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General 5 227,038
<br />Special revenue 48�29$
<br />Debt service 12,188
<br />Capital projects 1,360,163
<br />Special assessments 620,853
<br />Enterprise 210,893
<br />Internal Service 42,334
<br />Trust and Aqency 846
<br />Total B 2 522,613
<br />1986 did show a substantial increase in interest earnings due
<br />primarily Lo larger than normal capital projects cash balances.
<br />The following is a history of earnings by year:
<br />Year
<br />1982
<br />1983
<br />1984
<br />1985
<br />1986
<br />Tax Increment Districts
<br />Earninqs
<br />1,464,996
<br />1,223,593
<br />1,485,822
<br />1,483,921
<br />2,522,613
<br />The City Council took action on October 13, 1982, to form a
<br />Municipal Development District and two Tax Increment Financing
<br />Districts, with an additional Development District and Tax
<br />Increment Financing District being formed in 1984. In 1985, the
<br />City substantially modified its Tax Increment Plans to create one
<br />development district and several tax increment districts. In
<br />1986 the City formed two additional tax increment districts
<br />bringing the City's totai to £ive as of December 31, 1986.
<br />The City Council is
<br />increment projects.
<br />General Fund
<br />responsible for administering the tax
<br />� The General Fund accounts £or all financial transactions not
<br />properly accounted for in any other fund. Revenues (including
<br />operating transEers) of the General Fund totaled 54,789,721, a
<br />decrease of S 13,806 from 1985. Expenditures (including
<br />� operating transfers) for the General Fund totaled 54,362,350, a
<br />decrease of 5187,618 over the previous year. The fund balance
<br />increased by $427,371, and was S3,478,337 at the end o£ the year.
<br />The fund balance is available to provide working capital for the
<br />fund until tax settlements are received in July and December o£
<br />each year, to provide funds £or unknown events which would have
<br />an adverse effect on the fund, and to help finance future
<br />budgets. The City has designated S500,000 of this balance for
<br />natural disasters, 5800,000 for revenue variations, 51,425,000
<br />for working capital, 55,444 for the Employee Weifare Program
<br />5268,851 for vacation pay and compensatory time of£, and 539,672
<br />for future expenditures.
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