Management Report and Recommendations 12/31/1983

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City of Lino Lakes Management Report, Page 31 assessment collection rates and investment earning rates). The use of such multiple variables allows the City to develop long -term plans for the maintenance of these accounts and the eventual use of any available reserves. Construction Funds Lakes Addition #7 Lakes Addition #7 has had the following transactions from inception: Miscellaneous Revenue Preliminary Construction Costs Fund balance (deficit) - December 31, 1983 1982 and Prior $ 183 1983 $ -0- $ 22,767 -0- Total $ 183 22,767 $ (22,584) The above deficit should be funded through a permanent bond sale to finance the pro- ject. If the project is not ordered, the City may charge the developer directly through r a letter of credit arrangement. We recommend that the City review the status of this fund and take action to eliminate the accumulated cash overdraft. Baldwin Lake Mobile Home Court This project was financed by the $100,000 Improvement Bonds of 1983. The project consisted of installations of sewer service lines to the mobile home court. The project was completed and assessed in 1983. The fund is carrying a liability to MWCC for sewer II availability charges of $24,400. We recommend that the City remit this money to MWCC in 1984 and close the fund to the related debt service account. The assessment roll of this fund was calculated on estimated costs which vary from actual results as follows: Construction contract Sewer availability charges Enginerring, legal, administrative and contingency Capitalized interest Total December 31, Estimated Actual Difference $ 45,179 $ 1,016 24,650 $ 46,195 24,650 21,155 8,000 $100,000 12,827 8,328 1,700(1) 6,300 $ 84,356 $ 15,644 (1) Calculated from date of bond sale to date of assessment roll adoption (September 28, 1983 to December 31, 1983).