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05-31-05
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05-31-05
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<br />CITY OF ARDEN IDLLS, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2004 <br /> <br />Note3: DETAILED NOTES ON ALL FUNDS - CONTINUED <br /> <br />D. Tax Increment Districts <br /> <br />The City is the administering authority for the following tax increment finance districts: <br /> <br /> Tax Tax <br /> Increment Increment <br /> District No, 2 District No, 3 <br /> Authorizing law M.S. 469 M,S, 469 <br /> Type of district Redcvelopment Housing <br /> Year established 1989 1993 <br /> Duration of district 25 years 15 years <br /> Tax capacity <br /> Original $ 25,135 $ 1,758 <br /> Current 425,847 43,529 <br /> Captured - retained $ 400,712 $ 41.771 <br /> Total General Obligation Tax Increment <br /> Bonds and Notes issued $ 5,495,000 $ <br /> Amounts redeemed 555,000 <br /> Outstanding at December 31, 2004 $ 4,940,000 $ <br />E. Fund Balance ReserveslDesignations <br /> <br />The City bas the following reservations and designatious of fimd balance: <br /> <br />Fund <br />Fuud balauce - Reserved <br />Geuera1 <br /> <br />Purpose <br /> <br /> Aroount <br />$ 23,573 <br /> 93,157 <br /> 2,373,789 <br /> 838,955 <br />$ 3,329,474 <br />$ 1,198,199 <br /> <br />Prcpaid items <br />Compensatcd absences <br />Debt service <br />EDA loan <br /> <br />Debt Service <br />Permanent Improvement Revolving <br /> <br />Total reserved fimd balance <br /> <br />Fund balance - Unreserved - Designated <br />General <br /> <br />W orldng capital <br /> <br />-30- <br /> <br />n <br /> <br />. <br />[] <br /> <br />fJ <br />n <br />u <br /> <br />[] <br />[] <br /> <br />[] <br />~ <br /> <br />n <br />u <br /> <br />[I <br />U <br />U <br />[I <br />1 <br /> <br />, T <br />li <br /> <br />, , <br />i <br /> <br />-: <br /> <br />, <br />i <br />li <br />
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