HomeMy WebLinkAboutAudit Report 12/31/1974R E P O R T O N AUDIT
CITY OF LINO LAKES
Anoka County, Minnesota
For the Year Ended December 31, 1974
HILL MILNE & CO.
Public Accountants
2810 County Rd. # #10
Minneapolis, Minnesota 55430
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CITY OF LINO LAKES
Anoka County, Minnesota
CONTENTS
CITY OFFICIALS
ACCOUNTANTS' OPINION
Pages
1-2
3
EXHIBITS
A Balance Sheet by Funds 4 -5
A -a Balance Sheet - Special Revenue Funds 6
B Summary of Cash Receipts and Disbursements by Funds 7 -8
C Combined Comparative Balance Sheet 9
COMMENTS 10 -12
DETAILS ON BALANCE SHEET ITEMS
Schedules
A -1 Cash on Hand 13
A -2 Cash in Centennial State Bank of Lexington 14
A -2a Savings Certificates 15
A -3 U.S. Government Securities 15
A -4 Current Taxes Receivable 16
A -5 Delinquent Taxes and Assessments Receivable 16
A -6 Summary of General Fixed Assets 17
A -6a Additions to General Fixed Assets 18
A -7 Summary of Water and Sewer. Utility Properties 19
A -8 Bonded Indebtedness 20
A -8a Details on Principal,and Interest on Bonds by. Year. 20 -21
DETAILS ON CASH RECEIPTS AND DISBURSEMENTS BY FUNDS
Schedules
B -1 General Fund Cash Receipts and Disbursements 22 -24
B -la Condensed Comparison of Cash Receipts and Disbursements -
General Fund 25
B -2 Fire Protection Fund Cash Receipts and Disbursements 26
B -3 Police Fund Cash Receipts and Disbursements 26
B -4 Civil Defense Fund Cash Receipts and. Disbursements 27
B -5 Parks and Playgrounds Fund Cash Receipts and Disbursements 27
B -6 Road and Bridge Fund Cash Receipts and Disbursements 28
B -6a Condensed Comparison;of Cash Receipts and Disbursements -
Road and Bridge Fund 29
B -7 Revenue Sharing Fund Cash Receipts and Disbursements 30
B -8 Debt Service No. 1 Fund Cash. Receipts and Disbursements 30
B -9 SAC Fund Cash Receipts and Disbursements 31
B -10 Metro Sewer Fund Cash Receipts and Disbursements 31
B -11 Water and Sewer Operating Fund Cash Receipts and Disburse-
ments 32
B -12 Water and Sewer Construction Fund Cash Receipts and
Disbursements 32
B -13 Debt Service No. 2 Fund Cash Receipts and Disbursements 33
Schedules
1 Assessed Valuations, Tax Levies and Tax Rates 34
2 Insurance and Bonds in Force 35 -36
CITY OF LINO' LAKES
Anoka.County, Minnesota,
CITY COUNCIL AND'OFFICIALS
For the Year-Ended' December 31, 1974
*WilliamtBohjanen
*Donald- Marier
*Ronald Jaworski
*Richard Zelinka.
*John McLean
CITY' COUNCIL
Mayor 12/31/75
Councilman 12/31/75
Councilman 12/31/75
Councilman and Acting Mayor 12/31/75
Councilman 12/31/77
CITY OFFICIALS
Edna,Sarner
Genevieve :Oman,
Joanne Prankratz
Babcock, Locher, Neilson &
Mannella
Milner W. Carley and
Associates
Lee Starr
Marvin .Myhre
Henry D. Amundsen
Robert Vadnais
Roy Backlin
Donald Volk
Mrs, Edna Sarner,
Arnold Kelltng
R. V. Ellingsen
Milford F. Kline.
Charles Cape
Crimson Cross 'Kennels
Anoka County Health Dept.
Mrs. Lena.Billik
Centennial State'Bank of
Lexington
Forest Lake Times
Springsted, Inc.
Clerk- Treasurer
Dupty Clerk
Police
Attorneys
Engineers
Planner
Police Chief
Building Inspector,
Plumbing- Inspector
Road and Park Supervisor
Assistant Supervisor
Assessor.
Deputy Assessor
Weed Inspector
FireMarshall
Civil - Defence Director
Dog Catcher
Health Inspector,
Sunrise Park Supervisor
Bank Depository
Official-Newspaper
Bonding Consultants
Indefinite
Indefinite
Indefinite
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Indefinite
Indefinite
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12/31/74
*Elected Officials (Continued)
PLANNING AND ZONING BOARD
Ed Karth
John McLean
James J. Hill
Arnold,Kelling
James Shearen
Vince Lombardi
Ralph L'Allier
Pierre Nadeau}
Lawrence Johnson
Richard Cartier
Curtis Kramer
Mrs. Harold Kelly
James Livingston
Chairman
PERSONNEL COMMISSION
Chairman
PARK, RECREATION AND'- ENVIRONMENTAL COMMISSION
James McGeary
Sylvia Brisson
Gerald Clausen
Betty Kendall
Donald R. Kent
Geraldine LeTourneau
Franklin Resch
Chairman
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HILL.MILNE & CO.
Public Accountants
2810 County Rd. #10
Minneapolis, Minnesota 55430
ACCOUNTANTS' OPINION
Members of the City Council,
City of Lino Lakes
Anoka County, Minnesota
Gentlemen:
We have examined, on a cash basis, the balance sheet and the fund
balances of the City of,Lino Lakes as of December 31, 1974, and the related
fund transactions for the year.then ended. Our examination was made in ac-
cordance.with generally accepted auditing standards and accordingly included
such tests of the accounting records and such other auditing procedures as we
considered necessary in -the circumstances.
We have modified the:cash.basis presentation of the balance sheet, Exhibit
A, to such an extent as to reflect all: significant known.assets and liabilities
therein for additional information purposes.
In our opinion, the accompanying statements • present fairly, on a modified
cash basis, the financial position of the City of Lino Lakes at December 31,
1974, and the cash fund transactions for the year then ended, in conformity
with generally accepted governmental accounting principles applied on a,basis
consistent with that of the, preceding year. The supplementary and statistical .
data presented in this report have been=subjected to the same auditing pro-
cedures and, in our opinion, are stated`,fairly in all material respects when
taken as a whole,with the basic financial-statements.
Respectfully submitted,
HILL MILNE & CO.
Waldemar A. Hill, C.P.A.
WAH:dn
Date Field Work Completed: February 27, 1975
Date Report Signed: March 31 1975
ASSETS
Current Assets:
Cash on Hand
Cash in Bank
U. S. Government Securities
Taxes Receivable:
Current Levy
Federal and State Aids
Delinquent Levies
Special Assessments:
Current
Delinquent
Total Current Assets
Fixed Assets:
Land.
Buildings
Equipment
Water and Sewer Systems
Total Fixed Assets
Deferred Assets:
Amount to be Provided For
Retirement of Bonds
TOTAL ASSETS
CITY OF LINO LAKES
Anoka•,;County, Minnesota
BALANCE SHEET -BY FUNDS
December- 31, 1974
General
Sch. Total. Fund
A -1 $ 215.00
A -2 71,289.25
A -3 29,025.57
A -4 139,729.00
A -4 101,748.22
A -5 13,183.22
54,078.10
A- -5 46,959.39
$ 456,227.75
$ 30,168.91
121,166.15
87,058.34
A -7 430,306.08
$ 668,699.48
$ 215.00
23,565.03
13,310.00
39,718.22
1,110.00
$77,918.25
(Exh. A -a)
Special
Revenue
Funds
SAC
Fund
$ $
(11,139.80) 297.00
111,619.00
30,000.00
9,989.80
$140,469.00 $297.00
$ $
$ $
$ 250,000.00 $ $ $
$1,374,927.23 $77,918.25 $140,469.00 $297.00
LIABILITIES AND SURPLUS
Current Liabilities:
Bonds Payable - Due Within
One Year A -8 $
Bond Interest Payable.
(Due Within One Year) A -8
Total Current Liabilities $ 23,807.50
Non - Current Liabilities:
Bonds Payable A -8 $
Less Current Maturity
Net Non- Current Liabilities $
Deferred Revenue:
Unrealized Revenue on Cash Basis:
Receivables $
Less Liabilities
Net Deferred Revenue.
Surplus:
Contributed - Customers $ 430,306.08
Investment in ;Fixed Assets 238,393.40
Fund Balances 100,529.82
Total Surplus $ 769,229.30
10,000.00
13,807.50
260,000.00
10,000.00
250,000.00 $
355,697.93
23,807.50
331:090.43
TOTAL LIABILITIES AND :>SURPLUS ;$1374,927.23
$54,138.22
$54,138.22
23,780.03
$23,780.03
$77,918.25
$151,608.80
$151,608.80
(11,139.80)
$(11,139.80)
297.00
$297.00
$140,469,00 $297.00
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Revenue
' Sharing
Fund
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Water and_
Sewer
Operating
Fund
Metro
Sewer
Fund
$ $ $
26,600.00 4,485.37 11,048.14
32,030.00
$58,630.00
Debt
Service
No. 1 Fund
11,684.18
14,800.00
2,083.42
Debt
Service
No. 2 Fund
4,749.33
29,025.57
54,078.10
46,959.39
4,485.37 $11,048.14 $28,567.60 $134,812.39
430 306.08
$430,306.08
EXHIBIT A
(Sch. A -6) (Sch. A -8)
General General
Fixed Long -Term
Assets Debt.
$ 30,168.91
121,166.15
87,058.34
$238,393.40
$
250,000.00
$58,630.00 $434,791.45 $11,048.14 $28,567.60 $134,812.39 $238,393.40 $250,000.00
$32,030.00
$32,030.00
$10,000.00 $
5,032.50 8,775.00
$15,032.50 $ 8,775.00
$16,883.42
15,032.50
$ 1,850.92
$ $430,306.08 $ $
26,600.00 4,485.37 11,048.14 11,684.18
$26,600.00 $434, 791.45 $11,048.14 $11,684.18
$58,630.00 $434,791.45 $11,048.14 $28,567.60
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$101,037.49
8,775.00
$ 92,262.49
33,774.90
$•33,774.90
238,393.40
$238,393.40
$260,000.00
10,000.00
$250,000.00
$134,812.39 $238,393.40 $250,000.00
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CITY. OF LINO LAKES
Anoka.County, Minnesota.
SUMMARY OF CASH RECEIPTS AND °DISBURSEMENTS' -BY FUNDS
For-the Year -Ended December 31, 1974
Fund Add Add
Balance Cash Transfers.
Fund- Sch. 1/1/74 Receipts In,
General B -1 $ 17,154.75 $ 68,159.79 $ 7,755.00
Fire Protection B -2 2,018.38 9,614.42
Police B -3 (810.44) 26,684.41 3,000.00
Civil Defense B -4 1,976.64 1,035.84
Parks and Playgrounds B -5 5,653.88 10,069.83
Road and Bridge B -6 1,685.81 78,303.63 18,000.00
Revenue Sharing B -7 26,781.00 29,574.00
*Debt Service No. 1 B -8 13,189.88 14,226.80
SAC B -9 12,474.00
Metro Sewer B -10 25,290.78 1,057.36
Water and Sewer Operating B -11 (13,998.43) 12,706.93 15,300.00
Water and Sewer. Construction B -12 53,195.16
* *Debt Service No. 2 B -13 190,795.13 364,599.51 53,195.16
Totals $322,932.54 $628,506.52 $97,259.16
*For Municipal Building Bonds
* *For Temporary Improvement Bonds,
EXHIBIT B
Less Less. Fund Funds Consisting of
Disburse- Transfers. Balance Cash Temporary
ments Out 12/31/74 Balance Investments
$ 69,289.51 $ $ 23,780.03 $ 23,780.03 $
10,574.66 1,058.14 1,058.14
33,527.07 (4,653.10) (4,653.10)
1,057.13 1,955.35 1,955.35
14,919,46 804.25 804.25
108,293.88., (10,304.44) (10,304.44)
1,000.00 28,755.00 26,600.00 26,600.00
15,732.50 11,684.18 11,684.18
12,177.00 297.00 297.00
15,300.00 11,048.14 11,048.14
9,523.13 4,485.37 4,485.37
53,195.16
574,814.90
$8502909.24 $97,250.16
3.3,774.90 4,749.33
$100,529.82 $ 71,504.25
29,025.57
$29,025.57
Cash Balance Consisting. of :
Cash on Hand $ . 215.00
Bank Checking Account 27,936.91
Savings Certificates 43 352.34
Total $71,,504..25
EXHIBIT C
CITY OF LINO LAKES
Anoka County, Minnesota
COMBINED' COMPARATIVE'' BALANCE' SHEET
December- -31, 1974 and 1973
As of
ASSETS 12/31/74
Current Assets:
Cash on Hand and.in Bank $ 71,504.25
U. S. Government Securities 29,025.57
Taxes Receivable 254,660.44
Special: Assessments Receivable 101,037.49
Total Current Assets $ 456,227.75
Fixed Assets:
Land $ 30,168.91
Buildings 121,166.15
Equipment 87,058.34
Water and Sewer Systems 430,306.08
Total Fixed Assets $ 668,699.48
Deferred Assets:
Amount.to be Provided for Retirement of
Bonds $ 2501000.00
TOTAL ASSETS $1,374,927.23
LIABILITIES AND SURPLUS
Current Liabilities:
Contracts Payable $
Bonds Payable -Due Within One Year
Interest Payable -Due Within One Year
Total Current Liabilities
Non - Current Liabilities:
Bonds Payable $ 260,000.00
Less Current Maturity 10,000.00
Net Non - Current Liabilities $ 250,000.00
Deferred Revenue:
Unrealized Revenue on Cash Basis:
Receivables $ 355,697.93
Less Liabilities 23,807.50
Net Deferred Revenue $ 331,890.43
Surplus:
Contributed- Customers $ 430,306.08
Investment in Fixed Assets 238,393.40
Fund Balances 100,529.82
Total Surplus $ 769,229.30
10,000.00
13,807.50
23,807.50
TOTAL LIABILITIES AND SURPLUS $1,374,927.23
As of. Increase
12/31/73 (Decrease)
$ 228,334.29
94,598.25
208,374.02
124,354.00
$ 655,660.56
$ 30,168.91
121,166.15
68,439.84
441,786.08
$ 661,560.98
$(156,830.04)
(65,572.68)
46,286.42
(231_316.51)
$(199,432,81)
18,618.50
(11,480.00)
$ 7,138.50
$ 340,000.00 $ (90,000.00)
$1,657,221.54 $(282,294.31)
$ 2,750.00 $ (2,750.00)
560,000.00 (550,000.00)
25,507.50 (11,700.00)
$ 588,257.50 $(564,450.00)
$ 640,000.00 $(380,000.00)
560,000.00 (550,000.00)
$ 80,000.00 $ 170,000.00
$ 592,728.02 $(237,030.09)
588,257.50 (564,450.00)
$ 4,470.52 $ 327,419.91
$ 441,786.08 $ (11,480.00)
219,774.90 18,618.50
322,932.54 (222,402.72)
$ 984,493.52 $(215,264.22)
$1,657,221.54 $(282,294.31)
CITY OF LINO LAKES
Anoka County, Minnesota
I - COMMENTS ON BALANCE SHEET ITEMS
Exhibit A presents the financial condition of the City by funds as of
December 31, 1974. Similar special revenue funds are combined but details are
shown in Exhibit A -a. A; comparative balance sheet of all funds combined is
presented 4n Exhibit C, which shows the financial position of the City in
comparative form with that at the end of the preceding year. Details on
balance sheet items are shown in Schedules A -1 through A -8. Further explana-
tions, analyses, or listings are presented in the next several paragraphs of
these comments.
CASH ON HAND AND IN BANK - $71,504.25:
Petty cash funds were on hand for a total of $150.00, and in addition,
undeposited receipts of $65.00 as further detailed in Schedule A -1. The sum
of $27,936.91 was carried in the bank checking account. In addition, tempor-
ary excess funds for a total of $43,352.34 had been placed in bank savings .
certificates to be earning interest Further details on these certificates
and the bank checking account reconciliation are shown in Schedules A -2 and A -2a.
The Centennial State Bank of Lexington had been designated as the depository
for City funds. Collateral of $220,000.00 in U. S. Government bonds was pledged,
by the bank as security for City funds on deposit. Federal deposit insurance,
carried by the bank of 40,000.00 on each customer, provides additional protection
for City funds on deposit. In addition special insurance now protects municipal
investments in, certificates of deposit up to $100,000.00.
U.S. GOVERNMENT SECURITIES - $29,025.57:
Funds from the $550,000.00 sale of Temporary Improvement Bonds of 1971 were
originally invested in government securities. These funds were converted into cash .
as needed in meeting the obligations in connection with the water and sewer projects
and later in meeting the interest maturities on the bonds. The security transactions
during the year 1974 are shown in Schedule A -3.
TAXES RECEIVABLE - $254,660.44:
The 1974 tax levy, collectible in 1975, amounts to $139,729.00, as detailed in
Schedule A -4 by funds. The local government state aid, collectible in quarterly
installments, amounts to $69,718.22 and the Federal revenue sharing in 1975 to about
$32,030.00 based on amount receivable for entitlement period ending June 30, 1975.
Delinquent taxes, levied for prior years, amount to $13,183.22 for the last six
years, as summarized in Schedule A -5.
SPECIAL ASSESSMENTS -p01,037.49:
Water and sewer were made against property owners in - the.,Chomonix development
originally for a total of $461,865.52. Unpaid assessments were spread over a
seven -year period with interest at 8% from the assessment date, October 24, 1972.
Office collections and on tax rolls during 1974 amounted to $92,000.60 and $79,369.14,
respectively, together with interest.
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The amount of $54,078.10, together with interest, represents the current installment
which was placed on the 1974 tax rolls to be collected in 1975. Delinquent assess -
ments represent the-assessments-placed on the 1972 and 1973 tax rolls but uncollected,
amounting to $46,959.39.
FIXED ASSETS (PROPERTIES) - $668,699.48:
General properties are summarized in ,Schedule A -6, totaling $238,393.40.
Additions for a total of $18,618.50 during 1974 are detailed in Schedule A -6a. Where
original costs are not readily available, valuations are based on insurable and
estimated values as used on a recently prepared inventory of properties.
Construction of water and sewer service for the Chomonix development begun late
in the year 1971 is summarized in,Schedule A-7, totaling $441,786.08. Inasmuch as
the operation of these services had been quite limited, no depreciation was taken on
these properties in prior years. Beginning with the year 1974, a depreciation policy
was established and the annual depreciation amounted to $11,480.00.
CURRENT LIABILITIES - $23,807.50:
The current maturities on;the Municipal - Building bonds amount to $10,000.00 and
the interest to $13,807.50, payments due within one year.
The Temporary Improvement Bonds of 1971 for $550,000.00 became due,November;l,
1974, and were paid off. General Obligation-Improvement Bonds of 1974 for $180,000.00
were sold in meeting the indebtedness on the 1971 bonds.
NON- CURRENT LIABILITIES - $250,000.00:
The balance of the bonded indebtedness, remaining outstanding after excluding
payments becoming due within one year, has been classified as a non- current liability
on the, balance sheet. Details on the bonds outstanding are shown in Schedules A -8 and
A -8a.
DEFERRED REVENUE - $331,890.43:
Since the City funds are maintained on a cash.basis, the unrealized revenue from
receivables, reduced by liabilities, is shown,as an.offsetting contra account --
deferred revenue. In other words, no revenue:is reflected in,the funds until received
in cash, nor are liabilities (unpaid bills) reflected .in disbursements until paid in
cash. The receivables and payables are reflected on the balance sheet for information
purposes only.
SURPLUS - $769,229.30:
The net worth of the City is reflected by the surplus accounts. Contributed
surplus of.$430,306.08 represents the costof water and sewer facilities assessed
against. benefited property owners, decreased . by.other -costs incurred and by
depreciation. Surplus Invested in Fixed Assets represents the .,City's investment in
general fixed properties, totaling $238,393..40. Fund :balances represent cash or
investments only, since the various City funds are maintained on a.cash basis.
II - COMMENTS ON FUND TRANSACTIONS
Exhibit B presents a summary of the cash receipts and disbursements by
funds for the year 1974, showing the fund balances as of December 31, 1974.
Schedules B -1 through B -13 present detailed analyses of the cash transactions
in the various funds together with coinparable budget estimates as made by the
City Council a year in advance. Condensed comparisons of receipts and
disbursements for the General Fund and for the Road and Bridge Fund with those
of the prior year are presented in Schedules B -la and B -6a, respectively. These
schedules should be helpful in making comparisons of fund transactions of the
two lar$est and most,important' funds of the City for the past two years.
All other funds ended with debit balances (in the black) this year, with the
exception of the Police Fund and the Road - and'.Bridge Fund (in the red),
$4,653.10 and $10,304.44, respectivly. In total, all cash fund balances at
$100,529.82, including investments, decreased by $222,402.72 from the total
balances at the beginning of the year. Excluding Debt Service No. 2 funds, the
remaining funds decreased by $12,187.33.
We confirmed the tax receipts directly with the County Auditor. Other
receipts were ,checked against copies of receipts issued, licenses and other
supporting memoranda. Disbursements were properly listed in Council minutes,
supported by invoices and checks signed by the Mayor and the Clerk- Treasurer.
III - GENERAL COMMENTS
Based on our examination of the accounts and records of the City Clerk -
Treasurer, we conclude that the records are reasonably well kept. The City
is.in a sound financial condition with a reasonable cash balance remaining at
the end of the year to be carried into the next year. Books are maintained on
the usual cash basis as is customary for smaller municipalities. For the Balance
Sheet, Exhibit A, we have tried to develop as complete a financial picture as
reasonably possible by including all significant known assets and liability by
funds.
Details on the assessed valuation of property on.the tax rolls and the tax
levies, as voted by the Council are shownin Schedule 1 at the end of this
report, on a comparative basis for the last three, years. The assessed valuation
at market value of $9,058,485.00 increased by $1,034,204.00, or 12.89 %, from that .
of the previous year.
Insurance and bonds in force are detailed in Schedule 2 at the very end.of
the report -. Adequate coverages appear to be carried on,the usual risks as your
insurance requirements have;been.reviewe0 and adjustments have been made.
-12-
Schedule A -1
CITY OF LINO LAKES
Anoka. County, Minnesota
CASH ON HAND
December 31, 1974
Petty Cash:
City Clerk's Office $150.00
Undeposited Receipts:
Receipt # Amount
5819 $ 50.00
5820 15.00
65.00
TOTAL $215.00
CITY OF LINO LAKES
Anoka.County, Minnesota
CASH-IN- °CENTENNIAL STATE BANK OF LEXINGTON
December 31, 1974
Checking Account:
Balance Per Bank Statement — 12/31/74
Less Checks Outstanding:
General:
Payroll:
Unremitted Payroll. Deductions:
4th Quarter State Withholding
4th Quarter Social Security
December P.E.R.A.
December Federal Withholding
Total Checks Outstanding
Balance Per Books Checking, Account.
Savings Certificates - (Sch. A -2a)
Total Cash in Bank
Number Amount
6101 $ 1.75
6140 1.25
6141 1.25
6143 1.25
6144 1.25
6145 1.25
6147 1.25
6149 1.00
6150 1.00
6151 1.00
6152 1.00
6153 1.00
6161 25.00
6163 15.78
6168 16,701.46
6169 121.50
6170 33.39
6190 125.97
2721 99.15
2738 112,35
2739 74.23
2743 50.00
662.70
534.48
302.34
607.50
Schedule A -2
$ 47,417.01
19,480.10
$ 27,936.91
43,352.34
$ 71,289.25
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Fund
Schedule.A -2a
CITY OF LINO LAKES
Anoka - County, Minnesota
SAVINGS-CERTIFICATES
December 31, 1974
Number Amount Fund Number Amount
General: 1823 $ 506.25 Metro Sewer 1826 $ 1,118.29
1824 506.25 1827 1,118.29
1825 506.25 1828 1,118.29
2024 538.69 1829 1,118.29
2037 942.71 1830 1,118.29
2066 877.86 1859 552.24
Sub - Total $3,878.01 1878 2,208.97
1893 552.24
Metro Sewer: 1654 $4,100.62 2065 532.04
1678 506.25 2157 712.89
1706 1,012.50 2519 450.00
1759 2,025.00 Sub -Total $20,775.45
1765 506.25 Debt Service No. 2
1810 2,025.00 2571 18,698.88
Total Savings Certificates $ 43,352.34
Schedule A -3
U. S. GOVERNMENT SECURITIES
December 31 1974
Sales Interest
Cost Price Earned
U. S. Treasury Bills:
Purchased 10/24/73 $ 94,598.25 $ $
Less Sold 7/30/74 (94,598.25) 100,000.00 5,401.75
Purchased 7/30/74 98,061.19
Less Sold 10/31/74 (98,061.19) 100,000.00 1,938.81
Purchased,9 /17/74 39,726.11
Less Sold 10 /17/74 (39,726.11) 40,000.00 273.89
Purchased 11/29/74 29,852.50
Less Sold 12 /26/74 (29,852.50) 30,000.00 147.50
Purchased 12/31/74 -Due 6/17/75 29,025.57
Totals $ 29,025.57 $7,761.95
-15-
Schedule A -4
CITY OF LINO LAKES
Anoka County, Minnesota
CURRENT TAXES RECEIVABLE
December 31, 1974
Fund Tax Levy *State Aid
General Revenue $ 13,310.00 $ 39,718.22
Shop 9,594.00
Road and Bridge 32,274.00 30,000.00
Fire Protection 12,741.00
Police 38,666.00
Parks and Playgrounds 17,244.00
Civil Defense 1,100.00
Debt Service No. 1 14,800.00
Totals $139,729.00 $ 69,718.22
Add * *Federal Revenue Sharing 32,030.00
Total Federal and State Aids
*State aid for local government including machinery aid of $1,902.21.
* *1975 annual receivable based on fiscal year ending June 30, 1975.
Year Collectible:
1974.
1973
1972
1971
1970
1969
Totals
DELINQUENT TAXES AND ASSESSMENTS RECEIVABLE
December 31, 1974
$101,748.22
Schedule A -5
Taxes Special
General Bonds *Total Assessments
$ 5,740.42 $1,129.56 $28,606.48
1,802.80 417.65 18,452.26
1,317.51 392.92
1,631.70 143.29
736.96 46.75
(129.59) (146.10)
$11,099.80 $2,083.42 $13,183.22 $46,959.39
*Distribution of Delinquent Taxes:
Revenue $ 1,110.00
Road and Bridge 8,324.80
Fire Protection 1,110.00
Parks 555.00
Debt Service No. 1 2,083.42
Total $13,183.22
Schedule A -6
CITY OF LINO LAKES
Anoka County -, Minnesota.
SUMMARY OF GENERAL FIXED- ASSETS
December 31, 1974
1974
Balance Additions Balance
Description 1/1/74 (Removals) 12/31/74
Land:.
Main Street - 30 Acres $ 18,146.94 $ $ 18,146.94
Sunrise Park - 20 Acres 10,000.00 10,000.00
*Lino Lakes Park
Lots - Road Site 1,964.47 1,964.47
Tax Forfeited Land.- 5 Parcels 57.50 57.50
Total ,Land $ 30,168.91 $ 30,168.91,
Buildings:
Municipal Building $100,166.15 $ $100,166.15
* *Sunrise Park Buildings 20,000.00 20,000.00
* *Lino Lakes Park Building 1,000.00 1,000.00
Total Buildings $121,166.15 $121,166.15
Furniture and Equipment:
Road and Bridge;
Motor Vehicles $ 19,857.00 $11,655.00 $ 31,512.00
Other Equipment 4,000.20 28.00 4,028.20
Shop Equipment, 5,769.16 5,769.16
Civil Defense 3,498.10 28.00 3,526.10
Municipal Building - General 1,637.07 332.58 1,969.65
Clerk's Office 7,060.68 630.00 7,690.68
Police 10,436.85 984.10 11,420.95
Fire Protection 934.50 934.50
Parks and Playgrounds 15,246.28 4,960.82 20,207.10
Total Furniture and Equipment $ 68,439.84 $18,618.50 $ 87,058.34
TOTAL GENERAL FIXED ASSETS $219)774.90 $18,618.50 $238,393.40
*Cost,nor present value not readily available.
* *Insurable values.
CITY OF LINO LAKES
Anoka County, Minnesota
ADDITIONS TO GENERAL FIXED ASSETS
For the Year Ended December 31, 1974
Furniture and Equipment:
Civil. Defense:
Desk
Road and Bridge:
Motor Vehicles:
1974 Ford Truck
Other Equipment:
Desk
Municipal Building - General:
Humidifier
Voting Booths
Clerk's Office:
IBM Typewriter
Police:
Guns (2)
Resuscitator
Regency Monitor
File Cabinets
Parks and Playgrounds:
Fence at Lino Park
Lighting at Hall Park
Low Boy Cub Tractor
Total Additions
$ 65.64
266.94
$ 272.00
191.85
165.00
355.25
$2,423.00
387.82
2,150.00
Schedule A -6a
$ 28.00
11,655.00
28.00
332.58
630.00
984.10
4,960.82
$18,618.50
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Description of Bonds
1) Temporary Improvement
2) Municipal Building
3) G.O. Improvement Bonds of 1974
Schedule A -8
CITY. OF LINO LAKES
AnokaaCounty, Minnesota,
BONDED INDEBTEDNESS
December 31, 1974
Balance 1974 Balance
1/1/74 Issued Payments 12/31/74
$550,000.00 $ $550,000.00 $
90,000.00 10,000.00 80,000.00
180,000.00 180,000.00
Totals $640,000.00 $180,000.00 $560,000.00 $260,000.00
1 Details on Bond Issues Outstanding:
Date of Amount of Interest Payment Maturity
Issue Issue Rates Dates Date
II1) 11/1/71; $550,000.00 3.60% 5/1/.& 11/1 11/1/74
2) 3/1/70 100,000.00 6.50 - 6.80% 3/1 & 9/1 3/1/82
II3) 10/15/74 180,000.00 *6.50% 1/15 & 7/15 1/15/81
*Net Interest Cost 6.85762%
1 Schedule A -8a
DETAILS ON PRINCIPAL AND INTEREST ON BONDS BY YEARS
December 31, 1974
IIMunicipal Building Bonds:
1 Principal Interest_ *Tax
March 1 March 1
September,1 Levy
1 1974 $ $ $ $15,500.00
1975 10,000.00 2,685.00 2,347.50. 14,800.00
1976 10,000.00 2,347.50 2,022.50 14,100.00
1977 10,000.00 2,022.50 1,692.50 13,400.00
1 1978 10,000.00 1,692.50 1,357.50 12,700.00
1979 10,000.00 1,357.50 1,020.00 12,000.00
1980 10,000.00 1,020.00 680.00 11,300.00
I 1981 10,000.00 680.00 340.00
1982 10,000.00 340.00
IITotal $80,000.00 $12,145.00 $9.,460.00 $93,800.00
II*Collectible-during year following levy.
1
(Continued)
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Schedule A -8a
CITY OF LINO ,LAKES (Page 2)
Anoka County, Minnesota.
DETAILS ON PRINCIPAL AND`. INTEREST ON°BONDS'BY YEARS (Cont.)
December 31, 1974
Improvement Bonds of 1974:
Due Bond
Date Number Principal Interest Total Due
7/15/75 $ $ 8,775.00 $ 8,775.00
1/15/76 5,850.00 5,850.00
7/15/76 5,850.00 5,850.00
1/15/77 1 - 8 40,000 5,850.00 45,850.00
7/15/77 4,550.00 4,550.00
1/15/78 9 - 15 35,000 4,550.00 39,550.00
7/15/78 3,412.50 3,412.50
1/15/79 16 - 22 35,000 3,412.50 38,412.50
7/15/79 2,275.00 2,275.00
1/15/80 23 - 29 35,000 2,275.00 37,275.00
7/15/80. 1,137.50 1,137.50
1/15/81 30 - 36 35,000 1,137.50 36,137.50
Totals $180,000 $49)075.00 $229,075.00
-21-
CITY OF LINO LAKES
Anoka County, Minnesota
GENERAL FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year.Ended December 31, 1974
Balance - January 1, 1974
Receipts:
Tax Settlements:
General Revenue
Mortgage Registry
Penalties and Interest
Sundry Delinquent Taxes
Licenses, and Permits:
Liquor
Beer.
Cigarette
Special Use Permits
Dance
Building and Moving Permits
Plumbing Permits
Dog and Kennel
Contractor and- Business
Sign Permits
State Tax Apportionments:
Local, Government Aid
Machinery Aid
Refunds and Reimbursements:
Actual
$ 9,478.44
362.75
769.04
110.36
$10,150.00
335.00
120.00
36.00
600.00
3,319.41
855.00
291.00
175.00
2,327.00
$32,811.01
1.907.21
Insurance Refunds $ 355.00
Insurance. Claims 498.00
Other 118.12
Charges for Current Services:
SAC Handling
Dog Handling
Rezoning, Variances and Assessment
Searches
Miscellaneous Revenue:
Interest Earned on C.D.'s
County Gopher Bounty
Total Cash Receipts
Transfer In:
Revenue Sharing Fund
Total to Account For
-22-
$ 126.00
580.00
324.75
$ 2,449.00
61.70
$ 17,154.75
10,720.59
18,208.41
34,718.22
971.12
Schedule B -1
Budget
Estimate
$ 5,604.00
11,000.00
235.00
150.00
200.00
200.00
2,500.00
1,300.00
100.00
200.00
1,750.00
$17,635.00
$32,811.00
500.00
250.00
500,00
1,030.75 $ 750.00
$ 75.00
200.00
2,510.70 $ 275.00
$ 68,159.79 57 575.00
7,755.00
$ 93,069.54
(Continued)
CITY OF LINO LAKES
Anoka County, Minnesota.
GENERAL FUND CASH RECEIPTS AND'DISBURSEMENTS
For the Year Ended December -31, 1974
Actual
Schedule B -1
(Page 2)
Budget
Estimates
Disbursements:
City Council:
Salaries $ 3,000.00 $ 3,450.00
Expense Allowance 1,200.00 1,200.00
Telephone 1,217.21 1,100.00
Fuel 927.87 1,000.00
Electricity 1,015.12 800.00
Insurance and Bonds 3,826.18 4,100.00
Membership Dues 37.00 500.00
Building Maintenance, Labor and
Supplies 1,831.36 1,200.00
$13,054.74 $13,350.00
Elections:
Salaries $ 993.13 $ 400.00
Supplies 25.00 100.00
1,018.13 $ 500.00
Finance:
Salary of Clerk - Treasurer $ 8,125.00 $ 7,800.00
Salaries of Assistants 3,799.34 1,400.00
Office Supplies and Expenses 1,860.92 1,000.00
Payroll Taxes 6,958.56 4,100.00
Auditing Service 2,250.00 1,600.00
Surcharges - Building and Plumbing 826.04 500.00
Sales Tax 50.37
Fiscal Services 200.00
23,870.23 $16,600.00
Assessing:
Salaries 3,652.54 3,500.00
Legal:
Professonal Services $12,661.89 6,000.00
Printing and Publishing 492.10 1,000.00
13,153.99 $ 7,000.00
Planning and Zoning:,
Engineering Services $ 2,396.50 $ 1,500.00
Planning Consultant 2,860.00 2,500.00
5,256.50 $ 4,000.00
Protective Inspection?
Fire Marshall $ 236,60 $ 304.00
Building Inspection 1,109.55 1,000.00
Plumbing Inspection 571.20 750.00
Weed Inspection 62.80 300.00
1,980.15 $ 2,354 0
Animal Control:
Dog Catcher $`2,956.00 $ 2,300.00
Gopher Bounties 198.50 200.00
3,154.50 $ 2,300.00
(Continued)
-23-
CITY OF LINO.LAKES
Anoka County, Minnesota.
GENERAL FUND CASH RECEIPTS AND DISBURSEMENTS
-- For the Year Ended December 31, 1974
Actual
Refunds and Reimbursements:
Licenses and Permits $ 20.00
Salaries 178.45
Miscellaneous 100.20
Bulk Gasoline
*Less Distribution
Capital Outlay:
Land Contract Payment
Land Contract Interest
Voting Booths (5)
Humidifier
IBM Typewriter
Total Disbursements
Balance - December 31, 1974.
$6,549.04
$2,750.00
137.50
266.94
65.64
630.00
*Distributed to Other Funds in Gallonage Basis.
$ 298.65
Schedule B -1
(Page 3)
Budget
Estimate
500.00
3,000.00
2,900.00
3,850.08
$69,289.51 $56,004.00
$23780.03
Schedule B -la
CITY OF LINO LAKES
Anoka County, Minnesota
CONDENSED COMPARISON OF CASH RECEIPTS AND DISBURSEMENTS - GENERAL FUND
For the Years Ended December 31, 1974 and 1973
Year Year
1974 1973
Increase
(Decrease)
Balance - Beginning of Year $17,154.75 $ 33,558.75 $(16,404.00)
ADD:
Receipts:
Tax Settlements
Licenses and Permits
State. Tax Apportionments
Refunds and Reimbursements
Charges for Current Services
Miscellaneous - Revenue
Total Receipts
Transfers In:
Revenue Sharing Fund
Total to Account For
DEDUCT:
Disbursements:
City Council.
Elections
Finance
Assessor
Legal
Planning and Zoning
Protective Inspection
Animal Control
Refunds
Capital Outlay
Total Disbursements
Transfers Out to Other Funds:.
Revenue Sharing Fund
Police Fund
Total Transfer Out
Total Deductions
Balance - End of Year
$10,720.59 $ 5,146.22 $ 5,574.37
18,208.41 19,025.57 (817.16)
34,718.22 56,640.26 (21,922.04)
971.12 628.20 342.92
1,030.75 679.10 351.65
2,510.70 1,661.25 849.45
$68,159.79 $ 83,780.60 $(15,620.81)
7,755.00 7,755.00
$93,069.54 $117,339.35 $(24,269.81)
$13,054.74 $ 15,624.26 $ (2,569.52)
1,018.13 357.00 661.13
23,870.23 18,475.22 5,395.01
3,652.54 3,540.00 112.54
13,153.99 12,260.27 893.72
5,256.50 10,482.75 (5,226.25)
1,980.15 3,821.68 (1,841.53)
3,154.50 2,733.25 421.25
298.65 1,028.38 (729.73)
3,850.08 3,696.74 153.34
$69,289.51 $ 72,019.55 $ (2,730.04)
$ $ 10,008.00 $(10,008.00)
18,157.05 (18,157.05)
$ $ 28,165.05 $(28,165.05)
$69,289.51 $100,184.60 $(30,895.09)
$23,780.03 $ 17,154.75 $ 6,625.28
CITY OF LINO LAKES
Anoka County, Minnesota
FIRE PROTECTION FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1974
Actual
Balance - Janaury 1, 1974 $ 2,018.38
Receipts:
Tax Levy
Total to Account For
Disbursements:
Fire Contract - Centerville
Fire Contract - Lexington
Total Disbursements
$3,500.00
7,074.66
Schedule B -2
Budget
Estimate
9014.42 $10,105.00
$11,632.80
10,574.66 9,800.00
Balance - December 31, 1974 $ 1,058.14
POLICE FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1974
Actual
Balance - January 1, 1974 $ (810.44)
Receipts:
Tax Levy
State Aid
Police Contract with Centerville
Reimbursement - Youth. Center
Animal Handling
Sale of,Auto
Municipal Court Fines
Total Receipts
Transfers In:
Revenue Sharing Fund
Total to Account For
Disbursements:
Salaries — Police
Salaries - Police Clerk
Wage Reimbursements
Uniforms
General Supplies
Auto Repairs
Gasoline
Equipment Repairs
Office Supplies
Capital Outlay:
1974 Ford
Guns - .357 Magnum
Resuscitator
Regency Monitor
File Cabinets
Total Disbursements
Balance - December 31, 1974
$19,495.45
2,272.46
2,541.31
769.25
8.00
176.52
1.421.42
$16,319.00
3,603.47
331.23
1,496.89
940.73
2,149.96
2,730.95
258.20
565.54
4,147.00
272.00
191.85
165.00
355.25
-26-
26,684.41
3,000.00
$28,873.97
Schedule 8 -3
Budget.
Estimate
$21,600.00
2,500.00
3,000.00
500.00
$27,600.00
$20,000.00
1,500.00
550,00
500.00
4,600.00
900.00
33,527.07 $28,050.00
$(4,653.10)
CITY OF LINO LAKES
Anoka County, Minnesota
CIVIL DEFENSE FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1974
Actual
Balance - January 1, 1974. $ 1,976.64
Receipts:
Tax Levy
Total to Account For
Disbursements:
Director's Expense Allowance
General Supplies and Repairs
Gasoline
Float Supplies and Costumes
Capital Outlay:
Disk
Total Disbursements
$ 300.00
374.94
32.20
321.99
28.00
1,035.84
$ 3,012.48
Schedule B -4
Budget
Estimate.
$ 1,000.00
$ 300.00
600.00
100.00
1,057.13 $ 1 ,000.00
Balance - December 31, 1974 $ 1 955.35
PARKS AND PLAYGROUNDS FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1974
Actual
Balance - January 1, 1974 $ 5,653.88
Receipts:
Tax Levy
Local Government State Aid
Miscellaneous Revenue
Total Receipts
Total to Account For
$5,008.70
5,000.00
61.13
Disbursements:
Salaries and Wages $5,589.00
Utilities and Fuel 555.67
Gasoline 222.46
General Supplies 38.97
Building and Grounds Maintenance 1,187.93
Baldwin Lake Park Property Lease 1.00
Community Education Program 1,416.65
Equipment Repairs and Rental 946.96
Capital Outlay:
Lighting at Hall Park
Fence at Lino Park 2,423.00
Low Boy Cub Tractor 2,150.00
Total Disbursements
10,069.83
$15,723.71
387.82
Schedule B -5
Budget
Estimate
$ 5,150.00
4,000.00
1,100.00
474.00
750.00
1.00
2,000.00
475.00
1,200.00
14,919.46 $10,000.00
Balance - December 31, 1974 $ 804.25
-27-
CITY OF LINO LAKES
Anoka County, Minnesota
ROAD AND BRIDGE FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year,Ended December 31, 1974
Actual
Balance - January 1,. 1974 $ 1,685.81
Receipts:
Tax Levy $47,358.87
Local Government State Ald 30,000.00
Material and Supplies Sold or. Refunded, 944.76
Total Receipts
Schedule B -6
Budget
Estimate
$47,900.00
30,000.00
78,303.63 $77,900.00
Transfers In From Other Funds:
Revenue Sharing Fund 18,000.00
Total to Account For $ 97,989.44
Disbursements:
Labor
Contracted Road Work
Shop and Equipment Repairs
Street Lighting
Gas and Oil
General Supplies
Capital Outlay:
1974 Ford Truck
Desk
$17,494.15
73,634.73
621.61
2,171.65
1,663.46
1,025.28
11,655.00
28.00
18,000.00
54,500.00
500.00
2,000.00
1,000.00
Total Disbursements 108,293.88 $76,000.00
Balance - December 31, 1974 $(10,304.44)
CITY OF LINO LAKES
Anoka County, Minnesota
ROAD AND BRIDGE FUND
CONDENSED COMPARISON OF CASH RECEIPTS AND DISBURSEMENTS
For the Years Ended December 31, 1974 and 1973
Cash Balance - Beginning of Year
ADD:
Receipts:
Tax Settlements
State Aid
Other Revenue
Total Receipts.
Transfer In:
Revenue Sharing Fund
Total to Account For
DEDUCT:
Disbursements:
Labor
Contracted Road Work
Other Road Work
Equipment Maintenance and Supplies
Gas and.011
Street Lighting
Capital Outlay
Total. Disbursements
Cash Balance,- End of Year
Year.
1974
$ 1,685.81
$ 47,358.87
30,000.00
944.76
$ 78,303.63
18,000.00
$ 97,989.44
$ 17,494.15
73,634.73
1,646.89
1,663.46
2,171.65
11,683.00
$108,293.88
$(10,304.44)
Year.
1973
$ 41,352.16
Schedule B -6a
Increase.
(Decrease)
$(39,666.35)
$ 75,314.95 $(27,956.08)
10,000.00 20,000.00
562.63 382.13
$ 85,877.58 $ (7,573.95)
11,030.00 6:970.00
$138,259.74 $(40,270.30)
$ 15,363.68 $ 2,130.47
95,329.07 (21,694.34)
15,844.34 (15,844.34)
3,023.01, (1,376.12)
815.91 847.55
2,034.30 137,35
4,163,62 7,519.38
$136,573.93 $(28,280.05)
$ 1,685.81 $(11,990.25)
CITY OF LINO LAKES
Anoka County, Minnesota
REVENUE SHARING FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1974
Balance - January 1, 1974
Receipts:
Federal, Revenue Sharing
Total to Account For
Disbursements:
Tree Inspection
Transfers Out to Other, Funds:
General Fund
Road Fund
Police Fund
Total Transfers Out
Balance - December 31, 1974
*DEBT SERVICE NO. 1 FUND CASH RECEIPTS AND DI
For the Year Ended December 31, 197
Balance - January 1, 1974
Receipts:
Tax Levy
Total to Account for
Disbursements:
Principal — Building Bonds
Interest - Building Bonds
Service Charges
Total Disbursements
Balance December 31, 1974
*For Municipal Building Bonds
Schedule $ -7
$26,781.00
29,574.00
$56,355.00
$ 1,000.00
7,755.00
18,000.00
3,000.00
$28,755.00 29,755.00
$26,600.00
Schedule B -8
SBURSEMENTS
4
$13,189.88
14,226.80
$27,416.68
$10,000.00
5,707.50
25.00
15,732.50
$11,684.18
Schedule B -9
CITY OF LINO LAKES
Anoka County, Minnesota
*SAC FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1974
Balance - January 1, 1974 $ -0-
Receipts:
Residential Building Permits - 42 @ $300.00 $12,600.00
Less 1% Charge to General Fund 126.00 $12,474.00
Total to Account For $12,474.00
Disbursements:
Remittances to Metro Sewer Board - 41 @ $297.00 12:177.00
Balance December 31, 1974 $ 297
*Sewer Availability Contracts.
Schedule B -10
METRO SEWER: FUND CASH RECEIPTS , AND DISBURSEMENTS
For the Year'Ended December 31 -, 1974
Balance - January 1, 1974 $25,290.78
Receipts:
Hookup Charges
Tax Levy
Interest on Savings Certificates.
Total.Receipts 1,057.36
$ 400.00
157.36
500.00
Total to Account For $26,348.14
Disbursements $ -0-
Transfers Out:
Water and Sewer Operating Fund 15,300.00 15300.00
Balance - December 31, 1974 $11,048.14
Schedule B -11
CITY OF LINO LAKES
Anoka.County, Minnesota,
WATER AND SEWER OPERATING FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended- December 31, 1974
Balance - January 1, 1974 $(13,998.43)
Receipts:
Sale of Meters
Water Charges
Sewer Charges
Sewage Hauling Revenue
Deposits on Service
Sales Tax Collected
Total Receipts
Transfer In:
Metro Sewer Fund — Hookups
Total to Account For
$ 585.00
1,630.40
1,186.00
8,925.00
315.00
65.53
Disbursements:
Metro Sewer Charges $ 861.44
Labor 4,152.91
Gasoline 1,900.77
Electricity and Heat 1,127.23
Repairs and Supplies 1,188.55
Meter Purchases 292 23
Total Disbursements
12,706.93
15,300.00
$ 14,008.50
9.523.13
Balance - December 31, 1974 $ 4,485.37
Schedule B -12
WATER AND SEWER CONSTRUCTION FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year ,Ended December 31, 1974
Balance - January 1, 1974
Receipts
Total to Account For
Disbursements
Transfers Out:
Debt-Service ND. 2
Balance - December 31,-1974
$ -0-
53,195.16
$ 53,195.16
-0-
$ 53,195.16
53,195.16
$ -0-
Schedule B -13
CITY OF LINO LAKES
Anoka County, Minnesota
*DEBT SERVICE NO. 2 FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1974
Balance - January 1, 1974 $190,795.13
Receipts:
Sale of G.O. Improvement Bonds
Interest on Savings Certificates
Interest on U. S. Treasury Bills
Special Assessments- Tax - ,Settlements
Special Assessments - Office Collections.
Total Receipts
Transfer In:
Water and Sewer Construction Fund
Total to Account For
Disbursements:
Interest and Service Charges on Bonds
Principal Retired - 1971 Issue
Bond Rating
Fiscal Services
Legal Services
Total Disbursements
Balance - December 31, 1974
*For G. 0. Improvement Bonds of 1974.
Balance Consisting of:
Cash in Bank
Temporary Investments
Total
$177,755.00
7,712.82
7,761.95
79,369.14
92,000.60
$ 19,998.00
550,000.00
650.00
3,345.00
821.90
$ 4,749.33
29,025.57
364,599.51
53,195.16
$608,589.80
574,814.90
$ 33,774.90
33 774.90
Analysis of Investments:
Balance — January 1, 1974 $ 94,598.25
Add Purchases 196,665.37
Total $291,263,62
Deduct Sales $270,000.00
Less Interest Earned 7,761.95
Cost Recovery 262 238.05
Balance - December 31, 1974 $ 29,025.57
CITY OF LINO LAKES
Anoka County, Minnesota
ASSESSED VALUATIONS, TAX LEVIES AND TAX RATES
December 31, 1974
Year Assessed:
Year Collectible:
ASSESSED VALUATIONS:
Real Estate,
Personal Property.
Totals
*TAX LEVIES BY COUNTY AUDITOR;
Revenue
Road and Bridge
Community Service
Fire Protection
Parks and Playgrounds
Civil Defense
Bonds
Totals
TAX LEVIES IN MILLS:
Revenue
Road,and Bridge
Community Service
Fire Protection
Parks and. Playgrounds
Civil Defense
Bonds — Municipal Building
Totals
1974 1973
1975 1974
$8,199,603.00 $7,397,943.00
858,882.00 626,338.00
$9,058,485.00 $8,024,281.00
$ 13,310.00
32,274.00
61,001.00
17,244.00
1,100.00
14> 800.00
85,209.00
5,150.00
1,000.00
15,500.00
$ 139,729,00 $
1.46
3.54
6.70
1.89
.12
1.63
* *15.34
*Levy as certified to County Auditor per Council
* *Mill rate adjusted for fiscal disparities.
resolution.
106,859.00
10.62
.64
.13
1.93
13.32
Schedule 1
1972
1973
$6,462,222.00
576,092.00
$7,038,314.00
$ 2,994.00
78,500.00
8,660.00
16,400.00
$
106t554.00
2.32
15.08
CITY OF LINO LAKES
Anoka. County, Minnesota.
INSURANCE AND -BONDS IN FORGE
December.31, 1974
Company Policy No. Term Expires
Auto - Owners Insurance,Company 08240541 3,Years 8/26/77
Auto - Owners Insurance,Company 08165486 17Year. 8/26/75
Great.Central Insurance Company C 58684 1 Year 3/31/75
Auto - Owners Insurance Company. 687006-
08607306 3 Years 2/14/77
Auto - Owners Insurance Company 08610008 1 Year 2/14/75
Auto - Owners Insurance Company 08607943 1 Year 3/13/75
Maryland Casualty Company. 94- 229271 7 Years 9/30/79
Amount
Coverage •
Multi- Peril Policy: Annual
*Fire and Extended Coverage - Building and
Contents
$238,946.00 90% Co- Insurance Clause
Comprehensive Liability: Annual
300/300M Municipality - Bodily Injury Liability
100M - Property Damage Liability
Replacement Glass Coverage - 18 Plates
$ 17,713.00 Schedule Property Floater - $50 Deductible
5,000.00 Assessor's Books
Automobile Policy:
100 /300M Fleet Auto - Bodily Injury Liability
10M - Property Damage Liability
A.C.V. (14 Listed - Comprehensive
A.C.V. (Vehicles) - Colliss.ion - $100 Deductible
100 /300M - Uninsured Motorist
100 /300 /10M - Non - Ownership
Statutory
10,000.00
$ 30,000.00
500.00
2,000.00
S hedule 2
Premium
$1,937.00
1,645.38
W•rkmen's Compensation 987.00
Binds;
Blanket Position Bond - All Employees
C erk- Treasurer - Edna Sarner
A= sessor's Bond - Edna Sarner
N•tary Bond - Edna Sarner
*Statement.of values f led with State but copy was,not available,
$ 459.00
$ 282.00
18.50
10.00