Annual_Report_1990_001 - Laserfiche WebLink

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The Infrastructure Replacement fund accounts for revenues and expenditures related to replacement of public improvements which are being primarily funded from a special tax levy. The Special Assessment Construction fund accounts for all monies which are directly associated with public improvements funded from special assessments. The Economic Increments Construction Fund was established in 1990 to account for the revenues and expenditures of additional incre- ments received in excess of the bonded tax increment debt serv- ice. The Tax Increment Project Fund was established to account for the revenues and expenditures for the various projects associated with the initial resources of the various tax increment financing districts. Tax Increment Districts The City Council took action on October 13, 1982, to form a Municipal Development District and two Tax Increment Financing Districts, with an additional Development District and Tax Increment Financing District being formed in 1984. In 1985, the City substantially modified its Tax Increment Plans to create one development district and several tax increment districts. In 1990 the City formed two additional tax increment districts bringing the City's total to twelve as of December 31, 1990. The City Council is responsible for administering the tax increment projects. Trust and Agencv Fund Northwest Youth and Family Services is a separate nonprofit organization which was established under a joint powers agreement between the City of Roseville and other governmental units. In accordance with the terms of the agreement, the City provides accounting services to the Bureau. The Grass Lake Water Management Organization is a separate nonprofit organization which was established under a joint powers agreement between the City of Roseville and the City of Shoreview. In accordance with the terms of the agreement, the City provides accounting services to the Organization. The Deferred Compensation fund is to account for those funds which are held in trust by trustees for future retirement benefits for City employees. General Fixed Asset Account Group General Fixed Assets are those fixed assets used in the performance of general governmental functions and exclude fixed assets of the enterprise funds. The City has chosen to report