Agenda - Parks and Recreation Commission - 12/10/1992

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City Ca!piti1 Project Fund ~425 and Expendable ~.'rust Fund i iI Ci=y of Rams~.y Park Funds ~ ~By: Sandra A~hley Helling, Finance Officer B~ ckgr ound~: ~ne City h~ ~Wo ~unds ~'or p~rk capita~ or improvement funding. The ~und (n~er~o~y) is uhe Capltai Pro3~s~ Fund *425. The purpose of this fund is to aCcou~= ~or uhe acquisitmo~ of park land expenditures and costs related to the ~mp~ov~memt of parks within the City. The secon~ ~und, %80~ is the CiTy's Ex~e~d~ble Park Improvement Trus~ Fund which is use~ to account for all 'park de~iG~ion fees. Interim Fin~nc~al Report ~or Fund ~805. Ob~erva~i~ns~: The !nter~m~F~nancaal Report as o! 9/30/92 Oetai!s encumbrances againsu this Trust Bala~ce:~ As of uhis wrztin9, the available balance in this lund $50,039.33.~ T~is will increase somewhat upo~ finalization of project cos=s funded in ~oo~ and the revised balance will be brought back to the Budoet Co,=tree i~ Die near In 1990 =h~ ~msey City Council approved an inter-fund loan ~rom the Trust Fund to uhe~C~Di=al Fund for so~uball fzeids at Cen=ra! Park. It was expecued that a bon n~ Zssue or so~ o~her revenue should would repay thzs loan a~ future da~e~, Staff Re=~nda~ion: I~ ls reco~e~ded uhe Inuer~und Loan be=ween uhe Improvement Fund and Capiua! Prc]ec= Fu~d b~ canceled during 1992. This will result ina zero balance uhe cap=ua~ fund as compared no the =urrenz Oefis!t in uhe amount $100,657.!0~. Budge= Co~ ~=ee Ac=ion .' Based on Review Ch~cklis'.: