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Special Revenue Funds The Recreation Fund accounts for the revenues and expenditures in the administration, maintenance and participant activities sections o£ the Parks and Recreation Department. Revenues come irom general property taxes and charges for service. This department administers all park and recreation programs, including the golf course and ice arena, and is responsible for the maintenance in all twenty-four City-owned parks. The Federal Revenue Sharing Fund accounts for the revenues and expenditures of revenue sharing monies. The "State and Locai Piscal Rssistance Act of 1972" as amended in 1976 an� 1980 provides the City with these Federal Revenue Sharing Funds. Revenue sharing funds from 1972 thru 1982 were $1,925,510, including funds of $173,473 for 1982. Debt Service Funds These fim ds are used for the accumulation of monies for payment of general obligation bond principal and interest. Property taxes provide the necessary revenue, The City has an $850,000 issue for the City [Iall, dated May 1, 1975, and a�650,000 issue for parks, dated June l, 1962, outstanding in this fund. Capital Projects Funds Capital projects funds are used to account for financial resources used for the acquisition of capital facilities and equipment. Tlie Public Works Reserve Fund was established by City Ordinance No. 378, and can be used for any purpose authorized by P�iinnesota Statute 471.57. The Permanent Improvement Fund accoimts for expenditures made during the construction, renovation or installation of £acilities of a permanent nature. Revenue to finance these improvements came from general property taxes, interest, and transfers, E�penditures of $11S,31S were nade from this fund. The Equipment Fund accounts for the purchase of heavy machinery and other motorized type equipment. Revenue for the financing of this equipment comes from the using department, general property tax and transfers made from otlier funds. Expenditures of $153,291 were made from this fund. The State-Aid Street Construction Fund accounts for money received from gasoline tax collections apportioned to tlie City from the State for street construction. This money becomes available to the City when specific construction projects are approved by the State. The State Grant Recreation Fund accotmts for monies to be used £or the acquisition of land and the development of parks. - �-