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Special Revenue Funds The Recreation Fund accounts for the revenues and expenditures in the administration, maintenance and participant activities sections of the Park and Recreation Department Revenues come from general property taxes, charges for service, and from the City of Lauderdale for recreation services. � The "State and Loca1 Fiscal Assistance Act of 1972" as amended in 1976, provides the City with Federal Aevenue Sharing Funds. The City's share of these funds for the year 1979 was $197,6ll�and expenditures exclusive of transfers to other funds were $71,311 for park land and $107,642 for ice arena improvements. The $38,797 designated for subsequent years espenditures is for park purposes. Revenues from 1972 thru 1979 were $1,367,792. Debt Service Funds This fund is used for the accumulation of monies for payment of general obligation boad principal.and interest. Property taxes provide the necessary revenue. The City has a$850,000 issue for the City Ha11 dated May 1, 1975, and a$650,000 issue for parks dated June 1, 1962, outstanding in this fund. Caoital Proiects Funds Capital project funds account for the proceeds of general obligation bonds and other nonies used for the acquisition of capital facilities and equipment. � The Public Works Reserve Fund was established 6y City Ordinance No. 378 and can be used for any purpose authorized by Minnesota Statute 471.57. The Permanent Improvement Fund accounts for expenditures made during the construction, � renovation or installation of facilities of a permanent nature. Revenues to finance these improvements may come from property taxes, grants, or transfers from other funds. The sanitary sewer inflo/infiltration project and recreation capital improvement cost are recorded in this fund. i� The E�quipment�Fund accounts for the purchase of heavy machinery�and vehicular type � equipment. Revenue for the financing of this equipment comes from the using depart- ment in the form of user charges, general property tax and transfers from other funds. The Federal Grant Fund is for monies received from the Federal Government for flood disaster assistaace. � Ttie State Grant-Chatsworth Park Fund was for a purposed park site. The City Council did not approve the acquisition of this site, and $100,000 in grant money that was received has been returned to the State. The State Grant for Recreation and Lawcon accounts for monies to be used in the development of trails, tennis courts and other park purposes. The State.Aid Street Construction Fund accounts for money received from gasoline tax �'�.... collections apportioned to the City from the State for street construction. This -. money becomes available to the City as construction projects are approved by the State. 4