Annual_Report_1986_001 - Laserfiche WebLink

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The mill rates by purpose foc these fiscal years are as £ollows: Purpose 1986 1985 General Fund 7.72 Bonded ' Debt Funds 3.16 All Other Funds 2_68 Total Tax Rate 13.56 Snecial Revenue Funds 7.59 3.19 2.36 13.14 1984 1983 7.50 6.57 3.02 2.61 2.03 12.55 2 .18 11.36 1982 1981 6.69 6.59 2,79 2.11 2.16 2.73 11.64 11.43 The Recreation Fund accounts £or 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 acena, 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 1986 were 52,473,295, including funds of 596,234 for 1986. The majority of these funds was expended for �' capital improvements as opposecl 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 o£ general obligation and tax increment bond principal and interest. Property taxes and tax increments provide the necessary revenue. The City has 5440,000 in general obligation and 522,720,000 in general obligation tax increment bonds outstanding at the end o£ 1986. Capital Proiects 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 inter-governmentai revenue. Expenditures of S187,945 were made from this fund in 1986. �