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Based on a preliminary analysis, it appears that the current apportionment of MSA monies, along <br />with the current assessment policy will leave a small funding gap in the monies needed to fund <br />the planned reconstruction and major maintenance of MSA designated streets. This is depicted <br />in the table below. <br />Annual 1�ISA Funding Needs & Financing Sources <br />Final Comments <br />Although the policies and/or accounting practices of MSA-related activities have changed over <br />the years, it is fairly evident that a11 MSA monies were expended for MSA purposes. Any <br />residual funds were the result of interest earnings or transfers from other funds that were used to <br />finance the non-assessed portion of MSA designated road construction. <br />It is also evident, that the policies and practices that have been in place over the last 15 years <br />were permitted by State law, and considered customary under generally accepted accounting <br />principles. In addition, the strategies that were implemented and remain in place are the result of <br />an effort to minimize the overall financing costs, and the tax levy requirement for street <br />construction. <br />Attachment A <br />-3- <br />