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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1997 <br />Note 16 INTERFUND RECEIVABLE AND PAYABLES <br />Individual fund receivable and payable balances at December 31, 1997 are as follows: <br />Fund <br />Special Revenue Funds: <br />Community Development Block Grant <br />Receivable Payable <br />$ $6,282 <br />Capital Project Funds: <br />Area and Unit Charge 2,015,037 <br />1994 Construction 63,605 <br />1997 Construction 268,561 <br />1998 Construction 31,699 <br />Town Center Project - 539,168 <br />Civic Center Project 143,878 <br />Tax Increment Financing District 1-4 - <br />Tax Increment Financing District 1 -5 <br />Tax Increment Financing District 1 -6 - 33,869 <br />Tax Increment Financing District 1 -7 - 434,863 <br />Tax Increment Financing District 1 -8 2,292 <br />Tax Increment Financing District 3 -1 355,862 <br />Enterprise Fund: <br />Gas utility 17,241 <br />Agency Fund: <br />Investments fund 117,717 <br />$2,015,037 $2,015,037 <br />Note 17 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 <br />not subject to a deductible. The City's workers compensation coverage is retrospectively rated. With this type <br />of coverage, final premiums are determined after loss experience is known. The amount of premium <br />adjustment, if any, is considered immaterial and not recorded until received or paid. <br />49 <br />