). This type of investment is acceptable for Minnesota cities. There have been notices from the SBA that payments from the borrower have been late and therefore payments to the City have been delayed. At December 31, 1987 payments were one month delinquent. The City received full early payment of this investment in June, 1988. Due From Other Governmental Units Included in Due From Other Governmental Units are various Federal and State grants receivable that the City has earned as of December 31, 1987. The following schedule details these amounts. Description December 31, 1987 1986 State: Fines and forfeits $ 5,536 $ 4,771 Video game refund 30 MSA 127,613 Federal: Community Development Block Grant 5,846 Federal Revenue Sharing 742 LAWCON 5,135 Local: MWCC - Maintenance Agreement 10,071 3,068 Final cost allocation 4,136 5,011 Police contract 12,695 Ditch payments: Anoka County 13,116 Rice Creek Watershed 9,600 Centerville - salt 232 White Bear Township 2,735 Total $ 191,580 $ 18,757 Excluded from the above schedule is the gas franchise tax receivable which repre- sents the City's share in the 1988 profits of the gas franchise operated by Circle Pines within the City of Lino Lakes. The amount is due each May following the year in which the amount is earned. As such the payment is measurable but not available and therefore is recognized in the year received (see later comments).