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City of Lino Lakes <br />Management Report, Page .7 <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, 1983 with one exception. The Bank of <br />Minneapolis & Trust Company did not provide collateral sufficient to equal 110% of unin- <br />sured deposits. We recommend that corrective action be taken and that the City review <br />internal procedures to assure continuing compliance with statutory collateral require- <br />ments. <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, 1983. The following schedule <br />details these amounts. <br />Description <br />December 31, <br />1983 1982 <br />State: <br />Fines and forfeits $ 3,107 <br />MSA 13,110 <br />LAWCON $ 603 <br />Federal: <br />Community Development Block Grant 43,387 5,316 <br />Federal Revenue Sharing 8,626 7,363 <br />LAWCON 2,940 634 <br />Local: <br />Met Council - Planning Grant 2,825 <br />MWCC - SAC Refund 425 <br />MWCC - Maintenance Agreement 3,765 8,300 <br />Final cost allocation 911 1,144 <br />City of Centerville - <br />Building Inspector Contract 10,447 <br />Total $ 86,293 $ 26,610 <br />For the current year's financial statements, the City recognized $13,110 of MSA <br />maintenance aid which was received in January, 1984 for the prior year. Additionally, <br />there is a "construction" balance available at December 31, 1983 of $56,753. This <br />