Annual_Report_1983_001 - Laserfiche WebLink

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The mill rates by purpose for these fiscal years are as follows: Purpose General Fund Bonded Debt Funds A11 Other Funds Tota1 Tax Rate Special Revenue Funds 1983 1982 6.57 6.69 2.61 2.79 2.18 2.16 1981 1980 6.59 7.27 2.11 3.24 2.73 2.54 11.36 11.64 11.43 13.05 1979 8.26 3.34 2.12 13.72 The Recreation Fund accounts for the revenues and expenditures in the administration, maintenance and participant activities sections of the Parks and Recreation Department. Revenues come from general property taxes and charges for service. This department administers a11 park and recreation programs, including the golf course and ice arena, and is responsible for the maintenance in a11 twenty-four City-owned parks. The Federal Revenue Sharing Fund accounts for the revenues and expenditures of revenue sharing monies. The "State and Local Fiscal Assistance Act of 1972" as amended in 1976, 1980 and 1983 provides the City with these Federal Revenue Sharing Funds, Revenue sharing funds from 1972 through 1983 were $2,073,211, including funds of $147,701 for 1983. Debt Service Fund These funds are used for the accumulation of monies for payment of general obligation bond principal and interest. Property taxes provide the necessary reverme. The City has an $850,000 issue for the City Hall, dated May 1, 1975, and a$650,000 issue for parks, dated June 1, 1962, outstanding in this fund. Caoital Proiects Fund Capital projects funds are used to account for financial resources used for the acquisition of capital facilities and equipment. The Public Works Reserve Fund was established by City Ordinance No. 378, and can be used for any purpose authorized by Minnesota Statute 471.57. This fund was closed in 1983. The Permanent Improvement Fund accounts for expenditures made during the construction, renovation or instailation of facilities of a permanent nature. Revenue to finance these improvements came from general property taxes, interest and transfers. Expenditures of $63,869 were made 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 other funds. Expenditures of $88,127 were made from this fund. 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 when specific construction projects are approved by the State. ��