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City of Arden Hills <br /> April 14,2001 <br /> MOA <br /> Page Six <br /> Special Revenue Funds <br /> A summary of all special revenue funds and their December 31,2000 fund balances compared with the prior year <br /> follows: <br /> Fund Balance Increase <br /> 12/31/00 12/31/99 (Decrease) <br /> Community Service $ 102,265 $ 250,154 $ (147,889) <br /> Recreation Program (4,997) (2,531) (2,466) <br /> Park 551,276 462,992 88,284 <br /> Cable TV 158,346 259,585 (101,239) <br /> TCAAP 220,104 205,326 14,778 <br /> Insurance Deductible 150,049 122,935 27,114 <br /> Economic Development Authority (878,766) (984,858) 106,092 <br /> Total $ 298.2773= 1� L_Ll-5,J& <br /> Community Service <br /> This fund will provide for various parks,recreation and public safety needs in the community as determined by the <br /> Council and permitted by statute. <br /> Recreation Program <br /> The summer playground activities of this fund were reclassified from the General fund in 1998. The expenditures <br /> were in excess of revenue by$2,466. A transfer of$78,000 was needed to return the operations to near break even. <br /> A deficit of$4,997 exists at year end. <br /> Park <br /> This fund is used to finance and plan future new park capital improvements. <br /> Cable TV <br /> The fund balance is expected to be used for cable equipment and programming activities at the new city hall. <br /> TCAAP <br /> The fund balance is expected to be used for future development implementation planning activities. <br /> Insurance Deductible <br /> This fund exists to pay deductible costs on insurance claims. The revenue will come from insurance dividends <br /> received from the League of Minnesota Cities Insurance Trust. <br /> Economic Development Authority <br /> The Economic Development Authority had activity for the first time in 1997 and will account for tax increments <br /> and projects within the TIF districts. The Development/Redevelopment TIF Capital Projects Fund was closed into <br /> this fund in 1997. The Guidant loan is also recorded here and the forgivable portion of the loan will be written off <br /> as the terms of the loan are met. The remaining balance is$205,194. <br /> Debt Service Funds <br /> The final payment of the G.O. Improvement Bonds of 1977,which were refunded in 1985,were fully paid by the escrow <br /> • in 1997. This allows the remaining$117,272 fund balance to be used for any public purpose. <br /> The Tax Increment Bonds of 1998 were issued in 1998. The debt service on the$3,100,000 obligation will be recorded <br /> in this fund. Tax increment collections will provide the resources to pay the bonds. <br />