CCP 05-30-2000 - Laserfiche WebLink

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. . . City of Arden Hills March 31, 2000 Page Five 1999 Expenditures Public Safety 36.23% General Government 21.76% Public Works 8.59% Transfers out 21.38% Special Revenue Funds Community Services This fund balance increased $10,965 and was $250,154 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 $51,774. A transfer of $50,000 was needed to return the operations to near break even. A deficit of $2,531 exists at year end. Park Fund This fund had revenue of$48,093 and expenditures of$52,535. The result was an decrease in fund balance of $4,442 to end at $462,992. This fund is used to fmance park improvements. Cable TV Fund The fund balance increased $40,334 and was $259,585 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 corne from insurance dividends received from the League of Minnesota Cities Insurance Trust. The year end fund balance was $122,935 which was an increase of$30,979 from the prior year. Economic Development Authority The Econontic Development Authority had activity for the fIrst time in 1997 and will account for tax increments and projects within the TIP district. The Development/Redevelopment TIF Capital Projects Fund was closed into this fund in 1997. The Cardiac Pacemakers, Inc. loan of$593,789 is also recorded here and the forgivable portion of the loan will be written off as the terms of the loan are met. Bond proceeds of$2,826,814 were received in 1998 to fmance improvements within the TIP district. The fund balance was a deficit of$984,858 at year end. DRAFT