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Capital Project Funds(continued): State Aid Construction Fund: FINANCIAL SECTION (continued) The State Aid Construction Fund was established to account for state -aid allotments used by the City for improvement projects to thoroughfare streets designated as municipal state aid streets within the City. The fund balance on December 31, 1995, showed a deficit of $180,678, which will be recovered through cost reimbursements from the annual MSA allotment to the City. Public Facilities Construction Fund: The Public Facilities Construction Fund is used to account for resources to be used in acquisition of land and construction of public facilities. On December 31, 1995, the fund balance was $282,890, compared to $302,656 on December 31, 1994. Tax Increment Project Funds: The Tax Increment Project Funds are used to account for proceeds of bond issues to be used for site improvements and for improvement projects to be fmanced by future tax increments and/or future bond sales supported by property taxes in the form of tax increments. The combined fund balance on December 31, 1995 was $591,282, an increase of $20,501 over 1994. Improvement Revolving Fund: The Improvement Revolving Fund accounts for annual improvement projects to be financed by special assessments and other revenue sources. On December 31, 1995, there was a fund deficit in the Improvement Revolving Fund of $2,577,115, which will be recovered through future special assessments and other designated funding sources. Mississippi Drainage District Fund: The Mississippi Drainage District Fund is used to account for storm sewer drainage projects within the special district established in accordance with Minnesota Statutes Section 444.20. The City may levy for expenditures associated with the construction and maintenance of storm sewer systems and related facilities. The fund balance on December 31, 1995, showed a deficit of $26,394, and can be recovered through levies or the generating of storm sewer revenues from the district. Park Improvement Revolving Fund: The Park Improvement Revolving Fund was established to account for park acquisition and improvements as detailed in the Capital Improvement Program. This fund acts as a clearing account for projects with its main funding source being transfers from the Park Improvement Trust Fund. A fund balance of $5,000 on December 31, 1995. xiv