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1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />City of Lino Lakes <br />Management Report, Page 32 <br />1981 Certificates Of Indebtedness <br />The 1981 Certificates were issued to finance the acquisition of equipment for <br />various departments of the City. The following schedule reflects the budget and actual <br />expenditures for 1982 and 1981: <br />Over <br />(Under) <br />Description Bu..et Actua Budget <br />Police Cars $ 21,747 $ 2,00P $ (253) <br />Dump Truck -0- , 58,000 (58,000) <br />Tractor 18,503 12,000 6,503 <br />1-Ton Truck 11,416 11,000 416 <br />Squad Car Equipment 3,223 4,400 (1,177) <br />Wing Plow 2,708 4,000 (1,292) <br />Totals $ 57,597 $ 111,400 $ (53,803) <br />The City completed the purchase of all the above budgeted equipment except for the <br />dump truck. Bids were let on the truck in September of 1982 in the amount of $47,765. <br />The following schedule summarizes the activity of this fund through December 31, 1982. <br />Proceeds for issuance of certificates <br />Interest earnings: <br />1981 <br />1982 <br />$ 111,400 <br />1,288 <br />9,901 <br />Total revenue provided $ 122,589 <br />Expenditures: <br />1981 <br />1982 <br />Total expenditures <br />Fund balance - December 31, 1982 <br />Less: Equipment ordered but not received <br />Fund balance unappropriated <br />2,707 <br />55,136 <br />57,843 <br />67,746 <br />47,765 <br />$ 19,981 <br />The above unappropriated fund balance of $19,981 is available to be expended on <br />additional City equipment or transferred to the Debt Service Fund for the Equipment <br />Certificates of 1981. We recommend that the City, upon completing scheduled purchases, <br />determine the intended use of the remaining balance and appropriate for that purpose in <br />1983. <br />