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Elk River, MN - Official Website <br />Justin, Elk River City Engineer <br />37 points <br />The Business -Type Fund is similar to <br />your household budget, which <br />includes groceries, cable bill, electric <br />bill and heating bill (operating <br />expenses), plus saved money for a <br />new car (capital replacement) so you <br />don't spend money on interest. Our <br />Sewer Fund is planning for a multi- <br />million dollar expansion needed to <br />meet projected wastewater demand. 11 <br />is a good financial practice to plan all <br />capital replacements just as a <br />homeowner plans the replacement for <br />a worn roof, furnace or updated <br />bathroom. <br />The only "unrestricted net asset" <br />which is unassigned is in the General <br />Fund, the primary city operating fund. <br />The city maintains, by policy, a <br />minimum fund balance that is 40% of <br />the annual budget. We only receive <br />tax settlements twice a year (June & <br />December) and need funds to cash <br />flow our operations (police, fire, <br />streets etc.). <br />Mar 15, 2013 2:20 PM <br />Ta Flaa as Inappropriate <br />F1General Public Comment <br />18 points <br />Has this topic been discussed at any public <br />meetings? <br />Mar 15, 2013 2:40 PM <br />Flaa as Inappropriate Reply <br />Justin, Elk River City Engineer <br />37 points <br />Yes. The City Council has discussed <br />the long term funding of the pavement <br />management program at the following <br />meetings: July 9, 2012, August 6, <br />Page 6 of 13 <br />http:// mn- elkriver. civicplus .comICommunityVoicelldeal City - Street- Pavement - Managem... 04/11/2013 <br />