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Tax Increment Fund – This Special Revenue Fund had a year-end fund balance of $3,124,985 which reflects a $1,978,655 increase from 2012. The increase was due to a reduction in expenditures related to development projects located in The COR (Tax Increment District #14) that were completed in the prior year. Projects include the Northstar Commuter Rail Station, an addition to the municipal parking ramp, and The Residence at the COR apartment building. Housing and Redevelopment Authority Fund – This Special Revenue Fund had a year-end fund balance of $8,230,719. The decrease of $29,035 is attributed to costs associated with marketing and developing The COR. 2012A/2005A G.O. Improvement Bond Refund – This Debt Service Fund had a year-end fund balance of $699,611 with debt service expenditures exceeding current year tax levies and transfers. Public Improvement Revolving Fund – This Capital Project Fund saw an overall increase in fund balance of $677,945 which is attributed to an increase in special assessments and decrease in highway and streets expenditures. Landfill Fund – This Capital Project Fund showed an overall decrease in fund balance of $288,409, which is attributed to the city covering for the development of The COR, a public improvement initiative benefiting the city. This fund was originally established to account for certain landfill-related revenue and the expenditures the City may incur in relation to the landfill. The landfill is now closed and per state statute, funds may be used for expenditures related to improvements that provide a benefit to the entire city. Equipment Revolving Fund – This Capital Project Fund reported a year-end fund balance of $2,019,286. The increase of $238,468 in fund balance was largely attributed to transfers in from the general fund as excess revenue according to the city’s fund balance policy, an increase in revenue in preparation for the purchase of a new fire truck, and a complete reduction in transfers out from the prior year. Public Improvement Revolving The COR Capital Project Fund – This capital project fund decreased overall fund balance $133,201. The decrease is attributable to expenditures related to the development of The COR including, legal fees, development management fees, platting fees, and public improvements to the area. 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 position balance of $79,464,306 at December 31, 2013. 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 net position reflects the ongoing expansion and provision of services to the various service areas of the utilities. 34