Annual_Report_1985_001 - Laserfiche WebLink

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The mill rates by purpose for these fiscal years are as follows: Purpose 1985 1984 1983 1982 1981 1980 General Fund Bonded Debt Funds All Other Funds Total Tax Rate Special Revenue Funds 7.59 7.50 6.57 3.19 3.02 2.61 2.36 2.03 2.18 6.69 6.59 7.27 2.79 2.11 3.24 2.16 2.73 2.54 13.14 12.55 11.36 11.64 11.43 13.05 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 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. Revenue sharing funds from 1972 through 1985 were $2,377,061, including funds of $151,994 for 1985. The majority of these funds was expended for capital improvements as opposed to recurring expenditures. The Economic Development Fund accounts for the revenue and expenditures used to promote economic development in the City. Debt Service Funds These funds are used for the payment of general obligation and tax increment bond principal and interest. Property taxes and tax increments provide the necessary revenue. The City has $485,000 in general obligation and $22,720,000 in general obligation tax increment bonds outstanding at the end of 1985. Capital Projects Funds Capital projects funds are used to account for financial resources used for the acquisition of capital facilities and equipment. The Permanent Improvement Fund accounts for expenditures made during the construction, renovation or installation of facilities of a permanent nature. Revenue to finance these improvements came from general property taxes, interest and transfers. Expenditures of $96,066 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 user department, and general property tax. Expenditures of $124,416 were made from this fund. The State-Aid Street Construction Fund accounts for money received 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 accounts for monies to abe used for the acquisition of land and the development of parks. �