HomeMy WebLinkAboutAudit Report 12/31/19751
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R E P O R T O N AUDIT
CITY OF LINO LAKES
Anoka County, Minnesota
For the Year Ended December 31, 1975
HILL, MILNE, GUTTORMSON & CO.
Public Accountants
2810 County Road 10
Minneapolis, Minnesota 55430
CITY OF LINO LAKES
Anoka County, Minnesota
C O N T E N T S
CITY OFFICIALS
ACCOUNTANTS' REPORT
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 in Centennial State Bank of Lexington 13
A -la Analysis of Savings Certificates 14
A -2 U.S. Government Securities 15
A -3 Current Taxes Receivable 16
A -4 Delinquent Taxes and Assessments Receivable 16
A -5 Summary of General Fixed Assets 17
A -5a Additions to General Fixed Assets 17
A -6 Summary of Water and Sewer Utility Properties 18
A -7 Bonded Indebtedness 19
A -7a Details on Principal and Interest on Bonds by Year 19 -20
DETAILS ON CASH RECEIPTS AND DISBURSEMENTS BY FUNDS
Schedules:
B -1 General Fund Cash Receipts and Disbursements 21 -22
B -la Condensed Comparison of Cash Receipts and Disbursements -
General Fund 23
B -2 Fire Protection Fund Cash Receipts and Disbursements 24
B -3 Police Fund Cash Receipts and Disbursements 24
B -4 Civil Defense Fund Cash Receipts and Disbursements 25
B -5 Parks and Playgrounds Fund Cash Receipts and Disbursements 25
B -6 Road and Bridge Fund Cash Receipts and Disbursements 26
B -6a Condensed Comparison of Cash Receipts and Disbursements -
Road and Bridge Fund 27
B -7 Revenue Sharing Fund Cash Receipts and Disbursements 28
B -8 Debt Service No. 1 Fund Cash Receipts and Disbursements 28
B -9 SAC Fund Cash Receipts and Disbursements 29
B -10 Metro Sewer Fund Cash Receipts and Disbursements 29
B -11 Water and Sewer Operating Fund Cash Receipts and Disburse-
ments 30
B -12 Debt Service No. 2 Fund Cash Receipts and Disbursements 30
B -13 Shop Fund Receipts and Disbursements 31
Schedules:
1 Assessed Valuations, Tax Levies and Tax Rates 32
2 Insurance and Bonds in Force 33 -34
CITY OF LINO LAKES
Anoka County, Minnesota
CITY COUNCIL AND OFFICIALS
For the Year Ended December 31, 1975
William Bohjanen
Harvey Karth
Robert Schneider
Richard Zelinka
John McLean
Edna Sarner
Joanne Prankratz
Babcock, Locher, Neilson &
Mannella
Milner W. Carley and
Associates
Beckmay, Yoder, Assoc.
Marvin Myhre
Eugene Mobley
Robert Vadnais
Donald Volk
Arnold Kelling
R. V. Ellingsen
Roy Backlin
Charles Cape
Metro Animal Patrol
Anoka County Health Dept.
Mrs. Lena Billik
Centennial State Bank of
Lexington
Forest Lake Times
Springsted, Inc.
*CITY COUNCIL
Mayor
Councilman
Councilman
Councilman and Acting Mayor
Councilman
CITY OFFICIALS
Clerk- Treasurer
Police Clerk
Attorneys
Engineers
Planner
Police Chief
Building Inspector
Plumbing Inspector
Road and Park Supervisor
Assessor
Weed Inspector
Fire Marshall
Civil Defense Director
Dog Catcher
Health Inspector
Sunrise Park Supervisor
Bank Depository
Official Newspaper
Bonding Consultants
Term
Expires
12/31/77
12/31/79
12/31/79
12/31/77
12/31/77
Indefinite
Indefinite
12/31/76
12/31/76
12/31/76
12/31/76
12/31/76
12/31/76
Indefinite
Indef inite
12/31/76
12/31/76
12/31/76
12/31/76
12/31/76
12/31/76
12/31/76
12/31/76
12/31/76
*Elected Officials (Continued)
Ed Karth
James J. Hill
Arnold Kelling
James Shearen
Bruce Houle
Kenneth Gourley
Pierre Nadeau
Lawrence Johnson
Richard Cartier
Curtis Kramer
Mrs. Harold Kelly
James Livingston
PLANNING AND ZONING BOARD
PERSONNEL COMMISSION
Chairman
PARK, RECREATION AND ENVIRONMENTAL COMMISSION
12/31/78
12/31/78
12/31/76
12/31/77
12/31/77
12/31/76
12/31/77
12/31/78
12/31/76
12/31/78
12/31/76
12/31/77
Dick Olson 12/31/78
Ted Gredvig 12/31/78
Randy Ringaman 12/31/77
Franklin Resch 12/31/78
HILL, MILNE, GUTTORMSON & CO.
Public Accountants
2810 County Road 10
Minneapolis, Minnesota 55430
ACCOUNTANTS' REPORT
Members of the City Council
City of Lino Lakes
Anoka County, Minnesota
We have examined, on a cash basis, the balance sheet and the fund
balances of the City of Lino Lakes as of December 31, 1975, 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,
1975, and the cash fund transactions for the year then ended, in conformity
with generally accepted governmental accounting principles applied on a consistent
basis. The supplementary and statistical data presented in this report have been
subjected to the same auditing procedures and, in our opinion, are stated fairly
in all material respects when taken as a whole with the basic financial statements.
Minneapolis, Minnesota
March 25, 1976
HILL, MILNE, GUTTORMSON & CO.
Waldemar A. Hill
Certified Public Accountant
ASSETS
Current Assets:
Cash on Hand
Sch.
Cash in Bank A -1
U. S. Government Securities A -2
Taxes Receivable:
Current Levy A -3
Federal and State Aids A -3
Delinquent Levies A -4
Special Assessments:
Current
Delinquent A -4
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
Anoka County,
BALANCE SHEET
December 31
Total
$ 150.00
77,947.52
18,926.16
150,519.00
119,315.57
17,417.06
44,806.50
91,039.90
$ 520,121.71
LAKES
Minnesota
BY FUNDS
, 1975
General
Fund
(Exh. A -a)
Special
Revenue
Funds
$ 150.00 $
12,591.79 (448.96)
20,295.00
54,721.57
1,518.50
116,124.00
30,000.00
13,666.34
$89,276.86 $159,341.38
$ 30,168.91 $
121,166.15
95,996.31
A -6 418,826.08
$ 666,157.45 $
$ 200,000.00 $
$1,386,279.16 $89,276.86 $159,341.38
LIABILITIES AND SURPLUS
Current Liabilities:
Bonds Payable - Due Within
One Year A -7 $ 50,000.00 $
Bond Interest Payable
(Due Within One Year) A -7 16,070.00
$ 66,070.00 $
Non - Current Liabilities:
Bonds Payable A -7 $ 250,000.00 $
Less Current Maturity 50,000.00
Net Non - Current Liabilities $ 200,000.00 $
Deferred Revenue:
Unrealized Revenue on Cash Basis:
Receivables $ 423,098.03 $76,535.07
Less Liabilities 66,070.00
Net Deferred Revenue $ 357,028.03 $76,535.07
Surplus:
Contributed - Customers $ 418,826.08 $
Investment in Fixed Assets 247,331.37
Fund Balances 97,023.68 12,741.79
Total Surplus $ 763,181.13 $12,741.79
TOTAL LIABILITIES AND SURPLUS $1,386,279.16 $89,276.86
-4-
$159,790.34
$159,790.34
(448.96)
$ (448.96)
$159,341.38
1
1
IRevenue
Sharing
Fund
1$
28,633.55
1
1
34,594.00
Water and
Sewer
Operating
Fund
Metro
Sewer
Fund
$ $
8,688.73 11,698.63
II$ 63,227.55 $ 8,688.73 $11,698.63
1$
1
1
1
1
1
1
418,826.08
$418,826.08
$ 63,227.55 $427,514.81 $11,698.63
II$ 34,594.00
$ 34,594.00
$418,826.08
28,633.55 8,688.73 11,698.63
II$ 28,633.55 $427,514.81 $11,698.63
$ 63,227.55 $427,514.81 $11,698.63
1
1
Debt
Service
No. 1 Fund
14,182.59
14,100.00
2,232.22
$30,514.81
$30,514.81
$10,000.00
4,370.00
$14,370.00
Debt
Service
No. 2 Fund
2,601.19
18,926.16
44,806.50
91,039.90
$157,373.75
EXHIBIT A
(Sch. A -5)
General
Fixed
Assets
$ 30,168.91
121,166.15
95,996.31
$247,331.37
(Sch. A -7)
General
Long -Term
Debt
200,000.00
$157,373.75 $247,331.37 $200,000.00
$ 40,000.00E--,
11,700.00
$ 51,700.00
$16,332.22 $135,846.40
14,370.00 51,700.00
$ 1,962.22 $ 84,146.40
14,182.59
$14,182.59
$250,000.00
—50,000.00
$200,000.00
$247,331.37
21,527.35
$ 21,527.35 $247,331.37 $200,000.00
$30,514.81 $157,373.75 $247,331.37 $200,000.00
-5-
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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, 1975
Fund Add Add
Balance Cash Transfers
Fund Sch. 1/1/75 Receipts In
General B -1 $ 23,780.03 $ 76,500.24 $ 2,736.00
Fire Protection B -2 1,058.14 13,311.32
i Police B -3 (4,653.10) 55,278.72 7,003.00
Civil Defense B -4 1,955.35 1,139.38
Parks and Playgrounds B -5 804.25 16,529.86 8,007.00
Road and Bridges B -6 (10,304.44) 61,656.80 11,030.00
Revenue Sharing ' B -7 26,600.00 32,671.00
*Debt Service No. 1 B -8 11,684.18 17,555.91
SAC B -9 297.00 6,435.00
Metro Sewer B -10 11,048.14 650.49
Water and Sewer Operating B -11 4,485.37 17,522.62
* *Debt Service No. 2 B -12 33,774.90 2,856.99
Shop Fund B -13 1,949.66
Totals $100,529.82 $304,057.99 $ 28,776.00
*For Municipal Building Bonds.
* *For Improvement Bonds of 1974.
-7-
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EXHIBIT B
Less Less Fund Funds Consisting of
Disburse Transfers Balance Cash Temporary
ments Out 12/31/75 Balance Investments
$ 90,274.48 $
12,391.68
69,443.50
932.71
13,417.34
67,080.01
1,861.45
15,057.50
6,732.00
13,319.26
15,104.54
1,949.66
$307,564.13
28,776.00
$ 12,741.79
1,977.78
(11,814.88)
2,162.02
11,923.77
(4,697.65)
28,633.55
14,182.59
11,698.63
8,688.73
21,527.35
$ 28,776.00 $ 97,023.68
Cash Balance Consisting Of:
Cash on Hand
Bank Checking Account
Savings Certificate
$ 12,741.79
1,977.78
(11,814.88)
2,162.02
11,923.77
(4,697.65)
28,633.55
14,182.59
11,698.63
8,688.73
2,601.19
18,926.16
$ 78,097.52 $ 18,926.16
$ 150.00
35,822.98
42,124.54
Total $ 78,097.52
-8-
CITY OF LINO LAKES
Anoka County, Minnesota
COMBINED COMPARATIVE BALANCE SHEET
December 31, 1975 and 1974
ASSETS
Current Assets:
Cash on Hand and in Bank
U.S. Government Securities
Taxes Receivable
Special Assessments Receivable
Total Current Assets
Fixed Assets:
Land
Buildings
Equipment
Water and Sewer Systems
Total Fixed Assets
Deferred Assets:
Amount to be Provided for Retirement
Bonds
TOTAL ASSETS
LIABILITIES AND SURPLUS
Current Liabilities:
Bonds Payable -Due Within One Year
Interest Payable -Due Within One Year
Total Current Liabilities
Non - Current Liabilities:
Bonds Payable
Less Current Maturity
Net Non - Current Liabilities
Deferred Revenue:
Unrealized Revenue on Cash Basis:
Receivables
Less Liabilities
Net Deferred Revenue
Surplus:
Contributed - Customers
Investment in Fixed Assets
Fund Balances
Total Surplus
of
As of
12/31/75
$ 78,097.52
18,926.16
287,251.63
135,846.40
$ 520,121.71
$ 30,168.91
121,166.15
95,996.31
418,826.08
$ 666,157.45
200,000.00
As of
12/31/74
$ 71,504.25
29,025.57
254,660.44
101,037.49
$ 456,227.75
$ 30,168.91
121,166.15
87,058.34
430,306.08
$ 668,699.48
EXHIBIT C
Increase
(Decrease)
$ 6,593.27
(10,099.41)
32,591.19
34,808.91
$ 63,893.96
8,937.97
(11,480.00)
$ (2,542.03)
250,000.00 (50,000.00)
$1,386,279.16 $1,374,927.23 $ 11,351.93
$ 50,000.00 $ 10,000.00 $ 40,000.00
16,070.00 13,807.50 2,262.50
$ 66,070.00 $ 23,807.50 $ 42,262.50
$ 250,000.00 $ 260,000.00 $(10,000.00)
50,000.00 10,000.00 40,000.00
$ 200,000.00 $ 250,000.00 $(50,000.00)
$ 423,098.03 $ 355,697.93 $ 67,400.10
66,070.00 23,807.50 42,262.50
$ 357,028.03 $ 331,890.43 $ 25,137.60
$ 418,826.08 $ 430,306.08 $(11,480.00)
247,331.37 238,393.40 8,937.97
97,023.68 100,529.82 (3,506.14)
$ 763,181.13 $ 769,229.30 $ (6,048.17)
TOTAL LIABILITIES AND SURPLUS $1,386,279.16 $1,374,927.23 $ 11,351.93
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, 1975. Similar special revenue funds are combined but details are
shown in Exhibit A -a. A comparative balance sheet of all funds combined is
presented in 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 -7. Further explana-
tions, analyses, or listings are presented in the next several paragraphs of
these comments.
CASH ON HAND AND IN BANK - $78,097.52:
Petty cash funds were on hand for a total of $150.00. The sum of $35,822.98
was carried in the bank checking account. In addition, temporary excess funds
for a total of $42,124.54 had been placed in bank savings certificates to be
earning interest. The bank checking account reconciliation is shown in Schedule A -1,
and further details on savings certificates are shown in Schedule A -la.
The Centennial State Bank of Lexington had been designated as the depository
for City funds. Collateral of $75,000.00 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 - $18,926.16:
This investment represents temporary excess funds from the water and sewer
projects to be used in paying principal and interest maturities on General Obli-
gation Improvement Bonds of 1974. The security transactions during the year 1975
are shown in Schedule A -2.
TAXES RECEIVABLE - $287,251.63:
The 1975 tax levy, collectible in 1976, amounts to $150,519.00, as detailed
in Schedule A -3 by funds. The local government state aid, collectible in quarterly
installments, amounts to $84,721.57, including machinery aid of $1,907.21. Federal
revenue sharing in 1976 amounts to about $34,594.00, based on amount receivable for
entitlement period ending June 30, 1976,on which there is definite information.
Delinquent taxes, levied for prior years, amount to $17,417.06 for the last six
years, as summarized in Schedule A -4.
SPECIAL ASSESSMENTS - $135,846.40:
Water and sewer assessments 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. Collections on tax rolls during 1975 amounted to $10,723.96, together with
interest, but no office collections were made in 1975.
-10-
The amount of $44,806.50, together with interest, represents the current installment,
placed on the 1975 tax rolls to be collected in, 1976. Delinquent assessments rep-
resent the assessments placed on the 1972 to 1974 tax rolls but remain uncollected,
amounting to $91,039.90 as shown by years in Schedule A -4.
FIXED ASSETS (PROPERTIES) - $666,157.45:
General properties are summarized in Schedule A -5, totaling $247,331.37.
Additions for a total of $8,937.97 during 1975 are detailed in Schedule A -5a. 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 -6, totaling $441,786.08. Inasmuch as
the operation of these services had been quite limited, no depreciation was taken on
these properties at first. Beginning with the year 1974, a depreciation policy was
established and the annual depreciation has amounted to $11,480.00. When these
utility operations become more significant, operating statements should be prepared.
CURRENT LIABILITIES - $66,070.00:
Bond and interest maturities becoming due within one year are shown as current
liabilities, amounting to $50,000.00 and $16,070.00, respectively.
NON- CURRENT LIABILITIES - $200,000.00:
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 -7 and
A -7a.
DEFERRED REVENUE - $357,028.03:
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 - $763,181.13:
The net worth of the City is reflected by the surplus accounts. Contributed
surplus of $418,826.08 represents the cost of 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 $247,331.37. 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 1975, showing the fund balances as of December 31, 1975.
Schedules B -1 through B -13 present detailed analyses of the cash transactions
in the various funds together with comparable budget estimates as made by the
City Council a year in advance. Condensed comparisons of receipts and disburse-
ments 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 largest and most important funds of the City for the past two years. All
funds ended with debit balances (in the black) this year excepting the Police
Fund and the Road and Bridge Fund (in the red), $11,814.88 and $4,697.65,
respectively. In total, all cash fund balances at $97,023.6$, including in-
vestments, decreased by $3,506.14 from the total balances at the beginning of
the year. Information has been received by the City Clerk that no obligation
exists against the Metro Sewer Fund balance of $11,698.63. If such is the
case, this fund should be closed by appropriate council action.
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 but with somewhat low cash balance remaining
at the end of the year to be carried into the next year. The fact that de-
linquent taxes and special assessments have become a problem with your
municipality hurts your cash position. 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 liabilities
by funds.
Details on the assessed valuation of property on the tax rolls and the tax
levies as voted by the Council are shown in Schedule 1 at the end of this
report, on a comparative basis for the last three years. The assessed valuation
at market value of $10,164,971.00 increased by $1,106,486.00, or 12.21 %, from that
of the previous year. The assessed valuation for 1975 is an estimated valuation
subject to adjustment for fiscal disparities in the metropolitan area.
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 reviewed and adjustments have been made.
-12-
Schedule A -1
CITY OF LINO LAKES
Anoka County, Minnesota
CASH IN CENTENNIAL STATE BANK OF LEXINGTON
December 31, 1975
Checking Account Balance - Per Bank Statement - 12/31/75 $ 45,376.13
Less Outstanding Checks:
Number Amount
General: 6773 $ 40.50
6777 5,523.12
6789 20.00
6794 72.80
6801 276.00
6802 976.50
6806 116.51
Payroll:
3222 84.53
3261 84.53
3283 84.53
3301 75.00
3310 84.53
3315 50.00
Unremitted Payroll
Deductions 2,064.6.0
Checking Account Balance - 12/31/75
Savings Certificates - Schedule A -la
Total Cash in Bank
-13-
9,553.15
$ 35,822.98
42,124.54
$ 77,947.52
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Descrip-
tion &
CD #
General
1823
1824
1825
2024
2037
2066
1826
1827
1828
1829
1830
1859
1878
1893
2065
2157
2519
Schedule A -la
CITY OF LINO LAKES
Anoka County, Minnesota
ANALYSIS OF SAVINGS CERTIFICATES
For the Year Ended December 31, 1975
1975
Balance Less Interest Balance
1/1/75 Additions Sold Income 12/31/75
$ 506.25
506.25
506.25
538.69
942.71
877.86
1,118.29
1,118.29
1,118.29
1,118.29
1,118.29
552.24
2,208.97
552.24
532.04
712.89
450.00
Sub -Total $14,477.84 $
Metro Sewer
1654 $ 4,100.62 $
1678 506.25
1706 1,012.50
1759 2,025.00
1765 506.25
1810 2,025.00
1,133.66
1,133.66
1,133.66
1,133.66
1,133.66
559.83
$ 28.42
28.42
28.42
30.24
52.92
49.29
15.37
15.37
15.37
15.37
15.37
31.00
124.02
7.59
29.87
40.03
25.26
534.67 54-/:r.0.2
534.67/ v > .....
534.67.//542.c.2
568.93/
995.63 Va oz V. c
927.15 v'
583.24
2,332.99
561.91
752.92 ✓ `t? '7 6,
475 .26' y gs /2.
$ 6,228.13 $ 552.33 $ 8,802.04,
$ 230.23 $ 4,330.85/49 ' X-'
28.42 534.67✓
56.84 1,069.34`x' Ic RIo':
113.69 2,138.69'i 2/97992 6,
28.42 534.67,/
111.05 2,136.05 ✓
Sub -Total $10,175.62 $ $ $ 568.65 $10,744.27
Debt Service #2
2571 $18,698.88 $ $ $1,049.84 $19,748.72 -a°,"-''
2678 1,260.00 34.88 1,294.88V/ ;: . L
2718 454.54 6.25 460.79
2786 1,073.84 1,073.84 ,`�
Sub -Total $18,698.88 $2,788.38 $ $1,090.97 $22,578.23
Total CD's $43,352.34 $2,788.38 $ 6,228.13 $2 211.95 r$42,124.54
-14-
Schedule A -2
CITY OF LINO LAKES
Anoka, County, Minnesota
U. S. GOVERNMENT SECURITIES
December 31, 1975
Sales Interest
Cost Price Earned
U. S. Treasury Bills:
Balance December 31, 1974 $ 29,025.57 $ $
Sold (29,025.57) 30,000.00 974.43
Purchased 19,439.67
Sold (19,439.67) 20,000.00 560.33
Purchased - Due December 14, 1976 18,926.16
Totals
$ 18,926.16 $1,534.76
IISchedule A -3
CITY OF LINO LAKES
II Anoka County, Minnesota
CURRENT TAXES RECEIVABLE
December 31, 1975
II
Fund Tax Levy *State Aid
General Revenue $ 20,295.00 $ 54,721.57
Shop 18,400.00
Road and Bridge 12,000.00 30,000.00
II Fire Protection 16,600.00
Police 48,800.00
Parks and Playgrounds 19,224.00
IICivil Defense 1,100.00
Debt Service No. 1 14,100.00
Totals $150,519.00 $ 84,721.57
IIAdd * *Federal Revenue Sharing 34,594.00
Total Federal and State Aids $119,315.57
II*State aid for local government including machinery aid of $1,907.21.
II* *1976 annual receivable based on fiscal year ending June 30, 1976.
Schedule A -4
II DELINQUENT TAXES AND ASSESSMENTS RECEIVABLE
December 31, 1975
Taxes Special
IYear Collectible: General Bonds *Total Assessments
1975 $ 8,816.49 1,077.69 $48,356.92
II 1974 2,631.61
1,322.70 487.58 25,486.78
1973 313.42 17,149.45
1972 939.55 268.49
I 1971
1970 921.48 85.04
553.01 46.75
Totals $15,184.84 $2,232.22 $17,417.06 $91,039.90
II*Distribution of Delinquent Taxes:
Revenue $ 1,518.50
II Road and Bridge 3,037.00
Fire Protection 2,277.00
Police 6,833.84
I Parks 1,518.50
Debt Service No. 1 2,232.22
Total, $17,417.06
II
II -16-
CITY OF LINO
Anoka County,
SUMMARY OF GENERAL
December 31
Description
Land:
Main Street - 30 Acres
Sunrise Park - 20 Acres
*Lino Lakes Park
Lots - Road Site
Tax Forfeited Land - 5 Parcels
Total Land
Buildings:
Municipal Building
* *Sunrise Park Buildings
* *Lino Lakes Park Building
Total Buildings
Furniture and Equipment:
Road and Bridge:
Motor Vehicles
Other Equipment
Shop Equipment
Civil Defense
Municipal Building - General
Clerk's Office
Police
Fire Protection
Parks and Playgrounds
Total Furniture and Equipment
TOTAL GENERAL FIXED ASSETS
LAKES
Minnesota
FIXED ASSETS
, 1975
Balance
1/1/75
1975
Additions
(Removals)
Schedule A -5
Balance
12/31/75
$ 18,146.94 $ $ 18,146.94
10,000.00 10,000.00
1,964.47 1,964.47
57.50 57.50
$ 30,168.91 $ $ 30,168.91
$100,166.15 $ $100,166.15
20,000.00 20,000.00
1,000.00 1,000.00
$121,166.15 $ $121,166.15
$ 31,512.00 $ $ 31,512.00
4,028.20 4,028.20
5,769.16 5,769.16
3,526.10 277.00 3,803.10
1,969.65 1,969.65
7,690.68 406.00 8,096.68
11,420.95 5,978.31 17,399.26
934.50 934.50
20,207.10 2,276.66 22,483.76
$ 87,058.34 $ 8,937.97 $ 95,996.31
$238,393.40 $ 8,937.97 $247,331.37
*Cost nor present value not readily available.
* *Insurable values.
ADDITIONS TO GENERAL FIXED ASSETS
For the Year Ended December 31, 1975
Furniture and Equipment:
Civil Defense:
Emergency Unit Installation
Clerk's Office:
Office Equipment
Police:
Patrol Car
Walkie- Talkie
Parks and Playgrounds:
Fences
Total
-17-
$ 4,953.58
1,024.73
Schedule A -5a
$ 277.00
406.00
5,978.31
2,276.66
$ 8,937.97
80'98L`T4717$
80'98L`T17*I$
00'096'ZZ$
80'9Z8`8T17$
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Description of Bonds
1) Municipal Building
2) G.O. Improvement Bonds of 1974
Totals
Details on Bond Issues Outstanding:
1)
2)
Schedule A -7
CITY OF LINO LAKES
Anoka County, Minnesota
BONDED INDEBTEDNESS
December 31, 1975
Balance 1975 Balance
1/1/75 Payments 12/31/75
$ 80,000.00 $ 10,000.00 $ 70,000.00
180,000.00 180,000.00
$260,000.00 $ 10,000.00 $250,000.00
Date of Amount of Interest Payment Maturity
Issue Issue Rates Dates Date
3/1/70 $100,000.00 6.50 -6.80% 3/1 & 9/1 3/1/82
10/15/74 180,000.00 * *6.50% 1/15 & 7/15 1/15/81
DETAILS ON PRINCIPAL AND INTEREST ON BONDS BY YEARS
December 31, 1975
* *Net Interest Cost 6.85762%
Municipal Building Bonds:
Principal Interest *Tax
March 1 March 1 September 1 Levy
1975 $ $ $ $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
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
1981 10,000.00 680.00 340.00
1982 10) 000.00 340.00
Total
$70,000.00 $9,460.00 $7,112.50 $78,300.00
*Collectible during year following levy.
Schedule A -7a
(Continued)
Schedule A -7a
CITY OF LINO LAKES (Page 2)
Anoka County, Minnesota
DETAILS ON PRINCIPAL AND INTEREST ON BONDS BY YEARS (Cont.)
December 31, 1975
Improvement Bonds of 1974:
Due
Date
7/15/76
1/15/77
7/15/77
1/15/78
7/15/78
1/15/79
7/15/79
1/15/80
7/15/80
1/15/81
Bond
Number
1 - 8
9 - 15
16 - 22
23 - 29
30 - 36
Principal
40,000.00
35,000.00
35,000.00
35,000.00
35,000.00
Interest Total Due
$ 5,850.00 $ 5,850.00
5,850.00 45,850.00
4,550.00 4,550.00
4,550.00 39,550.00
3,412.50 3,412.50
3,412.50 38,412.50
2,275.00 2,275.00
2,275.00 37,275.00
1,137.50 1,137.50
1,137.50 36,137.50
Totals $180,000.00 $34,450.00 $214,450.00
c' 1
-20-
CITY OF LINO LAKES
Anoka County, Minnesota
GENERAL FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Actual
Balance - January 1, 1975 $ 23,780.03
Receipts:
Tax Settlements
Penalties and Interest
Sundry Delinquent Taxes
Licence and Permits:
Liquor
Beer
Cigarette
Special Use Permits
Dance
Building and Moving
Plumbing
Dog and Kennel
Contractors
Sign
State Tax Apportionments:
Local Government Aid
Machinery Aid
Refunds and Reimbursements
Charges for Current Services:
Animal Handling
Rezoning, Variances and Plotting
SAC Handling
Miscellaneous Revenue:
Interest Earned on CD's
Gopher Bounty
Miscellaneous Sales
Total Cash Receipts
Transfer In:
Revenue Sharing Fund
Total to Account For
$15,248.19
1,087.69
19.12
$ 8,315.00
236.00
192.00
256.00
550.00
5,344.95
861.50
311.00
225.00
1,847.50
$37,811.01
1,907.21
$ 323.00
579.60
65.00
$ 527.07
79.40
201.12
-21-
$ 16,355.00
Schedule B -1
Budget
Estimate
$13,973.00
$11,000.00
300.00
150.00
100.00
750.00
1,000.00
200.00
200.00
200.00
2,800.00
18,138.95 $16,700.00
39,718.22
512.88
36,718.00
500.00
967.60 5,700.00
$ 75.00
200.00
807.59 $ 275.00
$ 76,500.24 $73,866.00
2,736.00 3,204.00
$103,016.27 $77,070.00
(Continued)
CITY OF LINO LAKES Schedule B -1
Anoka County, Minnesota (Page 2)
GENERAL FUND CASH RECEIPTS AND DISBURSEMENTS (Continued)
For the Year Ended December 31, 1975
Disbursements:
City Council:
Salaries
Expense Allowance
Telephone
Heat
Electricity
Insurance and Bonds
Membership Dues
Building Maintenance, Labor
and Supplies
Elections:
Salaries
Supplies
Finance and Administration:
Salaries:
Public Works Supervisor
Clerk- Treasurer
Assistants
Payroll Taxes
Office Supplies and Expense
Auditing Services
Surcharges - Building & Plumbing
Interest Expense
Fiscal Service
Assessing:
Salaries
School Expense
Legal:
Professional Services
Printing and Publishing
Planning and Zoning:
Engineering Services
Planning Consultant
Protective Inspection:
Fire Marshall
Building Inspection
Plumbing Inspection
Weed Inspection
Tree Inspection
Animal Control:
Dog Catcher
Gopher Bounties
Capital Outlay:
Office Furniture
Land Acquisition
Total Disbursements
Balance - December 31, 1975
Actual
$ 3,250.00'
1,180.00•
1,589.38
1,077.10
1,396.18
9,153.01
70.25
1,581.21
$ 256.25
115.96
$10,801.60
8,599.98
4,097.86
11,147.12
1,508.03
2,075.00
515.67
258.95
$ 3,914.50
114.91
$15,908.90
173.06
$ 2,443.50
830.00
$ 211.34
2,744.72
653.20
128.25
1,477.00
$ 2,386.25
209.30
-22-
$19,297.13
372.21
39,004.21
4,029.41
16,081.96
3,273.50
Budget
Estimate
$ 4,500.00
1,200.00
1,400.00
1,200.00
850.00
6,500.00
500.00
1,500.00
$17,650.00
$ 400.00
140.00
$ 540.00
$12,640.00
9,984.00
6,150.00
7,200.00
1,500,00
1,800.00
200.00
$39,474.00
$ 4,008.00
$10,000.00
500.00
$10,500.00
$ 2,000.00
2,500.00
$ 4,500.00
$ 396.00
2,000.00
1,050.00
450.00
5,214.51 $ 3,896.00
$ 2,500.00
2,595.55 200.00
$ 2,700.00
406.00
1,000.00
$90,274.48 $84,268.00
$12,741.92
CITY OF LINO LAKES
Anoka County, Minnesota
CONDENSED COMPARISON OF CASH RECEIPTS AND DISBURSEMENTS — GENERAL FUND
For the Years Ended December 31, 1975 and 1974
Balance - Beginning of Year
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
Schedule B -la
Year Year Increase
1975 1974 (Decrease)
$ 23,780.03 $17,154.75 $ 6,625.28
$ 16,355.00 $10,720.59 $ 5,634.41
18,138.95 18,208.41 (69.46)
39,718.22 34,718.22 5,000.00
512.88 971.12 (458.24)
967.60 1,030.75 (63.15)
807.59 2,510.70 (1,703.11)
$ 76,500.24 $68,159.79 $ 8,340.45
2,736.00 72755.00 (5,019.00)
$103,016.27 $93,069.54 $ 9,946.73
DEDUCT:
Disbursements:
City Council $ 19,297.13 $13,054,74 $ 6,242.39
Elections 372.21 1,018.13 (645.92)
Finance and Administration 39,004.21 23,870.23 15,133.98
Assessor 4,029.41 3,652.54 376.87
Legal 16,081.96 13,153.99 2,927.97
Planning and Zoning 3,273.50 5,256.50 (1,983.00)
Protective Inspection 5,214.51 1,980.15 3,234.36
Animal Control 2,595.55 3,154.50 (558.95)
Refunds 298.65 (298.65)
Capital Outlay 406.00 3,850.08 (3,444.08)
Total Disbursements $ 90,274.48 $69,289.51 $ 20,984.97
Transfers Out to Other Funds
Total Deductions
Balance - End of Year
$ 90,274.48 $69,289.51 $ 20,984.97
$ 12,741.79 $23,780.03 $(11,038.24)
-23
CITY OF LINO LAKES
Anoka County, Minnesota
FIRE PROTECTION FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Actual
Balance - January 1, 1975 $ 1,058.14
Receipts:
Tax Levy
Total to Account For
Disbursements:
Fire Contract - Centerville
Fire Contract - Lexington
Total Disbursements
$ 4,634.56
7,757.12
13,311.32
$14,369.46
Schedule B -2
Budget
Estimate
$12,576.00
12,391.68 $13,345.00
Balance - December 31, 1975 $ 1,977.78
POLICE FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Actual
Balance - January 1, 1975 $ (4,653.10)
Receipts:
Tax Levy $39,806.37
State Aid 2,562.10
Police Contract with Centerville 8,842.06
Municipal Court Fines 2,923.89
Accident Reports 69.30.
Reimbursement for Police Training School 1,075.00
Total Receipts
Transfer In:
Revenue Sharing Fund
Total to Account For
Disbursements:
Salaries
Uniforms
Insurance and Benefits
Office Supplies
Repairs and Maintenance
Miscellaneous
Shop Fund Distribution
Capital Outlay:
New Patrol Car
Walkie - Talkie
Total Disbursements
$51,577.41
980.45
198.00
1,201.28
181.00
342.15
8,984.90
4,953.58
1,024.73
55,278.72
7,003.00
$57,628.62
Schedule B -3
Budget
Estimate
$39,124.00
3,000.00
8,842.00
1,000.00
1,000.00
$52,966.00
8,007.00
$60,973.00
$52,015.00
800.00
1,200.00
1,500.00
5,000.00
69,443.50 $60,515.00
Balance - December 31, 1975 $(11,814.88)
-24-
CITY OF LINO LAKES
Anoka County, Minnesota
CIVIL DEFENSE FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Actual
Balance - January 1, 1975 $ 1,955.35
Receipts:
Tax Levy
Total to Account For
Disbursements:
Director's Expense Allowance
General Supplies
Shop Fund Distribution
Capital Outlay:
Emergency Unit Installation
Total Disbursements
Balance - December 31, 1975
$ 350.00
197.29
108.42
277.00
1,139.38
$ 3,094.73
932.71
$ 2,162.02
PARKS AND PLAYGROUNDS FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Actual
Balance - January 1, 1975 $ 804.25
Receipts:
Tax Levy
Insurance Refund
Pines Vista Estate Lot Sale
Total Receipts.
Transfer In
Total to Account For
$15,773.30
536.56
220.00
Disbursements:
Salaries $ 6,204.33
Contracted Service 762.10
Utilities and Supplies 1,173.78
Building and. Grounds Maintenance 608.67
Baldwin Lake Park Property Lease 1.00
Shop Fund Distribution 2,035.80
Capital Outlay:
Fences 2,276.66
Hockey Equipment 355.00
Lions Club Project
Total Disbursements
Schedule B -4
Budget
Estimate
$1,397.00
$1,397.00
$ 396.00
704.00
$1,100.00
Schedule B -5
Budget
Estimate
$16,767.00
100.00
16,529.86
8,007.00 8,007.00
$25,341.11 $24,874.00
13,417.34
Balance - December 31, 1975 $11,923.77
-25-
$ 5,000.00
1,000.00
800.00
600.00
1.00
14,750.00
1,200.00
$23,351.00
Schedule B -6
CITY OF LINO LAKES
Anoka County, Minnesota
ROAD AND BRIDGE FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Actual
Budget
Estimate
Balance - January 1, 1975 $(10,304.44)
Receipts:
Tax Levy $30,323.53
Local Government State Aid 30,000.00
Insurance Proceeds from Snow Plow
Accident 1,170.10
Material Sold 163.17
Total Receipts
Transfers In From Other Funds:
Revenue Sharing Fund
Total to Account For
Disbursements:
Salaries
Contracted Road Work
Street Lighting
General Supplies
Shop Fund Distribution
Capital Outlay:
Vehicle Emblems
Street Signs
Replacement Plow
Culvert
$12,447.60
41,047.95
2,859.40
456.76
7,372.88
80.91
264.11
2,425.00
125.40
$32,138.00
30,000.00
61,656.80
11,030.00 6,406.00
$ 62,382.36 $68,544.00
$17,180.00
39,000.00
2,500.00
10,000.00
Total Disbursements 67,080.01 $68,680.00
Balance - December 31, 1975 $ (4,697.65)
-26-
CITY OF LINO LAKES
Anoka County, Minnesota,
ROAD AND BRIDGE FUND
CONDENSED COMPARISON OF CASH RECEIPTS AND DISBURSEMENTS
For the Years Ended December 31, 1975 and 1974
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
Shop Fund Distribution
General Supplies
Street Lighting
Capital Outlay
Total Disbursements
Cash Balance - End of Year
Year
1975
Year
1974
Schedule B -6a
Increase
(Decrease)
$(10,304.44) $ 1,685.81 $(11,990.25)
$ 30,323.53 $ 47,358.87 $(17,035.34)
30,000.00 30,000.00
1,333.27 944.76 388.51
$ 61,656.80 $ 78,303.63 $(16,646.83)
11,030.00 18,000.00 (6,970.00)
$ 62,382.36 $ 97,989.44 $(35,607.08)
$ 12,447.60 $ 17,494.15 $ (5,046.55)
41,047.95 73,634.73 (32,586.78)
7,372.88 1,663.46 5,709.42
456.76 1,646.89 (1,190.13)
2,859.40 2,171.65 687.75
2,895.42 11,683.00 (8,787.58)
$ 67,080.01 $108,293.88 $(41,213.87)
$ (4,697.65) $(10,304.44) $ 5,606.79
Schedule B -7
CITY OF LINO LAKES
Anoka County, Minnesota
REVENUE SHARING FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Balance - January 1, 1975 $26,600.00
Receipts:
Federal Revenue Sharing 32,671.00
Total to Account For $59,271.00
Disbursements:
Tree Inspection $ 1,838.88
Publication 22.57
Total Disbursements
Transfers Out to Other Funds:
General Fund
Road Fund
Police Fund
Park Fund
Total Transfers Out
Total Deductions
Balance - December 31, 1975
$ 2,736.00
11,030.00
7,003.00
8,007.00
$ 1,861.45
$28,776.00
30,637.45
$28,633.55
*DEBT SERVICE NO. 1 FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Schedule B -8
Balance - January 1, 1975 $11,684.18
Receipts:
Tax Levy
17,555.91
Total to Account For $29,240.09
Disbursements:
Principal - Municipal Building Bonds
Interest - Municipal Building Bonds
Service Charge
Total Disbursements
$10,000.00
5,032.50
25.00
15,057.50
Balance - December 31, 1975 $14,182.$9
*For Municipal Building Bonds.
-28
Schedule B -9
CITY OF LINO LAKES
Anoka County, Minnesota
*SAC FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Balance - January 1, 1975 $ 297.00
Residential Building Permits - 20 @ $325.00
Less 1% Charge to General Fund
$ 6,500.00
65.00
6,435.00
Total to Account For $ 6,732.00
Disbursements:
Remittances to Metro Sewer Board
(1 @ $297.00; 20 @ $321.75)
Balance - December 31, 1975
METRO SEWER FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
6,732.00
$
-o-
Schedule B -10
Balance - January 1, 1975 $11,048.14
Receipts:
Tax Levy
Interest Earned
Total Receipts
Total to Account For
Disbursements
Balance - December 31, 1975
$ 56.58
593.91
650.49
$11,698.63
-0-
$11,698.63
CITY OF LINO LAKES
Anoka County, Minnesota
WATER AND SEWER OPERATING FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Actual
Balance - January 1, 1975 $ 4,485.37
Receipts:
Sale of Meters
Water Charges
Sewer Charges
Sewage Hauling Revenue
Deposits on Service
Sales Tax Collected
Total Receipts
$ 165.00
1,676.50
2,140.50
13,368.50
105.00
67.12
Schedule B -11
Budget
Estimate
17,522.62 $ 11,065.00
Total to Account For $22,007.99
Disbursements:
Salaries $ 4,663.83
Metro Sewer Charges 2,060.15
Repairs and Supplies 2,385.40
Sales Tax Payments 71.38
Refunds of Meter Deposit 35.00
Shop Fund Distribution 4,103.50
Total Disbursements
Balance - December 31, 1975
/'
*DEBT SERVICE NO. 2 FUND CASH RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
$ 4,325.00
2,325.00
13,319.26 $ 6,650.00
$ 8,688.73
Balance - January 1, 1975 $33,774.90
Receipts:
Tax Settlements * *Note $ (223.28)
Refund of Overpayment of Interest on
Bonds 454.54 •
Interest Earned 2,625.73
Total Receipts
Total to Account For
Disbursements:
Interest on G.O. Improvement Bonds $15,079.54
Service Charge 25.00
Total Disbursements
2,856.99
$36,631.89
15.104.54
Balance - December 31, 1975 $21,527.35
*For G. 0. Improvement Bonds of 1974
* *Note - Special Assessments received in 1975 from Anoka County
Special Assessments overpaid in 1974 from Anoka County
Net Special Assessments for the year 1975
Since Anoka County overpaid the City of Lino Lakes in 1974 on
special assessments, this amount was subtracted from the 1975
settlement.
-30-
Schedule B -12
$ 10,723.96
(10,947.24)
$ (223.28)
CITY OF LINO LAKES
Anoka County, Minnesota
SHOP FUND RECEIPTS AND DISBURSEMENTS
For the Year Ended December 31, 1975
Balance - January 1, 1975
Receipts:
Tax Levy
Actual
$
-o-
Schedule B -13
Budget
Estimate
1,949.96 $ 9,594.00
Total to Account For $ 1,949.96
Disbursements:
Salaries
Parts and Repair
Bulk Fuels
Oil and Anti Freeze
Supplies
Expense Distribution
$ 4,771.01-
6,673.36
11,859.19
217.78
1,034.12'
(22,605.50)
$ 7,000.00
9,000.00
Total Disbursements 1,949.96 $16,000.00
$
Balance - December 31, 1975
-o-
CITY OF LINO LAKES
Anoka County, Minnesota
ASSESSED VALUATIONS, TAX LEVIES AND TAX RATES
December 31, 1975
Year Assessed: 1975
Year Collectible: 1976
*ASSESSED VALUATIONS:
Real Estate
Personal Property
Totals
* *TAX LEVIES BY COUNTY AUDITOR:
Revenue
Road and Bridge
Shop
Fire
Police
Parks and Playgrounds
Civil Defense
Bonds
Totals
TAX LEVIES IN MILLS:
Revenue
Road and Bridge
Community Service
Parks and Playgrounds
Civil Defense
Bonds - Municipal Building
Totals
1974.
1975
Schedule 1
1973
1974
$9,306,089.00 $8,199,603.00 $7,397,943.00
858,882.00 858,882.00 626,338.00
$10,164,971.00 $9,058,485.00 $8,024,281.00
20,295.00 $ 13,310.00 $ 85,209.00
12,000.00 32,274.00
18,400.00 9,594.00
16,600.00 12,741.00
48,800.00 38,666.00
19,224.00 17,244.00 5,150.00
1,100.00 1,100.00 1,000.00
14,100.00 14,800.00 15,500.00
$ 150,519.00
* *14.81
II*1975 Valuations subject to be adjusted for fiscal disparities.
* *Levy as certified to County Auditor per Council resolution.
139,729.00 $ 106,859.00
1.46
3.54
6.70
1.89
.12
1.63
15.34
10.62
.64
.13
1.93
13.32
CITY OF LINO LAKES
Anoka County, Minnesota
INSURANCE AND BONDS IN FORCE
December 31, 1975
Company_ Policy No. Term Expires
Auto - Owners Insurance Company 08240541 3 Years 8/26/77
Auto - Owners Insurance Company 08165486 1 Year 8/26/76
Great Central Insurance Company C 61309
1 Year 3/31/76
Auto - Owners Insurance Company 687006-
08607306 3 Years 2/14/77
Auto - Owners Insurance Company 08610008 1 Year 2/14/76
Auto - Owners Insurance Company 08607943 1 Year 3/13/76
Maryland Casualty Company 94- 229271 7 Years 9/30/79
Amount Coverage Premium
Multi -Peril Policy: Annual
*Fire and Extended Coverage — Building and
Contents
$238,946.00 90% Co- Insurance Clause
Comprehensive Liability:
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) - Collision - $100 Deductible
100 /300M - Uninsured Motorist
100 /300 /10M - Non - Ownership
Statutory
$ 10,000.00
$ 30,000.00
500.00
2,000.00
$1,937.00
$2,232.52.
Workmen's Compensation $1,614.00
Bonds:
Blanket Position Bond - All Employees $ 459.00
Clerk - Treasurer - Edna Sarner
Assessor's Bond - Edna Sarner
Notary Bond - Edna Sarner
$ 282.00
18.50
10.00
*Statement of values filed with State but copy was not available for our inspection.