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GENEkAL FUND (Continued) <br />Considering the unpredictable rate of inflation, general cost increases and the <br />time lag on tax collections, the City should attempt to maintain a fund balance <br />equal to at least 25% of next year's expendituzes. Other�aise, the City niay have <br />to resort to short-term anticipation borrowin� pending collection of tax levies. <br />SPECIAL R�VENUE FUNDS <br />Special revenue funds are established to account for taxes and other revenue set <br />aside for a particular purpose. Following is a brief description of each fund. <br />Equipment Revolving Fund - This fund is used to purchase heavy machinery and <br />vehicular type equipment. Revenue for the financing of this eqixipment comes <br />from the using departments in the form of depreciation type charges along with <br />property tas levies. F.quipment expenditures amourted to $145,176 for the year <br />leaving a fund balance at December 31, 1977 of $268,031. <br />Recreation Fund - This fund -was establi�hed as a separate Lund to account fo'r <br />expenditures in the maintenar.ce af its parks and recreation progracns. Rev�nues <br />are from general property taxes and fees charg�d esers of the various Yecreation <br />program5. Revenue of $370,532, including a transPar of $17,691 �rom the Ski Hill <br />Fund, e�:cee3ed expenditures of $305,1(?i reducing the fund deficit to $5,143. <br />Permanent Improvement Fund -'this fund was established to account for espenditures <br />necessary for the construction, renovation or in:,tallation of facilities of a <br />permsnent nature. Fevenues necessary to finance these improvements may come from <br />property tahes, federal or state grants or. transfers from other funds. Expenditures <br />for the year for capital improvements consisted of the following: <br />Police dispatch center <br />Park develonm�+nt <br />36" 6daCer Fee�3er Main <br />Existing sewer line reconstruction <br />Booster station expansion <br />Zce Arena seamless floor and <br />shower fixtures <br />Street base replacement <br />$ 1,595 <br />73,842 <br />4,989 <br />89,000 <br />382,260 <br />6,000 <br />41,245 <br />598 93i <br />An amount of '$43,850 was transferred to the'Chatsworth Park Eund-as part of the <br />City's share of the cost of tYie land acquisition, The fund had a dePi.cit oi $56,104 <br />at December 31, 1977, The deficit occurred when only $20,000 of the budgeted $70,000 <br />in revenue was transferred in 1976 from the Liquor Dispensary Fund. <br />Youtii Servi.r_e Burea�.! - 1'his fut;.d accounts for the e�;penditures of the N. id. Youth <br />Ser.�vzces I;ure.au ,ahich incladzs P.osevill.e tind adjacent communities lying within tl�e <br />boirndzries oF School Districts 621 and 623. Espenditures are used to provi��e <br />cotmseling and ecl;tcatian programs to parents, yauth and their far�ilies. Revcmie ha�: <br />been provide3 from a State Grant and C,E,T,A. The fund balznce at Deaer��ier 31, 1977 <br />was $2,780. <br />II <br />