Annual_Report_1997_001 - Laserfiche WebLink

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The Charitable Gambling F�nd accounts for funds collected by the City from licensed charitable organizations to cover the costs of enforcement of City gambling ordinances. The Wireless Fund accounts for funds collected from rentals of various communications towers sited throughout the community on public property and the expenditures related to maintaining these sites as well as other communication needs. �•� -.�.-I'.�� These f�nds are used for the payment of general obligation and tax increment bond principal and interest. Property ta�ces, assessments to benefitted properties, and tax increments provide the necessary revenue. The City has $21, I 10,000 in general obligation improvement bonds, and $22, I15,000 in general obligation tax increment bonds outstanding at the end of 1997. .� ' • • �� Capital Projects Funds are used to account for financial resources used for Che acquisition of capital facitities 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 ' improvemen[s came from general property taxes, interes[ and intergovernmental revenue. ' Expenditures of $496,985 were made from this fund in 1997. The Equipment Fund accounts for the purchase of heavy machinery and oCher motorized type equipment. Revenue for financing this equipment comes from the user department, interest, inCergovernmental revenue, and property taxes. Expenditures from this fund were $427,256 in 1997. The Recreation FaciliCies Fund accounts for proceeds from the Series 1995 Bond Issue Co purchase recreational land and to construct recreational facilities. The Minnesota State Aid Fund accounts for revenues and expenditures which are to be used for the consCruction and reconstruction of projects to be funded with State Aid monies. The Infrastructure ReplacemenC 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 accounCs for all monies which are directly associated with public improvements funded from special assessments. The Economic Increments Construction Fund was estabiished in 1990 to account for the revenues and expenditures of additional increments received in excess of bonded tax increment debt service. 7