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City of Lino Lakes, Minnesota <br />Management Report, Page 7 <br />The City currently has a federally secured investment of the Small Business <br />Administration (SBA). This type of investment is acceptable for Minnesota cities. <br />There have been notices from the SBA that payments from the borrower have been late and <br />therefore payments to the City have been delayed. We recommend that the City monitor <br />compliance with payment terms. <br />We recommend the City consider adopting a policy on investing. An investment policy <br />should be designed to safeguard types of investments purchased, enhance procedures to <br />comply with State statutes and assure that competitive market interest rates are <br />earned. The policy should address City investing parameters in relation to 1) security, <br />2) liquidity, 3) yield, and 4) risk to market. <br />Due From Other Governmental Units <br />Included in Due From Other Governmental Units are various Federal and State Grants <br />Receivable that the City has earned as of December 31, 1986. The following schedule <br />details these amounts. <br />Description <br />December 31, <br />1986 1985 <br />State: <br />Fines and forfeits $ 4,771 $ 4,699 <br />Video game refund 30 <br />Federal: <br />Community Development Block Grant 8,397 <br />Federal Revenue Sharing 742 11,022 <br />LAWCON 5,135 1,640 <br />Local: <br />MWCC - Maintenance Agreement 3,068 5,108 <br />Final cost allocation 5,011 4,095 <br />Police contract 11,269 <br />MWCC - SAC overpayment 421 <br />Metro Council - Section 8 408 <br />Total <br />$ 18,757 $ 47,059 <br />