2005 CAFR - Laserfiche WebLink

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Public Improvement Revolving Ramsey Town Center - This Capital Project Fund reported a fund balance of $5,407,223. The current fund balance represents bond proceeds, assessments and federal grants that will be used to construct the infrastructure needs in the Ramsey Town Center project. Municipal Center Fund - This Capital Project Fund was created in 2005 to record all costs related to the construction of the municipal center. The year end fund balance of $9,618,369 represents the bond proceeds that remain for construction after an original proceed amount of $15,577,828. 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 asset balance of $53,325,601 at December 31, 2005. 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 the assets, indicated in the above paragraph, reflect the ongoing expansion and provision of services to the various service areas of the utilities. 2004 2004 2004 2o04 2c05 2004 35.771,354 20.115.582 42~365,492 36,879.495 78,136.846 4,292,898 3,826,O06 6,053,791 5,215.275 I0,346,689 56,995,077 $ 1.354.819, Capital Assets- The City's investment in capital assets (net of accumulated depreciation) for its governmental and business-type activities as of December 31, 2005 are as follows: The City's investment in capital assets for its governmental and business-type activities as of December 31, 2005 amounts to $67.8 million (net of accumulated depreciation). Major capital asset events completed during 2005 included developer funded streets added at a total cost of $2.5 million. Developer funded water, sewer, and storm mains were added to the business-type activities in the amount of $4.2 million. Construction in progress showed a significant increase over last year. For fiscal year 2005, approximately $10 million was spent on the construction of the new municipal center and adjacent parking ramp. We anticipate that both of these projects will be completed by the end of 2006. Additional details of capital asset activity for the year can be found in the notes to basic financial statements. -10-