2001 CAFR - Laserfiche WebLink

Home

CITY OF RAMSEY Notes to Financial Statements (continued) December 31, 2001 NOTE 15 — RESERVES AND DESIGNATED FUND EQUITY (CONTINUED) The following designations of unreserved fund equity have been made at December 31, 2001: General Fund Compensated absences $ 290,422 Working capital $ 2,718,135 Debt Service Funds 1992B Improvement Bonds Designated for debt service $ 35 1999A Tax Increment Bonds Designated for debt service $ 3,130 1999A (EDA) Lease Revenue Bonds Designated for debt service $ 276,822 2000A Capital Equipment Certificates Designated for debt service $ 7,413 2000B Tax Increment Bonds Designated for debt service $ 6,874 2001A Taxable Tax Increment Bonds Designated for debt service $ 155,430 2001B Tax Increment Bonds Designated for debt service $ 43,405 2001C Tax Increment Bonds Designated for debt service $ 2,815 2001D Taxable Tax Increment Bonds Designated for debt service $ 3,204 Capital Project Funds Public Improvement Revolving Designated for street maintenance program $ 171,511 The General Fund compensated absences designation represents the estimated long-term liability for compensated absences. The General Fund working capital designation provides for cash flow needs based on an amount equal to 50% of the General Fund budgeted operating expenditures for the upcoming year less amounts reserved for prepaid items. The Debt Service Funds designation represents fund balances which are presently committed to provide financial resources to pay principal and interest on the City's bonded debt. The Capital Project Funds designation is for annual street maintenance programs. -34-