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.ote3: . . CITY OF ARDEN HILLS, MINNESOTA NOTES TO TIlE FINANCIAL STATEMENTS DECEMBER 31 DETAILED NOTES ON ALL FllNDS - CONTTh'UED Construction COmmitments.. . DJ As of December 31, 2005, the Clty has slgned contracts m p ceor s summarizes those comrnitments: I FT ", : ~.,~ .... . etmn proJects. 'fire ollowmg - . ...... . I Project Spent to date Remaining Comminnent 2005 PMP project (Red Fox/Grey Fox) $ 1,553,565 $ 30,790 D. Interfund Receivables, Payables and Transfers The Economic Development Authority fund had a loan from the Permanent Improvement Revolving fund which was paid off in 2005. Interfund transfers Transfer in Tax Increment Permanent Nonmajor General Bonds Improvement governmental Fund Fund of 1998A Revolving Funds Tota] Transfer out Economic Development A uthori ty $ $ 286,376 $ $ $ 286,376 Nonmajor governmental 28,335 1,751,368 18,890 ],798,593 Tota] $ 28.335 $ 286.376 $ 1,751,368 $ 18.890 $ 2,084,969 Transfers were made for the following purposes: o The Economic Deve]opment Authority fund transferred $286)76 to the Tax Increment Bonds of 1998A fund for its share of debt expenditures. . The Comrnurrity Service fimd transferred $28,335 to the General fund to cover culttue and recreation expenditures. o The Community Service fund transferred $18,890 to the Puhlic Safety Capital Equipment fund for future public safety capita] expenditure. o The Non.assessable Road Improvemcnts fund trausferred $1,582,151 to close the fund into tbe Pennanent Improvement Revolving fund. o The Capital Equipment fund transferred $152,385 to close the fund into the Permanent Improvement Revolving fund. o The Municipal Laud and Buildings fund transferred $16,832 to close the fund into the Permanent Improvement Revolving fund. .34-