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CAPITAL PROJECTS FL'NDS fContitwed) <br />Lau�con Fund - Revenue of $48,950 received through a grant from the State of Minnesota <br />together with an equal amo<<nt transferred from the General Fund are used to acquire <br />land for park purposes. Expenditures far the year totaled $65,698 leaving a fund <br />balance ava�lable Yor future land acquisitians of $32,202. <br />Bike Trails Fund - A grant of $19,079 received from the State of Mitmesota to be <br />use3 for the constructi.on of bicycle trails in the City. Expenditures were <br />' $21,577 with a transfer from the ;eneral Fund of $2,498 to fund the unfin2nced <br />portion. <br />' Fire Station �`3 Fund - Construction costs have been financed by transfers irom <br />revenue sharit�g through �he Public Works R�scrve Fund. Espenditures ior the year <br />totaled $316,6�6 caith $35,181 approp:iated for future construction requiring an <br />additi.onal $5&,249 to be transferx•ed to finance present committments. <br />Ci.ty Ha11 Construction Fund - Proceeds irom thz sale of bonds together with <br />transfe.rs trom the Publi.c kTr,rks Reserve Fuzfd and the Ret=enue Sharing Fuiid provide <br />most of ihe fina,?.cing r.ecessary for the con=:�ructi„n of the Tiew Cit;� Hal'i. <br />Expendi,*.u���s ror 1975 tetal.�ti $909,930 c,ir_h $248,�30 appropriated far. futu.re <br />construr.tion leaving an unappropr.i:ated fund halance of $25,888 at December 31, 19i5. <br />SPBCTAL AS: ESSriP:NT FUt9DS <br />Special assesen!en.Y. funds are established to account for assessmer.ts le•aied t� <br />fi.riaiice irorot�.me�nts or. services deemed to benefit the properties against cahich <br />i.he asser-.e:n:ncs r=r.e levied. Primarily, the trattsactions accounT.ed =or i.r. the <br />s�.e:eia� ass�ssiaert construction funds are xec�itzts ef bond proceeds and d'zsbu�•se- <br />m��.ats of bond �,roceeds for ccnstruction cacrk 3one. Special assassr.:ent debt ser.vice <br />fur.ds ar2 prinaxi_ly to accour.t �or collection of assessments a..gainst =>enefited <br />proper.ty oc.*cers an3 disbursement ef assessment cailections for the pa;�nent ef <br />bonds and interest. Deferred tax levies are set up to finance the City's shar.e <br />oi th.e improvemen.t cost-s. <br />ENTEitYR1:iF FtTNDS <br />A condensed summary r�f opera[ions by fund for each oi the past three years is <br />prese�ited "below. <br />Liquor 3)ispensary Fund <br />1975 <br />�'ercent <br />of salczs <br />Sales $1,124,148 <br />Cost of sales 858,459 <br />Gr.oss profit 265s689 <br />Opezating expE�.ases 156,073 <br />Administrative expense 42,083 <br />Operating income 67,533 <br />Other 3ncome �1�941 <br />fdet incorne 9 � <br />'----6.--' 4'-`- <br />100.00 <br />76.37 <br />23.63 <br />i3.8S <br />3.74 <br />6.OI <br />.17 <br />_6. i8 <br />IZI <br />I974 <br />Percent <br />of salcs <br />$1,234,122 <br />956,153 <br />$ 277,969 <br />143,�69 <br />3?.� 3 F35 <br />1.02,415 <br />--2�66U <br />_$_7.�S�Q75 <br />100.00 <br />77.4� <br />22.52 <br />11.60 <br />2.62 <br />8.30 <br />.21 <br />_R.51 <br />1973 <br />$1,099,88II <br />_55�6 S <br />$ 245�_i20 <br />130;927 <br />3i 1F12 <br />-----86 � 1 u 1 <br />� i347 <br />;—_9 J—,_y `L$ <br />Yercent <br />oi saI=�< <br />]0�.00 <br />77 �s0 <br />22.i3O <br />—li, �)o <br />2 . R(i <br />�%uSG <br />. ti$ <br />_.$_. 3? <br />