CCP 05-10-1999 - Laserfiche WebLink

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. . . City of Arden Hills April 8, 1999 Page Five 1998 Expenditures Public Safety 35.60% General Government 22,57% ubHc Works 14.71% Capital outlay 6.76% Transfers out 11.20% Culture and recreation 9.16% Special Revenue Funds Community Services This fund balance decreased $12,629 and was $239,189 at year end. This fund will provide for various needs in the community as determined by the Council. Recreation Fund The activities of this fund were reclassified from the General fund in 1998. The expenditures were in excess of revenue by $55,889. A transfer of$54,800 was needed to show the operations near break even. Park Fund This fund had revenue of$42,536 and expenditures of$43,182. The result was an decrease in fund balance of $646 to end at $467,434. This fund is used to finance park improvements. Cable TV Fund The fund balance increased $29,154 and was $219,251 at year end. The fund balance is expected to be used for cable equipment at a new city hall. Insurance Deductible This fund exists to pay deductible costs on insurance claims. The revenue will come from insurance dividends received from the League of Minnesota Cities Insurance Trust. The year end fund balance was $9t,956 which was an increase of $34,607 from the prior year. Economic Development Authority The Economic Development Authority had activity for the first time in 1997 and will account for tax increments and projects within the TlF district. The Development/Redevelopment TlF Capital Projects Fund was closed into this fund in 1997. The Cardiac Pacemakers, Inc. loan of $593,789 is also recorded here and will be written off as the terms of the loan are met. Bond proceeds of $2,826,8 14 were received in 1998 to finance improvements wilhin the TIF district.