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City of Centerville <br />March 24, 2011 <br />Page 10 <br />Special Revenue Funds <br />Special revenue funds are used to account for revenue derived from specific taxes or other earmarked revenue sources.They <br />are usually required by statute or local ordinance to finance particular functions or activities of government.A summary of <br />year end fund balances for all special revenue funds follows: <br />Fund Balances <br />December 31, <br />Increase <br />Fund <br />20102009(Decrease) <br />Nonmajor <br />Cable T.V.$24,662$20,856$3,806 <br />Capital Projects Funds <br />The capital projects funds are used to account for the acquisition and construction of major capital facilities other than those <br />financed by enterprise funds.A summary of year end fund balances (deficits) for all capital projects funds follows: <br />Fund Balances (Deficits) <br />December 31, <br />Increase <br />Fund <br />20102009(Decrease) <br />Major <br />2009 Street & Utility Improvements$47,918$759,316$(711,398) <br />Park(1,071,510)(242,837)(828,673) <br />Nonmajor <br />Pedestrian Trail Ways545,086(225,673)770,759 <br />2006 Municipal Improvements-21,424(21,424) <br />2007 CSAH 14 Improvements-353,573(353,573) <br />2007 Development-41,880(41,880) <br />2007 Downtown Redevelopment125,716133,523(7,807) <br />CDBG Water Services(5,400)-(5,400) <br />Total$(358,190)$841,206$(1,199,396) <br />The City should annually evaluate the status of each project to determine if the fund should be closed or if additional funding <br />sources will be needed for deficits.Each deficit indicates a funding shortfall and all will eventually need to be eliminated <br />eitherby future charges or by transfers from other funds. The deficit fund balance in the Park fund of $1,071,510 in mostly <br />due to a transfer out of $825,000 to the Pedestrian Trial Ways fund for the funding project plan and loan between funds. <br /> <br />