4.1. SR 06-02-1997 - Laserfiche WebLink

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CIP FINANCES 4~97 LANDFILL FUND State law allows for a $1.00 per cubic yard surcharge on mixed municipal solid waste disposed of in the landfill. Some restrictions are placed on the use of these funds, but the City can, and has, designated approximately $.70 of this surcharge for the three activities noted below. How much money is generated by the surcharge fluctuates as the activity level at the landfill fluctuates. The annual revenues designated for the Government Buildings and Library funds are built into City Hall and Library bond repayment schedules. The last library bond payment is scheduled for 2006 and the last City Hall payment is scheduled for 2010. Any accumulated balance in the Government Buildings fund is being reserved for a City Hall expansion that is anticipated in approximately seven years. The Street funds are not committed to specific projects and can be spent at City Council discretion. For the past few years the City Council has annually used between $25,000 and $40,000 of the Street Reserves to balance the General Fund budget for the overlays and the seal coating program. LIBRARY ($.05) ... annual revenue estimate $ 20,000 GOVERNMENT BUILDINGS ($.45) ... annual revenue estimate $180,000 STREETS ($.20) 1/97 Balance (Cash) - Approx. 1997 Revenues 1997 Expenditures: 169 Fencing Bridge Railing Naples Street General Fund Transfer BALANCE $ 230,000 $ 80,000 $ 10,000 $ 21,000 $ 20,O00 $ 35:000 $224,000 1998 - 2001 Revenue Estimate of $70,000/yr. - 1998 Pr~ect: School Street East of CR 1 General Fund 1999 Project: Old Core Village General Fund Page 6 of 16 $280,000 $ 25,000 35,000 $ 37,500 35,000