1997 CAFR - Laserfiche WebLink

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FIN.~NCIAL SECTION ~.ontinuedl ~ecial Revenue Funds (continued) Future Sealcoating Fund: The Future Sealcoating Fund is used to account for contributions from developers and property owners for future sealcoating projects. The fund balance was $238,232 on December 31, 1997, which represented an increase of $3,400 over the prior year. Peace Officers Fund: The Peace Off cers Fund was set up to account for public safety restricted revenues which must be used exclusively for public safety expenditures and other expenditures as specified in conjunction with confiscations and the annual bike road-eo. On December 31, 1997, the fund balance was $34,374, compared to $42,988 on December 31, 1996. Lawful Gambling Fund: The Lawful Gambling Fund was established to account for lawful gambling revenues received and lawful purpose expenditures made by the City as authorized by Minnesota Statutes Chapter 349. The fund balance as of December 31, 1997 was $135,791, which represents an increase of $24,708 over the balance at December 31, 1996. Tree and Sod Escrow Fund: The Tree and Sod Escrow Fund is used to account for escrows collected from developers or builders to guarantee installation of trees and/or sod as required in the City code. On December 31, 1997, the fund balance was $0. Equipment Revolving Fund: The Equipment Revolving Fund is used to account for resources to finance the replacement of City equipment, vehicles, and/or buildings and facilities. The fund balance was at $3,025,044 on December 31, 1997, compared to $2,690,904 for 1996. Economic Development Authority Fund: The Economic Development Authority Fund was established to account for all revenues and expenditures associated with economic development activities within the City. On December 31, 1997, the fund balance was $349,971, compared to $352,748 at December 31, 1996. xiii