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PARE[ & PLAYGROUND FUND <br />SPECIAL REVENUE FUND <br />ACTIVITY DESCRIPTION: <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 fats 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 />GOALS: <br />Acquire.and'develop current and future parkland property. <br />2. Provide recreational facilities to all residents, including trails and walkways. <br />BUDGET COMMENTARY; <br />Revenue source is park dedication fees paid .on new construction and/or developments, interest. <br />earnings. and any.operating transfers. <br />At this time, there are no park improvements or equipment purchase to be funded from the Park <br />Acquisition Fund in.201.9. <br />30 <br />