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CASE #4 {SEMENT RECEIVED FROM THE OFFICE OF AERONAUTICS MINNESOTA DEPARTMENT OF TRANSPORTATION By: Sandra Ashley Helling, Finance Officer Backgroulpd: r The City lhasi now received full reimbursement requested in the amount of $35,549.72 fdom the State of Minnesota for expenditures relating to the GatewaY Airp~3rt master plan and engineering services. These expenditures were incU~ed [during the 'years of 1984 through 1990. This reim~urs+ment is now considered revenue to the City, but as timing and amount ofithi~ reimbursement could not be forecast with certainty, it was not included i~' bU~lgeted revenues for 1992. Observatllon$: As previoqsly!discussed, the City's 1992 revenues and expenditures are within budget. F(~r t~is reason, and the fact the City's fund balance is sufficient to provide re~asO~able working capital, Staff has reviewed the status of other City funds to p!ovi~e a recommendation to the Budget Committee. Depending~upCn the Budget Committee's action in the previous case involving the City's ~qui~3ment Replacement Fund status, the Equipment Replacement Fund may be o~ it~. way to full funding. It is further anticipated that annual future requireme~s Will be funded from the City's General Fund as we have done for 1 992. During 19 1 ithe City established an internal service fund entitled "Self- funding Ini~ura~nce". This fund was established with a goal of setting aside available [dollars to provide for increasing the City's annual insurance deductible ~in ihe future. It is anticipated this action will decrease the City's overall insUranCe costs in future years. The status of this new fund is: $16,134 1,205 1,017 269 111 $18,736 $1 8,736 r 1991 [_Re~_enue: Dividend ireceived from the League of MN Cities Refu~dL f~om the League of MN Cities for prior years Workers' !Comp rebate from the League of MN Cities Comr~isSion reimbursement from Hadtrath & Associates Internist. !earn rigs Total 1991 Revenue December 31, 1991 Fund Balance