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Management Report and Recommendations 12/31/1984
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Management Report and Recommendations 12/31/1984
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Management Report and Recommendations
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12/31/1984
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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 />Certain other investments are not legal for Minnesota cities. We recommend that all <br />proposed new investments be carefully reviewed in conjunction with Minnesota Statutes. <br />Securities For Deposit <br />Minnesota Statutes (MS 118) require cities to maintain specific levels of collateral <br />for deposits in excess of Federally insured amounts. The City maintained sufficient <br />collateral for all depositories at December 31, 1984. <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, 1984. The following schedule <br />details these amounts. <br />Description <br />December 31, <br />1984 1983 <br />State: <br />Fines and forfeits $ 4,973 $ 1,705 <br />MSA 13,110 <br />LAWCON 29,386 <br />Federal: <br />Community Development Block Grant 24,863 43,387 <br />Federal Revenue Sharing 10,347 8,626 <br />LAWCON 2,940 <br />Local: <br />MWCC - Maintenance Agreement 3,610 3,765 <br />Final cost allocation 2,240 911 <br />City of Centerville - <br />Building Inspector Contract 360 1,402 <br />Police contract 11,212 10,447 <br />Total $ 86,991 $ 86,293 <br />During 1984, the City received $13,935 of MSA maintenance aid. Additionally, <br />there is a "construction" balance available at December 31, 1984 of $268,489. This <br />amount can be drawn by the City upon approval /completion of MSA road improvements. We <br />recommend that the City draw down the maximum amount available as qualifying projects <br />are approved. <br />
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