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The Bridge Project Fund was established to account for the revenues and <br />expenditures associated with the construction of a bridge over I 35 W at County <br />Road B-2. <br />The Tax Increment Project Fund was established to account for the revenues and <br />expenditures for the various projects associated with the creation of the <br />various tax increment financing districts. <br />Special Assessment Fund <br />The Special Assessment Fund is used to account for the construction and financing <br />of public improvements which are paid fully or in part from the special <br />assessments levied against the benefited properties. <br />The cash and investment balance of the fund increased from $9,049,361 in 1984 to <br />$10,482,027 in 1985. <br />The fund balance deficit of $(3,157,784) exists because of the application of <br />generally accepted accounting principles to the financial reporting of deferred <br />special assessments of $3,009,745 and the deferred tax levies of $11,311,850 for <br />this fund. (See Note 2 to the financial statements). <br />Enterprise Funds <br />Enterprise Funds account for the financing of services to the general public in <br />which all or most o£ the costs involved are paid in the form of charges by the <br />user of such service. Except for ownership, these funds closely resemble a <br />privately-owned business. <br />The Liquor Fund accounted for the o£f-sale liquor operation. This operation <br />was discontinued by the City Council on August 31, 1984 and private off-sale <br />liquor licenses will be issued in the future. The balance in this fund was closed <br />to the Permanent Improvement Fund in 1985. <br />Selow is a summary of the off-sale liquor operation: <br />fL'i:b'i <br />Sales <br />Cost of Sales <br />Gross Profit <br />Total Operating Expense <br />Operating Income (loss) <br />Nonoperating Revenue <br />Income (loss) before <br />operating transfers <br />Operating transfers to <br />other City funds $(224 127) <br />> <br />Net income (loss) $(224,127) <br />1984 <br />$ 331,604 <br />264,714 <br />$ 66,890 <br />97,989 <br />$ (31,099) <br />21,307 <br />$ ( 9,792) <br />(89,720) <br />$( 99,512) <br />The Sanitary Sewer Fund accounts for the operation of the sewer system with 9,238 <br />customers currently being billed. The City reviews its financial position and <br />the rate structure annually. Excess fund balances are used to finance current <br />� <br />