Laserfiche WebLink
charitable �a�alblin�; Street projects ec�ui�ment �urelaases and renovations a�re pra�rramtned into <br />the C'it �'� s Capit�l ti��prc�veme��t Plan �iiid are e� nerall�planned vears in advar�ce. <br />'l he City «�i11 strive to mavitaiii fund balances u1 the Ec�uiUment Buildiu� & R�place7ilent <br />F,7nd Public S�afetv Ca��ital F►,md Parks I'und and tlie Perminent Rev�lvin� Im�rovement Fund <br />i�i an am�unt sufC�cient t� str�art the on oin� ca�ital expendii:ures ��latrned. in the C[P and in <br />c��nRruence with the Lon� Ran�e Financial Mana�ement Plan. Reve�mes n�t le�,ally restricted <br />will be assi i� led. <br />8 Enter�rise Funds were c- stablisl�ed to account for the o�eration of Wa.ter Sanitary Sewer, <br />Recyclii�� and Surtace Water 1Vlana�crnent 'I'hese o�erations are desi�rned to be self-su�nortin� <br />fiom user cha�,cs. <br />City enterprise funds shall have operating cash reserves sufficient to provide for monthly <br />cash flow, and for a reasonable level of equipment and infrastructure replacement. Major <br />reconstruction or system upgrades, may need to be funded from enterprise revenue bonds. <br />Annual utility rate reviews will be made in regard to projected operating expenses and capital <br />improvements. The Council will, on an annual basis, establish rates in accordance to operating <br />cost recovery and the projected capital improvement. <br />9 Internal Seivice Funds were established to accaunt for�eraticzn� which are desi�ned to be se.l.f <br />su:�ortin� from "internal" user c.har�es. <br />a. Risk Mana�euient I'unci <br />"I'his fund �vas es#ablished to pool dividerids received the Cit�'s insurance providers for <br />t�ositive claims ea�erience This funds ir�cks dividend revenues and ded.uctible costs f�r <br />claims The gc�al of'this fund is tc� huild a C�ind balance thai ��ould allow tl�e Citv to increase <br />deductible limits in order to reduce �rerniu�n costs. Dividenc�s f�-om the �;ity's health. <br />insurance provider are also used to_provide wellness�rograms T'unds received from tl7e <br />L ea�,ue of Minnes�ta Cities In�;ura��ce Trust at•e committed while funds received from the <br />City's health insurance cari•ier arc assi >>� ied• <br />b, En�ineerin�; <br />T1�i5 fund is used to account fc�r the pravision of en 7in�_ee�•in,� set�vices �:o develo�ment <br />t�rojects infrastruc.ture p��ojects and the CitX i►� �.7eneral This fuild is financed predoix�inantly <br />tlu�oiigh user ch�r�es bc�tl� internallv aud externallv to developers and is noz•naally n.ot <br />expected to cariy a fund balance at year-end. <br />c. Central Gal�age a�id Ec�uipmellt <br />� This f'und i� used t� account for the ma:terials, su��lies and ex��enses of the Central <br />Ciarage �nd equiprnent of Pu�lic Wo��lcs whiclz is coir►prised of the followin�; departments; <br />Streetti ParkS Water Sanitary Sewer aud Surface Waier Management. This fund is financed <br />predc�minantiv thrau�li t�ser charge5 internal{y ta the pul�lic w�rks dep�rtments. rund. <br />balance is assi�;ne�1 for the �urchase, replacement and i•epair of e uipment and vehicles used <br />by public works. <br />�I 0. Fund balances will be c�e��-i�-assigned. according to the above guidelines up to the <br />amount available after restrictions and other �' �� �'�m�coinmitments. This policy is not <br />intended to require the reporting of deiicit •n ��_'._���:o�:rt;*G:' ui�assi si� ieci fund balances. <br />P•\F`inanec\I't�licies anc� 1'rocedures�I'olicies\Fur� Balai�ce P�licv-2011.dacl':`�';N^„^^"'�';,,;"" <br />r.. ,,,..;ri+�,a � i i7 ni�n7 �'�� � nr�rAdo'pted 11/28/2011 <br />, , �._,r..�..... <br />