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City of Lino Lakes, Minnesota
<br />Management Report, Page 9
<br />In 1982 the State arbitrarily reduced homestead credits received by the City. No
<br />replacement aid was provided. The State proposes cuts in homestead credits annually.
<br />We recommend that the City continue efforts to monitor State financial legislation to
<br />react to adverse proposals on a timely basis.
<br />Special Assessments Receivable
<br />Special assessments receivable consisted of the following:
<br />December 31, Increase
<br />1986 1985 (Decrease)
<br />Delinquent $ 290,525 $ 271,588 $ 18,937
<br />Deferred 1,899,132 491,159 1,407,973
<br />City property 148,097 129,819 18,278
<br />Total $2,337,754 $ 892,566 $1,445,188
<br />Delinquent assessments consist of amounts which were spread for collection in 1986
<br />and prior years which have not yet been received. For 1982 through 1986, 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 />1986 1985 1984 1983 1982
<br />$271,588 $182,722 $123,970 $ 31,780 $ 16,356
<br />162,553 183,830 201,280 227,230 215,629
<br />8,446
<br />434,141 366,552 333,696 259,010 231.,985
<br />Less:
<br />Current collections 78,980 63,292 124,395 123,535 185,968
<br />Delinquent collections 63,103 31,672 25,945 6,578 14,237
<br />Total collections 142.083 94.964 150.340 130.113 200.205
<br />Adjustments (1 533) -0- (634) (4,927) -0-
<br />Delinquent balance - December 31
<br />Total collections as a percent
<br />of current levy
<br />$290,525 $271,588 $182,722 $123,970 $ 31,780
<br />87% 52% 75% 57% 93%
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