Laserfiche WebLink
Funds .~ 3.40 <br /> <br />assessments, expendable trusts, or major capital projects) that <br />are legally restricted to expenditures for spedfled purposes. <br /> <br />Revenue S¼~ring FuncL <br />The Revenue Sharing Fund is used to account for Federal <br />Revenue Sharing Entitlements and their disposition. The <br />t~evenue Sharing Ftmd is not eligible for inter-fund loans. <br /> <br />Parks Fun& <br />The Parks Fund is used to account for the operations, <br />maintenance and improvement of all city-owned parks. The <br />Parks Fund is eligible for inter-fund loans to and from an), <br />other fund. <br /> <br />3. I~_ ndfilI I~mch <br /> This fund is to account for revenue received pursuant to <br /> Minnesota State Laws 1984 Chapter 644, §47 and §7.71 of this <br /> Code. This fund ~-ill also account for all expenditures. <br /> This fund is not eligible for inter-fund loan's. <br /> <br />Debt service funds. Debt Service Funds are used to account for the <br />accmmulation of resources for, and the pa3-ment of, general long <br />term debt principal and interest. <br /> <br />The City shall maintain one Debt Service Fund ~dth individual <br />fund activities created by staff on mn as needed basis. Each debt <br />issue shall be treated as a separate fund activity under one main <br />Debt Ser~dce Fund..4J1 assets, liabilities, fund equity, pa)m2ents, <br />and revenues shaI] be maintained as separate accounts for each <br />activiW. <br /> <br />The Debt Service Funds are not eligible for inter-fumd loans. <br />However, after retirement of the bonds, these funds may be used <br />at the discretion of the City Council. <br /> <br />Capital projects funds. Capital Projects Funds shall be used to <br />account for financial resources to be used for the acquisition or <br />construction of major capital facilities (other than those financed <br />by Proprietary Funds and Trust Funds). <br /> <br />1. State aid construction fund. <br /> The State Aid Construcifion Fund shall be used to account for <br /> State Aid Construction revenue and the disposition of that <br /> revenue by improvement projects to thoroughfare roads <br /> within the City. The State Aid Construction Fund is not <br /> eligible for inter-fund loans. <br /> <br />2. Annual improvement funk. <br /> The CitF shall, maintain one Annual Improvement Fund <br /> ~dth indRddual fund activities created by staff on an as <br /> needed basis. Each set of projects financed by a particular <br /> debt issue shall be treated as a separate fund activity under <br /> <br />Printed 12/28/90 <br /> <br />Page 41 <br /> <br /> <br />