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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2001 <br />Note 15 INTERFUND RECEIVABLE AND PAYABLES <br />Individual fund receivable and payable balances at December 31, 2001 are as follows: <br />Fund <br />Receivable Payable <br />Debt Service Fund: <br />Improvement Bonds of 1998A $ - $ 41,753 <br />Capital Project Funds: <br />Area and Unit Charge 6,072,346 <br />MSA Construction - 435,784 <br />1997 Construction - 1,375,534 <br />1998 Construction 2,647,628 <br />Town Center Project - 1,019,007 <br />Lake /Apollo Drive Improvement/ Market Place - 286,782 <br />Tax Increment Financing District 1 -6 - 32,487 <br />Tax Increment Financing District 1 -7 - 108,054 <br />Tax Increment Financing District 1 -8 9,264 <br />Agency Fund: <br />Investment Fund 116,053 <br />$ 6,072,346 $ 6,072,346 <br />Advances to /from Other Funds <br />Dedicated Parks $ - $ 853,917 <br />Areas and Unit Charges 853,917 <br />$ 853,917 $ 853,917 <br />Note 16 RISK MANAGEMENT <br />The City is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors <br />and omissions; injuries to employees; and natural disasters. <br />Workers compensation coverage is provided through a pooled self - insurance program through the League of <br />Minnesota Cities Insurance Trust (LMCIT). The City pays an annual premium to LMCIT. The City is subject <br />to supplemental assessments if deemed necessary by the LMCIT. The LMCIT reinsures through Workers <br />Compensation Reinsurance Association (WCRA) as required by law. For workers compensation, the City is not <br />subject to a deductible. The City's workers compensation coverage is retrospectively rated. With this type of <br />coverage, final premiums are determined after loss experience is known. The amount of premium adjustment, if <br />any, is considered immaterial and not recorded until received or paid. <br />Property and casualty insurance is provided through a pooled self - insurance program through the LMCIT. The <br />City pays an annual premium to the LMCIT. The City is subject to supplemental assessments if deemed <br />necessary by the LMCIT. The LMCIT reinsures through commercial companies for claims in excess of various <br />amounts. The City retains risk for the deductible portion of the insurance policies and for any exclusions from <br />the insurance policies. These amounts are considered immaterial to the financial statements. <br />38 <br />