1998 CAFR - Laserfiche WebLink

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Improvement Revolving Fund The Improvement Revolving Fund accounts for annual improvement projects to be financed by special assessments and other revenue sources. On December 31,1998, there was a fund deficit in the Improvement Revolving Fund of $19,221, which will be recovered through future special assessments and other designated funding sources. 1998 Street Maintenance Fund The 1998 Street Maintenance Fund accounts for the resources to be used to finance the City's 1998 street maintenance. On December 31, .1998, the Fund had a deficit fund balance of $48,669. Senior Housing Fund The Senior Housing Fund was established in 1998 to account for all expenditures incurred by the City in concurrence witha joint agreement with Anoka County Economic Development Authority for the funding of a 50- unit Senior Center. The fund balance deficit for the period ending December 31, 1998, was $(14,453). 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 § 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, 1998, showed a deficit of $31,137, and can be recovered through levies or the generation 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. The fund balance on December 31, 1998, was $74,858, compared to $13,208 on December 31, 1997. County Road 116 Fund The County Road 116 Fund was established to account for all costs that are associated with improving County Road 116. Costs associated with this fund are the Ciry's share only. The County is responsible for the recording of their direct costs. The fund balance for the period ending December 31, 1998, was $(7,278), compared with $66,671 on December 31, 1997. -xvii-