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(3) Transfers to the General Fund at year end for deficient General Fund Revenue as <br />outlined in the Excess/Deficient General Fund Revenue Policy (#24-331). <br />(d)This fund is eligible for inter -fund loans. <br />3. Annual Improvement Funds. <br />(a) The City shall maintain one Annual Improvement Fund with individual fund <br />activities created by staff on an as needed basis. Each set of projects financed by a <br />particular revenue source or bond issue shall be treated as a separate fund activity <br />under one main Annual Improvement Fund. All assets, liabilities, fund equity, <br />payments and revenues shall be maintained as separate accounts for each activity. <br />(b) This fund is not eligible for inter -fund loans. As each individual fund activity (for <br />a set group of improvement projects) is closed, the remaining fund equity shall be <br />transferred to the corresponding Debt Service Fund. <br />4. Public Facilities Construction Fund (Fund 9412) <br />(a) The Public Facilities Construction Fund shall be used to account for resources to <br />be used for acquisition of land and construction for public facilities. <br />(b) Funding shall consist of the following sources: <br />(1) Interest earnings on the PIR Fund from the distribution of pooled interest earnings; <br />and <br />(2) Transfers from the General Fund at year-end for excess General Fund Revenue <br />as outlined in the Excess/Deficient General Fund Revenue Policy (#24-331). <br />(c) Expenditures shall consist of the following uses: <br />(1) Transfers to the General Fund at year end for deficient General Fund Revenue as <br />outlined in the Excess/Deficient General Fund Revenue Policy (#24-331) ; and <br />(2) Costs associated the acquisition of land and construction of public facilities as <br />detailed in the annual Capital Improvement Program or as approved by the City <br />Council. <br />(d) This fund is eligible for inter -fund loans. <br />5. Right -of -Way Acquisition Loan Fund (RALF) (Fund 9410) <br />(a) This fund shall be used to account for resources and expenditures related to the <br />purchase of property for future state road development. <br />(b) Funding shall consist of the following sources: <br />(1) Met Council Grant Funds as outlined in Loan Agreements; and <br />(2) Rental Revenue as outlined in Lease Agreements <br />(c) Expenditures shall consist of the following uses: <br />(1) Right -of Way Acquisitions as outlined in the Met Council Loan Agreements; <br />and <br />(2) Improvements of Leased Properties <br />(d) This fund is not eligible for inter -fund loans. <br />Page 7 of 12 <br />