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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2000 <br />Note 15 INTERFUND RECEIVABLE AND PAYABLES <br />Individual fund receivable and payable balances at December 31, 2000 are as follows: <br />Fund <br />Receivable Payable <br />Special Revenue Funds: <br />Economic Development Authority $ - $ 1,143 <br />Community Development Block Grant - 3,617 <br />Debt Service Fund: <br />Public Project Refunding Bonds of 1999C 104,533 <br />Capital Project Funds: <br />Area and Unit Charge 6,263,850 <br />MSA Construction 425,143 <br />1997 Construction 1,333,772 <br />1998 Construction 2,672,946 <br />Town Center Project 991,196 <br />General Tax Increment Administrative 11,599 <br />Tax Increment Financing District 1 -6 - 40,594 <br />Tax Increment Financing District 1 -7 381,744 <br />Tax Increment Financing District 1 -9 6,441 <br />Tax Increment Financing District 3 -1 166,555 <br />Agency Fund: <br />Investment Fund - 124,567 <br />$ 6,263,850 $ 6,263,850 <br />Advances to /from Other Funds <br />Dedicated Parks $ $ 582,916 <br />Areas and Unit Charges 582,916 <br />$ 582,916 $ 582,916 <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 />