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<br />. <br /> <br />. <br /> <br />e <br /> <br />City of Arden Hills <br />Description of Funds <br />Jnne 15, 2004 <br /> <br />General Fund <br /> <br />The general fund is the City's primary operating fund. This fund is used to account for <br />resources traditionally associated with government, which are not required legally or by <br />sound principal management to be accounted for in another fund. In order to breakdown <br />down costs or identify costs by various functions, the City has established thirteen <br />departments/programs under this fund. This is the fund where all tax levy funds are <br />receipted. Since taxes are received twice a year, a reasonable balance is required for cash <br />flow purposes. A strong fund balance helps the City in maintaining and improving its <br />bond rating. <br /> <br />Special Revenue Funds <br /> <br />I. Commu'!ity Service Fund. This is the fund where charitable gambling funds are <br />receipted. Revenue from this fund is directed to the Recreation Program and <br />Public Safety Capital fund. <br />2. Park Fund. This fund is used to finance and plan future park capital <br />improvements. <br />3. Cable Television. Funds from the Cable Franchise fees are receipted in this fund. <br />The funds are used for cable/audio equipment and programming activities at the <br />City Hall. <br />4. TCMP Fund. The Council established this fund in 1994 for TCAAP planning <br />purposes. Generally, this fund balance has accumulated via the dedication of <br />portions of year end surpluses ofthe general fund. <br />5. Risk Management. This fund exists to pay deductible costs on insurance claims. <br />The revenue comes from insurance dividends received from the League of <br />Minnesota Cities Insurance Trust. These funds are dedicated to reducing the <br />City's insurance and liability insurance premiums by allowing for a higher <br />deductible financed out of this fund. <br />6. EDA Funds. The Economic Development Authority has activity for the first time <br />in 1997 and accounts for tax increments and projects within the TIP districts. <br /> <br />Debt Service Funds <br /> <br />This is the fund from where the debt service payments are made. Currently, there is one <br />outstanding GO Tax Increment Bond. <br />