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City of Lino Lakes, Minnesota <br />Management Report, Page 11 <br />received. In order to assure that the City's best interests are guarded, the City <br />should improve internal records with regard to special assessments and compare such <br />records periodically to County records. <br />The above procedures will allow the City greater assurance that all of its special <br />assessments are properly spread for collection. Additionally, the City will have the <br />ability to generate year end balances for annual financial reporting with greater ease <br />and accuracy. The increased level of control required is partially a function of <br />increased assessment activity. Special assessments receivable (City -wide) was less than <br />$100,000 in 1979. Assessments receivable were nearly $1,000,000 at December 31, 1984. <br />The pending acquisition of an in -house computer may allow for automated tests of <br />special assessment balances. We recommend that the City consider the needs related to <br />special assessments in the process of acquiring the system. <br />Assessments related to the Baldwin Lake Improvements are collected through a develo- <br />per's agreement. The assessments, however, are apparently not recorded as a lien <br />against the property (at the County). We recommend that such a lien be effected to <br />further protect the City's interest. <br />Fixed Assets <br />The City does not currently maintain accounting records of its general fixed assets. <br />This situation is not uncommon for Metropolitan suburban communities. The benefits of a <br />system are improved financial reporting, better availability of insurance information, <br />availability of data base for determining capital replacement needs and an overall <br />improved safeguard over City assets. The implementation of such a system may not be a <br />priority of the City at this time. We recommend, however, that the City consider the <br />benefits of implementing a general fixed asset system at some future date. The acquisi- <br />tion of an in -house computer may improve the efficiency of establishing fixed asset <br />records. <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />