Management Report and Recommendations 12/31/1982

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City of Lino Lakes Management Report, Page 34 LAWCON Grant The LAWCON Grant Fund was established to account for the grant awarded to the City for the development of Country Lakes Park. Total grant awarded was $115,713. This grant agreement requires the grantee to properly document all expenditures related to the grant agreement. Documentation of these expenditures is necessary in order for the grantee to receive the grant monies approved. We recommend that the City develop controls to insure that all expenditures related IIto grants are properly documented and required requests for payments to the granting agency are filed on a timely basis. The fund deficit of this fund was as follows at December 31, 1982: Revenue: State Grant (28% of expenditures) Federal Grant (30% of expenditures) Total revenue Expenditures: Engineering Survey Total expenditures 602 635 1,187 928 1,237 2,115 Fund balance (deficit) - December 31, 1982 $ (878) The above fund deficit is the City share of expenditures to date. The total project funding is as follows: State $ 56,367 Federal 59,346 City 82,107 Total estimated project $ 197,820 The City has levied property taxes to fund a portion of its share ($30,000 levied for collection in 1982). These taxes are a part of the designated fund balance of the City's General Fund. As the City incurs expenditures, we recommend that the City annually fund the City share from the General Fund or other designated City sources.