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. . . City of Arden Hills March 31, 2000 Page Six Debt Service Funds The fmal 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 $1,192,544 fund balance to be used for any public purpose. The Tax Increment Bonds of 1998 were issued in 1998. The debt service on the $3,100,000 obligation will be recorded in this fund. Tax increment collections will provide the resources to pay the bonds. 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 $268,998. The ending fund balance was $1,342,520. Non-Assessable Road Improvements The fund balance of $1 ,324,805 at year end exists for the completion of future county road projects such as County Road I, Highway 96 and County Road D. Capital Equipment Sinking Its purpose will be to accumulate resources to fmance major equipment purchases. The activity in 1999 was interest of$6,446. The fund balance at December 31,1999 was $142,382. Fire Equipment Sinking The fund balance of $274,530 will be used for equipment replacement. Permanent Improvement Revolving (pm) Fund The fund balance at year end was $6,137,285, of which $1,065,000 represents the amount of the unpaid advance to the Econontic Development Authority. Interest income for 1999 was $193,856. Water and Sewer Enterprise Funds A further detailed comparison of operations both as a table and graphically as follows: Year ended December 31. Water Fund 1996 1997 1998 1999 Charges for services and other revenue $1,096,037 $ 999,386 $ 1,043,989 $ 1,058,483 Operating expenses before depreciation on contributed property 845.090 845.992 901.872 943.248 Income from operations $ 250947 $ ] 53 394 $ 142 117 $ 115235 Transfer standby charges to the PIR Fund $ 72 699 $ 72 598 $ 74122 $ 78 528 Cash balance $ 653 897 ~ 797041 $ 1.01] 084 $ I 167.755 f::,'~:T .~,!,; ,