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CITY OF ARDEN HILLS <br /> • MEMORANDUM <br /> DATE: July 23 , 1991 <br /> TO: Mayor and City Council <br /> FROM: John T. Buckley, Parks Director <br /> SUBJECT: Long Range Park Fund Plan <br /> ---------------------------------------------------------------- <br /> ---------------------------------------------------------------- <br /> The Park Fund is a special Fund established by the City Council <br /> in the early 1970 ' s. Revenue for this Park Fund comes from park <br /> dedication fees, interest earned from park fund, gifts/ <br /> contributions, and charitable gambling proceeds. Expenses for <br /> park and trail acquisition and development are charged to this <br /> Fund. <br /> Over $1, 200, 000 in money, park land, and trails have been <br /> received from the revenue resources. The City of Arden Hills <br /> has been able to acquire and develop a park system containing 11 <br /> neighborhood parks, two nature preserves, and a City-wide <br /> • pedestrian trail system and maintain a balance of $518 , 127 as of <br /> December 31, 1990. The management of the Parks Fund will be <br /> critical to the City' s financing future park and trail <br /> improvements. <br /> TJ Swanson has programmed several Park Fund financial models to <br /> consider for long term management. The models have five <br /> components: <br /> Revenue - A. Park dedication receipts. <br /> B. Interest income. <br /> C. Gifts/contributions. <br /> D. Transfer from General Fund. <br /> Expense - E. Yearly expenditure for park maintenance and <br /> improvements. <br /> • <br />