Laserfiche WebLink
CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1997 <br />Note 14 DESIGNATIONS AND RESERVATIONS OF FUND EQUITY <br />At December 31, 1997 and 1996 the City had designated and reserved portions of its various fund equities <br />through legal restriction and City Council authorization. Major fund equity appropriations at December 31, <br />1997 and 1996 are shown on the various balance sheets as segregations of the fund equity. A summary of such <br />designations is as follows: <br />December 31, <br />1997 1996 <br />General Fund: <br />Reserve for prepaid items $99,820 $110,077 <br />Designated for general contingencies 729,915 684,647 <br />Designated for cash flow reserve 1,718,428 1,596,195 <br />Designated for employee benefits 202,445 332,106 <br />Designated for finance computer equipment 73,750 <br />Designated for parks playground equipment 153,652 <br />Designated for road reconstruction 30,730 <br />Designated for personnel contingency 49,172 <br />Special Revenue Funds: <br />Reserve for prepaid items 323 361 <br />Designated for recreation program 29,854 22,002 <br />Designated for CDBG programs 7,946 115 <br />Debt Service Funds: <br />Reserved for debt retirement 1,009,512 341,544 <br />Capital Project Funds: <br />Reserved for prepaid items 2,318 <br />Reserved for land held for resale 989,506 <br />Designated for capital improvements 10,644,145 9,905,607 <br />Designated for equipment acquisition - 37,276 <br />Designated for park improvements 309,982 252,489 <br />Totals $16,051,498 $13,282,419 <br />Note 15 SHARE IN GAS FRANCHISE PROFITS <br />The City receives a share of the gross billing for natural gas sales by a neighboring City which provides service <br />within the City of Lino Lakes, The amount reported as revenue for 1997 totaled $42,495. <br />48 <br />