Laserfiche WebLink
CITY OF RAMSEY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31,1997 <br />Note 7. TAX INCREMENT FINANCING REVENUE NOTES (continued) <br />The outstanding principal balance as of December 31, 1997, for all of these agreements was $734,193. This <br />amount is not included in long-term debt because of the~nature of these notes in that repayment is required only if <br />sufficient tax increments are received. The City's position is that these aze obligations to assign future and <br />uncertain revenue sources and as such, have not been included in long-term debt. <br />Note 8. DEPOSITS PAYABLE <br />Platting and performance deposits are accounted for in the City's Expendable Trust Escrow Fund. A summary of <br />the 1997 changes in deposits is as follows: <br />Total deposits payable January 1, 1997 $ 121,569 <br />Add deposits received 133,682 <br />Less payments from deposit account (124,820) <br />Total deposits payable December 31, 1997 $ 130,431 <br />Note 9. INTERFUND RECEIVABLES AND PAYABLES <br />Interfund receivables and payables at December 31, 1997 are as follows: <br />Funds <br />General Fund <br />Special Revenue Funds <br />Landfill Tipping Fee <br />Landfill Abatement <br />Capital Projects Funds <br />State Aid Construction <br />Section 22 Drainage District <br />Improvement Revolving <br />Mississippi Drainage District <br />County Road 116 <br />Rum River Drainage District <br />Public Improvement Revolving <br />Interfund Interfund <br />Receivables Payables <br />$ - $ 820,828 <br />922 - <br />- 922 <br />14,514 - <br />- 5,351 <br />- 69,567 <br />- 29,467 <br />- 14,515 <br />- 8,976 <br />113,362 - <br />Expendable Trust Funds <br />Landfill Trust 820,828 - <br />$ 949,626 $ 949,626 <br />-23- <br />