4.3. SR 03-31-1997 - Laserfiche WebLink

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CIP Memo Page 3 EQUIPMENT AND INFRASTRUCTURE - There are limited new revenues coming into this fund and the 1997 overall balance is lower due to the city's commitment to the ice arena project. This fund is where monies are held in reserve for such things as the police vehicle computer project, the buy down amount on the fire truck, and major equipment repairs that are beyond what is financeable in the general fund budget. The largest amount of monies in this reserve are designated for equipment for streets, parks, and general city needs. PARK DEDICATION- Monies in this fund can only be used for park land acquisition and development. Most of the current balance in this fund will be used in 1997 for the development of the Cass recreation fields and the County Road I trail. Additionally it should be noted that some matching funds may be needed for a successful grant application and if park dedication monies are not available we will have to access the equipment reserve designated for parks or the capital projects fund. The status of this fund and the needs for park and recreation improvements is the reason why the Park and Recreation Commission is pursuing a public bond referendum. LIQUOR STORE - This fund is tapped, so to speak, as the city recently purchased the Westbound site and is pursuing the construction of a new Northbound store. The funding for these activities still calls for a continued liquor store contribution to the general fund and toward our building payment plans. There are very limited additional liquor store dollars available for new projects. NSP - There is a limited life to this reserve. Revenues for this program end in 2008. Until that year the city has $100,000 per year available. The 1997 allocation has been designated for the Cass fields. In the past this money has been used for the purchase of the Oak Knoll land and field development, the purchase of the city hall land, and the purchase of the Cass land. SURFACE WATER MANAGEMENT- The City Council should refer to the general fund budget for an update on the status of this fund. In 1997, there is less than $50,000 available for projects. In 1998, there will be another estimated $100,000 available for programs and projects. In 1997, it is planned that about $82,000 will be spent on trunk SWM projects associated with the north Joplin Street frontage road. An additional expenditure is going to be needed on Ditch 28. Part of the SWM levy is going toward the repayment of about $2 million in expenditures for past projects. There are a significant amount of needs for SWM projects, but there are limited funds available and the city has to slow down in its SWM expenditures.