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Roseville Finance Commission <br />Agenda Item <br /> <br />Page 4 of 11 <br /> <br /> <br />As shown in the graph, the General Facilities Replacement Fund is projected to run out of money in <br />2019 and will have an accumulated deficit of $6.1 million by 2037 unless additional funds are <br />appropriated or planned improvements are delayed or scaled back. <br /> <br />By previous Council action, the Council did tentatively commit to re-purposing $355,000 of expiring <br />debt levy towards facility improvements beginning in 2019. This will significantly improve the Fund’s <br />long-term financial condition, but additional corrective measures will need to be taken before then. <br />Another potential revenue source includes State grant funding for some of the Skating Center’s capital <br />needs including the scheduled $2.9 million in improvements in 2020. <br /> <br />Park Improvements (Park Improvement Program) <br />Over the next 20 years, $15.5 million in planned park improvements are scheduled with only $4.6 million <br />available based on current revenues and cash reserves. This is depicted in the chart below. <br /> <br /> <br /> <br /> <br /> $(8,000,000) <br /> $(6,000,000) <br /> $(4,000,000) <br /> $(2,000,000) <br /> $- <br /> $2,000,000 <br /> $4,000,000 <br />2018 2021 2024 2027 2030 2033 2036 <br />General Facilities Replacement Fund <br />Revenues Expenditures Cash Balance <br /> $(12,000,000) <br /> $(10,000,000) <br /> $(8,000,000) <br /> $(6,000,000) <br /> $(4,000,000) <br /> $(2,000,000) <br /> $- <br /> $2,000,000 <br /> $4,000,000 <br />2018 2021 2024 2027 2030 2033 2036 <br />Park Improvement Fund <br />Revenues Expenditures Cash Balance