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equipment and usage by department—a more clear picture of this fund will be seen in fall <br /> after we have completed the operating budgets. <br /> The EDA Operating fund receives excess increment from the County as a result of the <br /> Round Lake TIF District. This will discontinue in 2015 when the district decertifies. In <br /> 2011, a tax petition on some properties in the district was settled and the amount of TIF <br /> received was reduced as well as the excess TIF received. I will have a better picture of <br /> these numbers once I receive the first tax settlement from the county for 2012 which will <br /> come in July. Both of these funds will have better estimates later in the year, although an <br /> ongoing funding source for EDA revenues will be another discussion that staff will have <br /> with the Council at a later date. <br /> The water and sewer funds are cash flowing as expected with the 2008 rate study that was <br /> implemented in 2009. You can see this by looking at the cash balances in this report. <br /> The low points in 2014 (Sewer) and 2015 (Water) were expected and were the basis for <br /> the increase in rates when we choose to implement these rates. Surface Water <br /> Management needs to be looked at, as we have continuing deficits in this fund starting in <br /> 2013. Finance is working on a rate study with the assistance of FPAC and will bring this <br /> forward to the City Council for discussion at a later date. <br /> Staff will have a discussion with Council at the July worksession on the attached report. <br /> Please remember that these are very preliminary estimates as we just finished the audit <br /> and financial reports and are just starting the 2013 budgeting process which leads to the <br /> long-term financial plan. <br /> I have attached some graphs on the actual historical fund balances of the General Fund, <br /> PIR Fund, and the utility funds from 2006—2011. The two spikes you see in the General <br /> Fund are the year we settled mediation on City Hall and 2011 with the Presbyterian <br /> Homes conduit debt and Pulte and Presbyterian Homes permit activity. The utility fund <br /> balances have been recovering since we implemented the 2008 rate study. <br /> If you have any questions,please feel free to call me and discuss them. <br /> City Council Meeting <br /> P:\Finance\Finance Director\2013 Budget\CIP\2013 CIP Preliminary-Follow-up Memo.docx <br /> Page 2 of 2 <br />