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CCP 05-15-2006
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CCP 05-15-2006
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11/15/2006 10:10:06 AM
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<br />. <br /> <br /> <br />City of Arden Hins <br />April 14, 2006 <br />Page Thirteen <br /> <br />Capital Projects Funds <br /> <br />These funds accumulate resources to finance major capital acquisition and construction projects, A recap of each fund and <br />fund balances follows: <br /> <br /> Fund Balances <br /> December 31, Increase <br /> Fund 2005 2004 (Decrease) <br /> Major <br /> Permanent Improvement Revolving $ 6,213,340 $ 4,798,560 $ 1,414,780 <br /> Nonmajor <br /> 1\:1unicipal Land and Buildings 16,945 (16,945) <br /> Non-Assessable Road Improvements 1,557,065 ( 1,557,065) <br /> Capital Equipment 148,206 ( 148,206) <br /> Publi\.: Safety Capital Equipment 521,370 500,260 21,110 <br /> TOlal nonmajor 521,370 2,222,476 (1,701,106) <br />. Total $ 6,734,710 $ 7,021,036 $ (286,326) <br /> <br />As projects afe completed, the City should transfer the remaining resources to the original funding source or to the <br />Pcnnancnt Improvement Revolving (PIR) fund. The City chose to close the funds with a zero fund balance to the PIR fund <br />at year end. <br /> <br />Permanent Improvement Revolving (PIR) Fund <br /> <br />The fund balance at year end was $6,213,340, of which - represents the amount of the unpaid advance to the Economic <br />Development Authority related to the acquisitions of the Indy Kiewicz property. This entire advance is expected to be <br />repaid to the PIR Fund from Ramsey County reimbursement and remnant parcel sale proceeds. Interest income from the <br />loan for 2005 was $4] ,880, <br /> <br />Municipal Land and Buildings <br /> <br />This fund was closed at year end and its remaining resources were transfcTIcd to the PIR fund. <br /> <br />Non-Assessable Road Improvements <br /> <br />This fund was closed at year end and its remaining resources were transfe1Ted to the FIR fund. <br /> <br />Capital Equipment <br /> <br />This fund was closed at year end and its remaining resources were transferred to the PIR fund. <br /> <br />Public Safely Capital Equipment <br /> <br />. <br /> <br />The fund balance will be used for equipment replacement. <br /> <br />%2.8:l;1.9090 ~ Fax 952.8.,}5.:)261 <br /> <br />www.alCmCI)a~.(~0111 <br />
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