CCP 01-10-2000 - Laserfiche WebLink

Home Browse Search

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