Management Report and Recommendations 12/31/1986

Home Search

City of Lino Lakes, Minnesota Management Report, Page 40 Summary During 1987, the City should: • Review the provisions of State legislation to prepare for the 1988 levy /budget process. (Page 1) • Monitor compliance with the payment terms of the SBA loan. (Page 7) • Consider adopting a policy on investing. (Page 7) • Consider the option of requesting unused MSA construction allotments for main- tenance purposes. (Page 8) • Prepare a delinquent listing of property taxes to determine if such delinquen- cies are concentrated in certain areas of the City and to determine if an adverse trend is developing. (Page 8) • Monitor the collection rate of special assessments and provide supplemental financing if collections are not adequate to meet bonded debt payments. (Page 10) • Levy the portion of scheduled property taxes required to meet bonded debt payments. (Page 10) • Consider the benefits of implementing a general fixed asset system in the future. (Page 11) • Expend the remaining balance in the Federal Revenue Sharing Fund in 1987 to effectively close the fund. (Page 15) • Prepare cash flow schedules for future bond issues to assure that adequate cash will be on hand in the fund prior to scheduled debt payments. (Page 16) • Fund the City share of the LAWCON Fund deficit from the General Fund or other designated City sources. • Monitor the projected balance in the Improvement Bonds of 1977 Fund and develop a plan for the intended use of the balance available upon final payment in 1987. (Page 22) • Plan for the use of the remaining balance in the Improvement Bonds of 1980 Fund. (Page 23) • Consider establishing a Closed Bond Fund in 1987 and transfer the residual balances of the 1980 Bond Fund. (Page 23) • Monitor the results of the Improvement Bonds of 1981 and 1983 annually. (Page 23) • Review the financing of the Improvement Bonds of 1984 Fund and provide addi- tional financing if required. (Page 25) • Consider securing permanent financing for the Temporary Improvement Bonds of 1985 in 1987 if rates are favorable. (Page 25)