1997 CAFR - Laserfiche WebLink

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II' FINANCIAL SECTION (continued) Capital Project Funds(continuedl: 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, 1997, there was a fund deficit in the Improvement Revolving Fund of $108,142, which will be recovered through future special assessments and other designated funding sources. 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 Section 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, 1997, showed a deficit of $29,467, and can be recovered through levies or the generating 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, 1997, was $13,208. County Road 116 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 City's share only. The County is responsible for the recording of their direct costs. The fund balance for the period ending December 31, 1997, was $66,671. Rum River Drainage District Fund: The Rum River Drainage District Fund is used to account for storm sewer drainage projects within the special district established in accordance with Minnesota Statutes Section 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, 1997, showed a deficit of $8,976, which can be recovered through levies or the generating of storm sewer revenues from the district. State Highway 47 The State Highway 47 Fund was created to account for the City's costs associated with improving this main trunk highway. The State is responsible for the accurate recording of their share of the costs. The fund balance on December 31, 1997, was $731,944. xv