Management Report and Recommendations 12/31/1984

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City of Lino Lakes, Minnesota Management Report, Page 44 We recommend that the City continue to address the adverse financial position of the operating funds (and other funds) of the City to assure the continued financial integrity of the City. Summary A summary of areas to be reviewed and /or monitored by the City of Lino Lakes is as follows: • Continue to monitor legislative actions which can affect the financing of City government. (Page 1) • Draw down the maximum amount available MSA funds as qualifying projects are approved. (Page 7) • Continue efforts to monitor the property tax collection rates. (Page 8) • Continue efforts to monitor special assessment collection rates and provide supplemental financing if collections are not adequate to finance bonded debt payments. (Pages 9 and 10) • Review and improve internal control procedures over special assessments. (Pages 10 and 11) • Review the benefits of implementing a fixed asset system. • Continue efforts to improve the fund balance of the City's General Fund and determine minimum required reserve levels. (Pages 13 - 17) • Continue to review revenue sharing requirements and internal procedures to comply with all applicable federal regulations. (Pages 17 and 18) • Prepare and maintain a subsidary listing of all designated monies for the City's Parks and Playground Fund. (Page 19) • Take action to close the 1981 Certificates of Indebtedness Capital Project Fund. (Pages 19 and 20) • Take action to amend the 1985 budget and transfer an adequate amount to close the City Hall Expansion Fund upon project completion. (Page 22) • Take action to annually fund the City's share of expenditures of the Lawcon Grant Fund. (Pages 22 and 23) • Monitor the financial position of the City's Special Assessment Debt Service Funds. (Pages 23 - 27)