CCP 05-28-1996 - Laserfiche WebLink

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I I City of Arden Hills AIDJ April 12, 1996 ~ Page Six I . CCRTIFJal PUflLlC At :n.llJ~TANTS AN!l Q,NSLUAKTS I Caoital Pro-;ects Funds Municipal Land and Buildina I No expenditures occurred in this fund during 2995. Interest and a transfer in increased the fund balance to $247,710 at December 31, This fund will be used to improve existing City buildings or provide for new buildings. I Lexinqton Avenue The fund balance of $103,353 at year end remains for the completion of the I County Road I portion of the project. Caoital Equipment Sinkina I This fund is new during the year. Its purpose will be to accumulate resources to finance major equipment purchases. The activity was a transfer in of $28,500 and interest of $238. The fund balance at December 31 was $28,738. I Fire Eauipment Sinkina This fund is also new in 1995. Its fund balance of $47,899 will be used I . for equipment replacement. Permanent Imorovement Revolvinq (PIR) Fund I The fund balance at year end was $4,218,525 of which $368,000 represents the amount of the unpaid advance for the Kern Milling TIF project. I DeveloD/RedeveloD TIF The advance from the PIR Fund was reduced $32,782 to $368,000 at year end. Tax increments, as collected, will be applied to the balance due to the PIR I Fund. It is not clear whether tax increment collections in the future will be sufficient to repay the entire PIR advance. Water and Sewer Enterprise Funds I A comparison of operations with graphs follows: Year Ended December 31, I Water Fund 1995 1994 1993 1992 Charges for services and other revenues $1 039 193 $876 828 $769 882 $669 569 I Operating expenses before depreciation on contributed property 757 496 647 168 598 454 578 843 I Income from operations $ 281 697 $229 660 $171 428 $ 90 726 Transfer standby charges to I . the PIR Fund $ 72 180 $ 71 324 $ 71 040 $ 70 678 I