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<br /> ARDEN HILLS TRUTH-IN-T AXA nON - DECEMBER 6, 1999 6
<br /> . With regard to the revenue categories for the 2000 General Fund, Mr. Post stated that the
<br /> significant change occurred in Other Financing Sources, He indicated that the increase of
<br /> $273,200 was a transfer primarily from the PIR Fund,
<br /> Mr. Wilson asked what the acronym PIR stood for. Mr, Post stated that PIR was a Capital Fund
<br /> entitled Permanent Improvement Revolving Fund, He indicated that this fund was where most of
<br /> the City's Capital projects initiate. Mr. Wilson asked if the expenditures for the new City Hall
<br /> would come from tile PIR fund, Mr. Post stated that the construction of the new City Hall
<br /> would be funded by the Municipal Land and Buildings Fund #408.
<br /> Slide #12, Proposed Capital Budget Summary, explained thc General Fund Capital items which
<br /> are funded by the 2000 property tax dollars. The projected cost of $2,750,000 to construct the
<br /> new City Hall was included under the Capital Municipal Buildings Fund #408, The Public
<br /> Works Equipment Project #306 included the replacement of a backhoe at a projected cost of
<br /> $90,000, The Public Works Projects Project #402 included a planned street project in 2000
<br /> totaling $2,243,200, The cost for this project will be split between the General Fund, the Capital
<br /> Fund and Enterprise Funds,
<br /> Additional significant Capital projects proposed for the year 2000 were the completion ofthe
<br /> residential water meter replacement program at a cost of $450,000, and sewer line rehabilitation
<br /> at a cost of$200,000. Overall, the proposed 2000 total City Capital Budget was $6,178,865,
<br /> This figure was lower than the previous year because the City Hall project was included in the
<br /> . 1999 budget, and the 1999 budget had included a large amount of EDA expenditures for the
<br /> West Round Lake Road/Highway 96 intersection Phase I project not found in the 2000 budget
<br /> Slide #13, Summary Comparison of All Funds Expenditures/Transfers Out, reviewed the
<br /> proposed 2000 expenditures for the General Flmd as well as the other funds under which the City
<br /> operates. The slide presented historical information from the year 1995 through to the proposed
<br /> expenditures for 2000. The TCAAP Reuse Planning Fund #229 within the Special Revenue
<br /> category had budgeted $419,070 in 1999 of which no funds were expended. The City had
<br /> anticipated the implementation of a planned study of the TCAAP site which had not occurred,
<br /> This planned study was not included in the proposed 2000 budget
<br /> With regard to the Round Lake Office Fund #704, the work has essentially been completed
<br /> within this district and what remained in this fund category was debt service payments, both
<br /> internal and to a bond fund, Under the Debt Service Funds, the $136,998 proposed for the 2000
<br /> budgct represented interest payment on the GO Tax Increment Bond issued in 1998.
<br /> Additionally, the 2000 budget proposed a transfer 01'$1,150,00 from the Debt Service Fund
<br /> #315, These funds were being transferred to the Municipal Land and Building Fund #408 as part
<br /> of the financing of the new City Hall facility,
<br /> Councilmember Larson noted that the City had budgeted $2,050,000 in 1999 for the City Hall
<br /> project and was now proposing $2,800,000 for the 2000 budget He asked why there was such a
<br /> . difference between the amount budgeted for the City Hall in 1999 comparcd to the amount
<br /> proposed for 2000, Mr. Post explained that the City had anticipated the construction of the new
<br /> City Hall to be a two-year project, with construction beginning in the fall of 1999 and completing
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