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Note 3.
<br />CITY OF RAMSEY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1994
<br />INDIVIDUAL FUND DISCLOSURES
<br />A. Fund Deficits
<br />The following funds have a deficit balance at December 31, 1994:
<br />Special Revenue Funds -
<br />Minnesota Department of Natural Resources
<br />Grant
<br />Debt Service Funds -
<br />1987A Tax Increment Bonds
<br />1989A Improvement Bonds
<br />Capital Project Funds -
<br />State-Aid Construction
<br />Tax Increment Development District No.II
<br />Improvement Revolving
<br />Mississippi Drainage District
<br />Park Improvement Revolving
<br />Rum River Drainage District
<br />Enterprise Funds -
<br />Water Utility Fund
<br />Sewer Utility Fund
<br />The City intends to fund these deficits through future tax levies, special assessment
<br />transfers from other funds, grants, and various other sources.
<br />B. Budgets
<br />During 1994, the City did not adopt budgets for the Community Development Block Grant, Minnesota
<br />Department of Natural Resources Grant, Future Sealcoating, Future Street Lighting, Peace Officers', Lawful
<br />Gambling, Sod Escrow, Tree Escrow and Equipment Revolving Special Revenue Funds. The following is a
<br />reconciliation between the Combined Statement of Revenue, Expenditures, and Changes in Fund Balance and the
<br />Combined Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget (GAAP Basis) and Actual:
<br />Special Revenue Funds -
<br />With Budgets
<br />Without Budgets
<br />CDBG
<br />Minnesota Department of Natural
<br />Resources Grant
<br />Future Sealcoating
<br />Future Street Lighting
<br />Peace Officers
<br />Lawful Gambling
<br />Sod Escrow
<br />Tree Escrow
<br />Equipment Revolving
<br />Total Special Revenue Funds
<br />Total
<br />Revenue
<br />$ 1,451,627 $
<br />—16—
<br />Total
<br />Expend-
<br />itures
<br />levies, tax increments,
<br />Total
<br />Financing
<br />Sources
<br />(Uses)
<br />7,734 20,803
<br />21,610 - (51,763)
<br />335 3,770 -
<br />12,158 8,586 (7,962)
<br />20,175 - -
<br />2,700 1,200
<br />4,600 2,100
<br />120,026 48,315 192,984
<br />(2,272)
<br />(329)
<br />(22,184)
<br />(219,827)
<br />(8,273)
<br />(7,916)
<br />(24,564)
<br />(14,081)
<br />(7,482)
<br />(9,413)
<br />(176,487)
<br />1,185,397 $ (1,017,619) $
<br />Fund Balance
<br />End of Year
<br />$ 1,224,666 $ 1,069,269 $ (1,150,878) $ 2,533,756
<br />37,623 31,354
<br />(2,272)
<br />223,272
<br />13,540
<br />5,998
<br />59,745
<br />1,500
<br />2,500
<br />2,178,183
<br />5,016,222
<br />Actual expenditures in the Special Revenue Funds exceeded budgeted expenditures by $ 624,437 in the Tax
<br />Increment Fund and $3,827 in the Landfill Abatement Fund.
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