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Special Revenue Funds <br />Special revenue funds are used to account for revenue derived from specific taxes or other earmarked revenue sources.They are <br />usually required by statute or local ordinance to finance particular functions or activities of government.A summary of year end <br />fund balances for all special revenue funds follows: <br />Fund Balances <br />December 31, <br />Increase <br />Fund <br />20132012(Decrease) <br />Nonmajor <br />Cable T.V.$15,061$20,126$(5,065) <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 for all capital projects funds follows: <br />Fund Balances <br />December 31, <br />Increase <br />Fund <br />20132012(Decrease) <br />Major <br />Park$(1,086,915)$(1,070,527)$(16,388) <br />2013 Street Project237,170-237,170 <br />Nonmajor <br />Revolving Street 350,646187,850162,796 <br />Pedestrian Trail Ways15,622(2,763)18,385 <br />Capital Equipment Revolving43,303-43,303 <br />Total$(440,174)$(885,440)$445,266 <br />The City shouldcontinue toannuallyevaluate the status of each project to determine if the fund should be closed or if additional <br />funding 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 $1,086,915is due to a <br />transfer out of $825,000 in 2011 to the Pedestrian Trail Ways tofundthe project plan.The increase in the 2013 Street project <br />fund is due to bond proceeds and other activity remaining for the completion of the project. The Revolving Street fund increased <br />mainlydue to a transfer from the General fund. A transfer of $43,303 from the General fund was used to establish a new Capital <br />Equipment Revolving fund. <br /> <br />