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284 <br />2 <br />I commend the City Council and staff for achieving what I consider <br />to be a major accomplishment for the City and in turn a major benefit <br />to the citizens of this community. <br />A more precise breakdown of 1985 major department expenditures is as <br />follows: Administration $118,119; consultants $77,923; government <br />buildings $106;191; police department $330,056; fire department <br />$76,280; building official $42,023; parks $64,143 and public works <br />$303,109. All major departments came in under City Council authorized <br />spending levels. This was a significant contributing factor in the <br />City's strong financial year end statement. <br />Revenues received in 1985 for general operating purposes are as <br />follows: General levy $783,497; state aid $196,177; state aid for <br />roads $13,935; city services $122,433; police receipts $129,351; <br />refunds and reimbursements $21,040 and federal revenue sharing $41,018. <br />A major financial accomplishment was achieved by the City in 1985 by <br />receiving the highest financial rating a city the size of Lino Lakes <br />can obtain. Moody's Investors Service assigned the City an "A" <br />credit rating. This reflects the overall financial stability of the <br />City and indicates our excellent future for development and general <br />city growth. <br />In 1985, the City was financially stronger than in previous years which <br />allowed diversification of investments. Through this process the <br />City has realized a higher yield on its noncommitted funds thus re- <br />flecting significant interest earnings in the general fund. This is <br />the first time in many years interest has been derived from general <br />1 <br />