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NOTE 5 — LONG-TERM DEBT (CONTINUED)
<br />D. Minimum Debt Payments
<br />Minimum annual principal and interest paytnents required to retire bonds and certificates of indebtedness
<br />are as follows;
<br />$ 28,235,000
<br />Bonded Debt
<br />2009 $ 2,560,000 $ 1,180,172 $ 425,000 $ 39,421
<br />2010 1,845,000 1,081,788 360,000 23,563
<br />2011 1,635,000 1,007,383 165,000 9,469
<br />2012 1,410,000 940,302 170,000 3,188
<br />Year Ending
<br />December 31, Principal Interest Principal Interest
<br />2013 1,430,000 885,335
<br />2014- 2018 6,520,000 3,568,794
<br />2019 -2023 6,760,000 2,215,883
<br />2024 -2027 6,075,000 654,867
<br />$ 11,534,524
<br />Governmental Activities
<br />NOTE 6 — FUND BALANCE RESERVES AND DESIGNATIONS
<br />-42-
<br />Capital Equipment Certificates
<br />$ 1,120,000 $ 75,641
<br />At December 31, 2008, the City had the following reservations and designations of fund balances in its
<br />Governmental Funds:
<br />Reserved Designated
<br />General Fund
<br />Reserved for prepaid items $ 5,351 $ —
<br />Designated for working capital — 4,898,333
<br />Designated for budget carryover — 455,057
<br />Designated for compensated absences — 639,462
<br />Tax Increment Special Revenue Fund
<br />Designated for Ramsey Town Center infrastructure — 4,766,901
<br />Public Improvement Revolving Capital Project Fund
<br />Designated for capital projects — 300,000
<br />Landfill Capital Project Fund
<br />Reserved for advances to other funds 318,154
<br />Public Improvement Revolving Ramsey Town Center Capital Project Fund
<br />Reserved for capital projects 842,934
<br />RTC Streetscape Capital Project Fund
<br />Reserved for capital projects 1,703,786
<br />Nonrnajor Governmental Funds
<br />Special Revenue Funds
<br />Designated for employee salary chargeback — 80,470
<br />Debt Service Funds
<br />Designated for debt service — 2,393,118
<br />Capital Project Funds
<br />Reserved for Mississippi Storm Drain District — 282,881
<br />Designated for capital projects — 733,787
<br />$ 2,870,225 $ 14,550,009
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