Management Report and Recommendations 12/31/1984

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1 City of Lino Lakes, Minnesota Management Report, Page 20 The City completed the purchase of all the above budgeted equipment during 1984. The following schedule summarizes the activity of this fund through December 31, 1984. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Proceeds for issuance of certificates Interest earnings: 1981 1982 1983 1984 Property taxes Transfer from Debt Service Fund Total revenue provided Expenditures: 1981 1982 1983 1984 $ 111,400 1,288 9,901 1,758 1,300 5,252 2,390 2,707 55,136 50,506 10,546 $ 133,289 Total expenditures 118,895 Fund balance - December 31, 1984 $ 14,394 The scope of the fund was increased to accommodate the purchase of two additional police cars. The additional funding was provided by: • accumulated interest earnings. • property taxes. • amounts "under budget" on other purchases. The remaining fund balance is available for transfers or expenditures at the discre- tion of the City Council. We recommend that the City council take formal action to close this fund in 1985. Community Development Block Grant The Community Development Block Grant (CDBG) Fund was established in 1982 to account for the financial activity related to the projects to be funded by the CDBG program. The City entered into an agreement with Anoka County to receive CDBG funds. The County of Anoka, along with other governmental units, were awarded the Grant. The City of Lino Lakes is considered to be a sub- grantee and will have to comply with the provisions of the grant agreement. In prior years, there had been several instances of apparent non- compliance with Davis Bacon Act provisions by contractors involved with the Senior