Annual_Report_1991_001 - Laserfiche WebLink

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1991. Th• Squipment Pund accounts for the purchase of heavy machinary aad other aotoris�d typs equipm�nt. Revenu� for ths fiaancinq of thia �quipmant comsa lrom th• ua�r departmont, inter�at, inter- qovornmaatal rovonus, and prop�rty tases. 1991 �apandituras made from thia fund N�I• $625,4�5. Tho Stat• Grant R�cr�ation Fund accounta for moniaa to be used for th. acquiaition of land and th• dev.lopment of parka. Th� Minn�sota Stat� aid f�nd �ccausts for rev�nues and •zp�nditur�a vhich ar• to be ua�d for tbe conatruction and racoastruction of projecta to b� funded rith state Aid aoniea. Th• 2afrastructur• Raplacamant fund accounts for ree�nuea and �xpanditur�s r�lat�d to raplac�ment of public improvamants which ar• b�ing primarily fundod froa a sp�cial tu l�vy. The Spacial Assaesmant Construction fund accounts for all monias rhich ar� diractlp associatod with public improvmante fundod lzom apacial asaesaments. Tho Sconomie Zncraa•ats Construction Fund vsa •stablish.d i� �990 to accaunt for the revenues and azpenditurea of additional incre- aents raceived in asceaa of the bondad tas iacremant dabt sarv- ic�. Th� Taz incramaat Projact Fund was �stablished to account for tha r�venuea and �spend3turaa for th� 0arious projecta aasociat�d vith th� creation ot the v:rious tsz increaant linancinq districta. �'az Increment Districta Th• Citp Council took action on October 13, 1982, to form a liunicipal Devalopmeat Diatrict and two Taz Sacr�ment Financinq Diatricts, rrith as additioaal Davalapmeat Hi�trict aad Tag Incrament Finaneiaq District b�inq formed in 1984. In 1985, the City aubstantially �odiliad ita Tax Increment Plans to create one dovelopmont district and s�v�ral tas incrament districte. !1s of D�camber 31, 1991, th• Citp haa twalva taz incremant die- tricta. Th� City Council is z�aponaibl• for ad=iniat�rinq ths tas incromant proj�cts. Trust and Aqencv Fund The Northvoet Youth 8ervic• Bur�au is a a�parate nonprolit orqaniaation vhich was •atabliahod under a joint poMara aqreement botvaon th� City of Rosavilla and othez qovernmoatal units. In acoordanc� rith th� t�ras o! th� aqr��ment, th• City provid�a accountinq aorvicse to the Hureau. e