5.4. SR 10-11-2010 - Laserfiche WebLink

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The park dedication fund has seen a drop in revenues in recent years as the recording of new plats has slowed. This fund currently has two contract for deed obligations for land acquisitions; 1)Malmstrom property will be paid in full in 2011, 2)Pinewood golf course will be paid in full in 2013 with a balloon payment. In 2010, enough park dedication revenues were received to cover the obligations for the current year. With the fixed payments and the estimated revenues no projects have been programmed in the current CIP until revenues increase to fund obligations or any internal loans are repaid. The GRE Reserve fund and park improvement fund have had the cash available at the end of the year to make an interfund loan. GRE Reserve Fund (Exhibit E). The GRE reserve fund receives revenues from the RDF plant. This fund had been used for building debt on the 1997 City hall refunding bonds which were called and paid in full in 2009. In addition, this was identified several years ago to make half of the Pinewood contract for deed payments. The cash analysis assumes the RDF plant continues operation. The fund balance is being reserved for half the balloon payment on the Pinewood golf course in 2013. If park dedication revenues don't increase, this fund would be a logical choice to make an internal loan to the park dedication fund for the other half of the Pinewood payment. Starting in 2010, the City has received a payment from GRE for the pealing plant expansion.This amount will be received over the next 5 years. The amount at this point will go in this fund and easily tracked as Council determines the use of this source of revenue. Technology Replacements (Exhibit F). Technology replacement for the most part is funded out of the IT operating budget. Over the next couple of years the major item that is starting to be planned is the phone system replacement. With the virtualization purchase the hardware/server replacements have been reduced rather significantly. tither items to consider ® Grant opportunities are being pursued for pedestrian trails. ® Government buildings fund, and ice arena capital projects will be reviewed at the next meeting. ® Municipal State aid fund and a review of all existing and potential new debt service levies will be reviewed next month. Enterprise Funds These funds will be discussed at the November 11`" worksession. Staff will be presenting the CIP expenditures and rate recommendations at that point.