Management Report and Recommendations 12/31/1985

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City of Lino Lakes, Minnesota Management Report, Page 25 will consist of future tax levies (scheduled and /or unscheduled) but can be realized through future interest on investments, permanent transfers in and /or other City Council designated sources. Presented herewith, are projected financial positions of the various Special Assessment Debt Funds of the City (excluding the Temporary Improvement Bonds of 1985) based on scheduled future tax levies, future interest payable on bonds, and estimated future interest receivable on deferred assessments. Future interest on investments are not considered due to the uncertainties involved. Debt Service Fund Improvement Bonds of 1977 Improvement Bonds of 1980 Improvement Bonds of 1981 Improvement Bonds of 1982 Improvement Bonds of 1983 Improvement Bonds of 1984 Totals Fund Position 12/31/85 $ 15,757 44, 169 16,662 223,457 13,382 (1 ,478) $ 311.949 Scheduled Future Interest Projected Year of Future Add: Deduct: Fund Final Tax Levies Assessments Bonds Position Maturity $ 900 $ 948 $ 15,709 1987 2,300 3,300 43,169 1986 12,600 11,387 17,875 1991 $ 190,535 98,500 185,110 327,382 1991 43,400 32,500 24,282 1993 725 12 ,200 13, 509 (2� 062) 1994 $ 191.260 $ 169.900 $ 246, 754 Total projected fund position Less: City property assessments included in projections Adjusted projected fund position Statutory reserve (5% of unmatured bond requirements) Excess projected fund position 426,355 129,819 296,536 54,600 $ 241.936 The overall actual and projected fund positions of the Special Assessment Funds indicate that these bond funds are adequately financed at December 31, 1985. The reader should be cautioned that the above projected position is based upon fund balances and that these funds may experience cash overdraft balances due to timing of assessment collections (i.e., delinquencies).