CCP 05-27-1997 - Laserfiche WebLink

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I I AffX) City of Arden Hills ~ April 10, 1997 I- Page Five QIIT1FIED PuRLIC AOX"llJNTA~TS AND OW.';;!')lT."'''TS I ClIPital Proiects Funds Municipal Land and Buildini I No expenditures occUlTed in this fund during 1996. Interest and a transfer increased the fund balance to $649,000 at December 31. This fund will be used to improve existing City buildings or provide for new buildings. I Non-Asses.<;ahle Ro~n Imnrovements I The fund balance of $1,130,281 at year end exists for the completion of future road projects such as County Road I, Highway 96 and County Road D. Canit~ Equipment Sinkinr I Its purpose will be to accumulate resources to fmance major equipment purchases. The activity was a transfer in of $62,000 and interest of $1,888. The fund balance at December 31 was $92,626. I Fire Equinrnent Sinkin~ The fund balance of $99,208 will be used for equipment replacement Ie Pennanent ImD\'Ovement Revolvini (l'}R) Fund The fund balance at year end was $4,492,778, of which $325,000 represents the amount of the unpaid advance I for the Kern Milling TIF project. Interest for 1996 was $243,214. DevelonlRedeveloJ) TIF I The advance from the PIR Fund was reduced $43,000 to $325,000 at year end. Tax increments, as collected, will be applied to the balance due to the PIR Fund. It is not clear whether tax increment collections in the future will be sufficient to repay the entire PIR advance. I Water and Sewer Entetprise Funds A further detailed comparison of operations both graphically and as a table are as follows: I Year ~mlM December 31 1993 1994 1995 1996 Water Fund I Charges for services and other revenue $ 169 882 $ 816 828 $ I 039 193 $ I 091 031 Operating expenses before depreciation on contributed property 598454 641168 151496 845 090 I Income from operations $ 111 428 $ 229 660 $ 281 697 $ 251947 Transfer standby charges to the PIR Fund $ 71 040 $ 71 324 $ 72 180 $ 72 699 I Ie I --