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CIP FINANCES <br /> <br />4~97 <br /> <br />GENERAL FUND OPERATING MONIES, LEASE PURCHASE <br />AGREEMENTS, UTILITIES CONTRIBUTIONS (FOR EQUIPMENT), AND <br />EQUIPMENT CERTIFICATES <br /> <br />Annual tax and Utilities monies are spent for building payments and on a <br />number of capital improvement/equipment items. The City averages <br />approximately $300,000 per year on these types of expenditures. Examples <br />of these expenditures include the purchase of emergency preparedness sirens, <br />police vehicles, street/park department equipment and vehicles, office <br />equipment, and the annual payments for the public works building, fire hall <br />expansion and the City Hall building. <br /> <br />INSURANCE FUND <br /> <br />This fund was created through the designation of General Fund monies and <br />through the defeasing of a special assessment bond. This fund is used to pay <br />for unusual legal expenses for activities not covered by the City insurance <br />policy and for the loss of non-insured equipment items. Very limited <br />additional revenues are projected in this fund. Any insurance rebates that <br />are received flow into this fund. Monies from this fund could be shifted to <br />any other category or used for any other purpose at the discretion of the City <br />Council. Approximately $50,000 in revenues are anticipated to be added to <br />this fund over the next five years. Additionally, another $100,000 is <br />anticipated to be added to this fund over the next few years based on an <br />internal loan that was made to the Housing and Redevelopment Authority for <br />the King and Main project. <br /> <br />1/97 Balance (Cash) <br /> <br />$179,000 <br /> <br />Page 14 of 16 <br /> <br /> <br />