1993 CAFR - Laserfiche WebLink

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General Fund (continued) Function Current: General Government Public Safety Highways and Streets Culture and Recreation Unallocated Debt Services Capital Outlay Transfer To Other Funds Total Expenditures Tax Increment Fund: JFJINANQ'.JI &JL 01:77CJIQDN (Continued) The amount of expenditures and transfers to other funds from the General Fund for 1993 and 1992, respectively, are presented in the following table: viii 1993 1992 % of % of Amount Total Amount Total $ 738,800 824,177 329,890 162,032 15,880 4,225 79,885 625,896 $2,780,785 26.6% $ 752,745 29.9% 29.6 794,048 31.9 11.9 350,031 14.2 5.9 176,455 7.1 0.6 -0- 0.0 0.1 16,901 0.7 2.8 132,869 5.4 22.5 265,371 10.8 100.0% $2,488,420 100.0% Special Revenue Funds Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally or otherwise restricted to expenditures for specific purposes. The Tax Increment Fund is utilized to account for general property taxes received in the form of tax increments levied on properties located within the tax increment financing districts. Activity in this fund will increase in future years as increments are generated from development. The increments are used to retire debt issued to finance improvements in the districts and to directly fund additional projects within the district boundaries. The fund balance as of December 31, 1993 was $2,824,904, which represents an increase of $576,132 over December 31, 1992. Landfill Tipping Fee Fund: The Landfill Tipping Fee Fund was established to account for landfill tipping fees collected by the City and expenditures as authorized by Minnesota Statute Section 115A.921 for mitigating and compensating for the local risks, costs and other adverse effects of the landfill located within the City. The landfill closed permanently during 1993, so funding from tipping fees will no longer take place. Future expenditures from this fund will be limited to the interest earned by the fund in any given year. The fund balance as of December 31, 1993 was $527,990, compared to $490,960 on December 31, 1992.