Management Report and Recommendations 12/31/1986

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City of Lino Lakes, Minnesota Management Report, Page 35 Agency Funds The City maintained two Agency Funds in 1986 as follows: • Contractor's Deposits • Investment Fund An Agency Fund is designed to account for transactions for other individuals, pri- vate organizations and /or other funds. The Contractor's Deposits Fund is used to account for "pass through" types of expen- ditures relating to prospective developers. The City pays certain legal, engineering and planning amounts to assure compliance with various City ordinances relating to pertinent applications. The City receives deposits and /or bills the various developers for costs incurred. We recommend that the City continue to maintain detail records of amounts due from developers and assure that adequate deposits are received prior to incurring expenses on a developer's behalf. Franchise Agreement - Gas Utility Portions of the City of Lino Lakes have gas service through a franchise agreement between the City of Circle Pines and the City of Lino Lakes. The City of Circle Pines operates the gas utility. A summary of net income from 1978 through 1985 is as follows: Net Income Circle Pines Lino Lakes Total Percent Percent Percent Year Amount of Total Amount of Total Amount of Total 1978 $ 23,736 53.5% $ 20,602 46.5% $ 44,338 100.0% 1979 39,104 75.6 12,630 24.4 51,734 100.0 1980 22,563 86.2 3,605 13.8 26,168 100.0 1981 6,215 41.7 8,676 58.3 14,891 100.0 1982 70,955 78.4 19,587 21.6 90,542 100.0 1983 61,151 73.9 21,642 26.1 82,793 100.0 1984 40,821 71.8 16,043 28.2 56,864 100.0 1985 89,031 78.4 24,473 21.6 113,504 100.0 Eight Year Totals $ 44,197 $ 15,907 $ 60,104 100.0%