Management Report and Recommendations 12/31/1983

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City of Lino Lakes Management Report, Page 12 The above procedures will allow the City greater assurance that all of its special assessments are properly spread for collection. Additionally, the City will have the ability to generate year end balances for annual financial reporting with greater ease and accuracy. The increased level of control required is partially a function of increased assessment activity. Special assessments receivable (City -wide) was less than $100,000 in 1979. Assessments receivable were over $1,000,000 at December 31, 1983. Due From (To) Other Funds The amounts recorded as due from (to) other funds were the result tion of receipts and disbursements and various other following schedule reflects these amounts. Fund # 101 303 509 560 Description General Fund 1981 Certificates of Indebtedness 1982 G.O. Improvement Bonds Baldwin Lake Mobile Home Court Total interfund of reclassifica- transactions. The Due From Due To Other Funds Other Funds $ 246.50 $ 9,688.58 263.28 9,425.30 246.50 $ 9,935.08 $ 9,935.08 Council authorization is required to transfer these interfund amounts. We recommend that the City record the cash transfers upon City Council authorization during 1984. Fixed Assets The City does not currently maintain accounting records of its general fixed assets. This situation is not uncommon for Metropolitan suburban communities. The benefits of a system are improved financial reporting, better availability of insurance information, availability of data base for determining capital replacement needs and an overall improved safeguard over City assets. The implementation of such a system may not be a priority of the City at this time. We recommend, however, that the City consider the benefits of implementing a general fixed asset system at some future date.