CCP 05-15-2006 - Laserfiche WebLink

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