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City of Lino Lakes, Minnesota <br />Management Report, Page 18 <br />Capital Improvements Fund <br />The 1985 Certificates were issued to finance the acquisition of equipment for <br />various departments of the City. The following schedule reflects the budget and actual <br />expenditures for this certificate: <br />Description <br />Police Cars <br />Dump Truck with Plow <br />Mini Dump Truck with Plow <br />Equipment Trailer <br />Street Sweeper <br />Crack Filling Machine <br />Public Works Vehicle <br />Totals <br />1985 1986 <br />Budget Actual Actual <br />$ 25,000 $ 24,844 <br />60,000 39,955 <br />17,000 17,516 <br />3,000 <br />3,000 $ 3,000 <br />6,000 <br />4,725 4,725 <br />$ 118,725 $ 7,725 $ 82,315 <br />Variance <br />$ 156 <br />20,045 <br />(516) <br />3,000 <br />6,000 <br />$ 28,685 <br />The certificates were sold for proceeds of $107,500. The above schedule reflects <br />anticipated purchases of $118,725. The excess purchases (over the $107,500 1985 <br />Certificates of Indebtedness) is to be financed by the balance remaining in this fund <br />from prior years as well as future interest earnings. The remaining equipment is sche- <br />duled to be purchased in 1987. <br />The following schedule summarizes the activity of this fund through December 31, <br />1986. <br />Proceeds for issuance of 1981 certificates <br />Proceeds for issuance of 1985 certificates <br />Interest earnings: <br />1981 <br />1982 <br />1983 <br />1984 <br />1985 <br />1986 <br />Property taxes <br />Transfer from Debt Service Fund <br />Total revenue and other sources <br />Expenditures: <br />1981 <br />1982 <br />1983 <br />1984 <br />1985 <br />1986 <br />$ 111,400 <br />107,500 <br />1,288 <br />9,901 <br />1,758 <br />1,300 <br />1,192 <br />5,218 <br />10,405 <br />2,390 <br />$ 2,707 <br />55,136 <br />50,506 <br />10,546 <br />7,725 <br />82,315 <br />$ 252,352 <br />Total expenditures 208,935 <br />Fund balance - December 31, 1986 $ 43,417 <br />