Agenda - Council Work Session - 06/28/2016

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Tax Increment Fund—This Special Revenue Fund had a year-end fund balance of$4,823,393 which reflects a $1,927,682 increase from 2014. The increase was due to the reimbursement from the Residence at the COR per their development agreement. COR Land Fund—This Special Revenue Fund had a year-end fund balance of$8,767,239. The increase of $655,478 is attributed to the gain on the sale of land that the City sold in the COR area. 2012A G.O. Improvement Bond Refund Fund — This Debt Service Fund had a year-end fund balance of $725,429 with current year tax levies and investment earnings exceeding debt service expenditures. 2012B Residence at the COR Bond Fund—This Debt Service Fund had a year-end fund balance of$0 due to the outstanding debt of$7,320,000 being paid off. Public Improvement Revolving Fund—This Capital Project Fund saw an overall increase in fund balance of $500,408 which was attributed to the excess revenue transfer per the city's policy. Landfill Fund—This Capital Project Fund showed an overall increase in fund balance of$126,056, which is attributable to a transfer into the fund for a reimbursement.This fund was originally established to account for certain landfill-related revenue and the expenditures the City may incur in relation to the landfill. The landfill is now closed and per state statute, funds may be used for expenditures related to improvements that provide a benefit to the entire city. Equipment Revolving Fund—This Capital Project Fund reported a year-end fund balance of$1,935,371. The increase of$453,416 in fund balance was largely attributable to the transfer of funds from the Sunwood Drive project. Public Improvement Revolving The COR Fund — This capital project fund increased overall fund balance $23,188. The increase is attributable to funds received from land sales to be used for development manager fees to be paid when the project is completed. Fire Station #2 Fund—This Capital Project Fund was created this year to fund the construction of the City's second fire station. The fund balance of$575,084 is remaining bond proceeds that will be used to complete the building. Proprietary Funds — The City's Proprietary Funds provide the same type of information found in the government-wide financial statements, but in more detail. The City's Enterprise Funds had a combined net position balance of$83,546,821 at December 31, 2015. The City's Internal Service Fund had an ending net position of$474,936. The financial activities of these funds have been summarized in previous charts within this discussion. The Enterprise Funds consist of the Water Utility Fund,Sewer Utility Fund,Street Light Utility Fund,Recycling Utility Fund, and Storm Water Utility Fund. The growth in net position reflects the ongoing expansion and provision of services to the various service areas of the utilities. 34