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CITY OF RAMSEY, <br />NOTES TO FINANCIAL <br />December 31, <br />Note 16. COMMITMENTS AND CONTINGENCIES <br />MINNESOTA <br />STATEMENTS <br />1992 <br />At the present time, there is no significant litigation pending which is <br />not covered by the City's insurance. <br />Amounts recorded or receivable from federal and state agencies are subject <br />to agency audit and adjustment. Any disallowed claims, including amounts <br />already collected, may constitute a liability of the applicable funds. The <br />amount, if any, of claims which may be disallowed by the grantor agencies <br />cannot be determined at this time although the City expects such amounts, <br />if any, to be immaterial. <br />During the year, the City contracted for several capital projects. At <br />year -end, the total unearned construction contracts totaled approximately <br />$107,098. <br />