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PARK & PLAYGROUND FUND <br />SPECIAL REVENUE FUND <br />ACTIVITY SCOPE: <br />The purpose of the Park & Playground Fund is to assist the City in meeting park acquisition and <br />development needs. Revenues are collected from developers or property owners that develop their <br />Properties. Fees are based on assessed land value or number of lots available. Special. Revenue. <br />Funds, including the Park & Playground Fund use the modified accrual basis of accounting, that is <br />revenues are recognized when received and expenditure. at the time the liability is incurred <br />OBJECTIVES: <br />1. Acquire and develop .current and future parkland property. <br />2.. Provide recreational facilities to all residents; including trails and walkways. <br />MEASURABLE WORKLOAD DATA; <br />2010.2011 2012 2013 <br />ACTUAL ACTUAL ACTUAL ESTIMATED <br />No measurable workload data has been established for this fund. <br />BUDGET COMMENTARY: <br />Revenue source is park dedication fees paid on new construction and/or developments, interest <br />earnings and an operating transfer. <br />At this time there are no park improvements or equipment purchase to be funded from the Park. <br />Acquisition. Fund in`2013, <br />30 <br />