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Special Revenue Funds (continued) <br />JFINANCITAUi,- �IiT1�1Il�JiAI� <br />(Continued) <br />Peace Officers Fund: <br />The Peace Officers Fund was set up to account for public safety restricted revenues which <br />must be used exclusively for public safety expenditures and other expenditures as specified <br />in conjunction with confiscations and the annual bike road -eo. <br />On December 31, 1994, the fund balance was $5,998, compared to $10,388 on December <br />31, 1993. <br />Lawful Gambling Fund: <br />The Lawful Gambling Fund was established to account for lawful gambling revenues <br />received and lawful purpose expenditures made by the City as authorized by Minnesota <br />Statutes Chapter 349. <br />The fund balance as of December 31, 1994 was $59,745, which represents an increase of <br />$20,175 over December 31, 1993. <br />Sod Escrow Fund: <br />The Sod Escrow Fund is used to account for escrows collected from developers or builders <br />to guarantee installation of sod as required in the City code. <br />The fund balance as of December 31, 1994, was $1,500. <br />Tree Escrow Fund: <br />The Tree Escrow Fund is used to account for escrows collected from developers or <br />builders to guarantee installation of trees as required in the City code. <br />On December 31, 1994, the fund balance was $2,500. <br />Equipment Revolving Fund: <br />The Equipment Revolving Fund is used to account for resources to finance the replacement <br />of City equipment, vehicles, and/or buildings and facilities. <br />The fund balance was at $2,178,183 on December 31, 1994, compared to $1,913,488 for <br />1993. <br />Economic Development Authority Fund: <br />The Economic Development Authority Fund was established to account for all revenues <br />and expenditures associated with economic development activities within the City. <br />On December 31, 1994, the fund balance was $261,606. <br />xii <br />