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Special Revenue Funds <br /> <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 /> <br />Fund Balances <br />December 31, <br />Increase <br />Fund <br />20142013(Decrease) <br />Nonmajor <br />Cable T.V.$ 20,403 $ 15,061 $ 5,342 <br />Capital Projects Funds <br /> <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 /> <br />Fund Balances <br />December 31, <br />Increase <br />Fund <br />20142013(Decrease) <br />Major <br />Park$ (1,103,264) $ (1,086,915) $ (16,349) <br />Nonmajor <br />Revolving Street 247,653 350,646 (102,993) <br />Pedestrian Trail Ways 15,838 15,622 216 <br />2013 Street Project 173,430 237,170 (63,740) <br />Capital Equipment Revolving 9,017 43,303 (34,286) <br />Total$ (657,326) $ (440,174)$ (217,152) <br />The City should continue to annually evaluate 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 />either by future charges or by transfers from other funds. The deficit fund balance in the Park fund of $1,103,264 is due to a <br />transfer out of $825,000 in 2011 to the Pedestrian Trail Ways to fund the project plan. The decreases in the Revolving Street, <br />2013 Street Project, and Capital Equipment Revolving fund are due to street improvement projects and vehicle purchases. <br /> <br /> <br />-9- <br /> <br />