Management Report and Recommendations 12/31/1982

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City of Lino Lakes Management Report, Page 20 2. Maintenance of deferred assessment receivable listings. These listings should be updated for prepayments, current portions spread for collection and adjustments such as tax forfeitures. Each year the County spreads a current collectible portion, the City should compare those parcels spread with those on its internal records. 3. Maintenance of accounting records for any specially deferred type assessments including tax forfeit assessments. This information should also be compared to County records. 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 nearly $1,000,000 at December 31, 1982. Due From (To) Other Funds The amounts recorded as due from (to) other funds were the result of reclassifica- tion of receipts and disbursements and various other interfund transactions. The following schedule reflects these amounts. Council authorization is required to effect these interfund amounts and make the required cash transfers. We recommend that the City record the cash transfers upon City Council authorization during 1983. Due From Due To Fund # Description Other Funds Other Funds 101 General Fund $ 2,432.72 302 1980 Certificates of Indebtedness $ 1,142.70 303 1981 Certificates of Indebtedness 1,290.02 502 1977 G.O. Improvement Bonds 131.40 504 1980 Improvement Bonds 1,247.24 509 1982 G.O. Improvement Bonds 1,115.84 Total $ 3,679.96 $ 3,679.96 We noted during the course of our audit that the City is following the practice of writing out checks to transfer monies between City funds as approved by Council resolution. We recommend that the City cease this policy and record interfund transac- tions through journal entries in the City's financial accounting records.