CCP 06-08-1998 - Laserfiche WebLink

Home Browse Search

m City of Arden Hills k~Z~ May ]4,1998 . j~~~ Page Six Debt Service Funds The fInal payment of the G.O, Improvement Bonds of 1977 which were refunded in 1985 were fully paid by the escrow in 1997. This allows the remaining $1,016,107 fund balance to be used for any public purpose. Capital Projects Funds Municipal Land and Buildings This fund will be used to improve existing City buildings or provide for new buildings. The fund balance increased $322,907 due mainly to a transfer of$300,000 from the general fund. The ending fund balance was $971,904. Non-Assessable Road Improvements The fund balance of $1,197,366 at year end exists for the completion of future county road projects such as County Road I, Highway 96 and County Road D. Capital Eauipment Sinking Its purpose will be to accumulate resources to finance major equipment purchases. The activity was a transfer in of $28,500 and interest of $6,724. The fund balance at December 31 was $127,850. Fire Equioment Sinkinf! . The fund balance of$153,392 will be used for equipment replacement. Permanent Improvement Revolving (PIR) Fund The fund balance at year end was $4,910,284, of which $485,000 represents the amoupt of the unpaid advance to the Economic Development Authority. Interest for 1997 was $250,612. DeveloP/Redevelop TlF The activity of this fund was moved to the Economic Development Authority fund. Water and Sewer Enterorise Funds A further detailed comparison of operations both graphically and as a table are as follows: Year ended December 31. Water Fund 1994 1995 1996 1997 Charges for services and other revenue $ 876,828 $ 1,039,193 $ 1,097,037 $ 999,386 Operating expenses before depreciation on contributed property 647.168 757.496 845,090 845,992 Income from operations $ 229.660 $ 281.697 $ 251.947 $ 153,394 Transfer standby charges to the PIR Fund $ 71.324 $ 72.180 $ 72.699 $ 72.598 . - ...