10.3. SR 11-02-2015 - Laserfiche WebLink

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Bonding administrative fees, tax abatement repayments for economic development projects, Preferred Powder's internal loan and future land sales in NEBC. Capital Outlay Reserve Fund Funded only by interest income and donations, this fund has been used for the purchase and replacement of IT hardware and software and miscellaneous capital outlay items. The undesignated cash balance as of 09/30/14 is $898,894. If all our 2016 capital outlay items ($278,500) and the remaining 2017-20 technology ($450,000) are fully funded from the fund the remaining balance will be $170,394. The Human Resource Information System (HRIS) which was programmed in the 2015 CIP ($53,000) will be moved to 2016 as staff is still researching the software. In addition,we received cable franchise revenues from the Cable Commission to be used for technology and Council Chamber-related projects. Staff recommends the election equipment contribution to Sherburne County be funded out of the remaining balance ($45,000). Fleet Summary Provided as information as the Council reviewed the Equipment Replacement Fund with the Fleet Committee on August 10, 2015. Park Improvement Fund The Park Improvement Fund was created to provide a funding source for replacement and further build out/repairs of our current parks/trails. The current funding source is an annual transfer from the Municipal Liquor Store Fund based on a percentage (45%) of profits after approved transfers. Rivers Edge Common Park Funding options are in the attached CIP sheet. The primary source is anticipated to be an internal loan to Park Dedication from the GRE Reserve Fund repaid from future Park Dedication revenue. The retaining wall, stormwater modifications and sewer-related work are charged to the related funds. Park Dedication Fund Revenues increased at the end of 2014 with the recording of new plats after many years of no new plats, which eliminated the outstanding interfund loans. The fund currently has a cash balance of$84,000 as of 10/21/15, although it does have the outstanding Pinewood Contract For Deed obligation in which half of the final payment was committed from Park Dedication. GRE Reserve Fund • RDF payment We receive an annual payment for hosting the RDF plant based on annual MSW processed. Council identified this fund as a funding source for half of the Pinewood Contract For Deed payment. The cash forecast assumes the RDF plant continues operation and the payment remains at the new revised level. If Park Dedication revenues are insuffient to make half of the final Contract For Deed payment an internal loan can be made from this fund. Once Park Dedication revenues are sufficient this fund will be repaid. Staff recommends this as a potential ongoing funding source for beautification-related projects such as the wayfinding, boulevards, and development monument signs in lieu of several other options such as a N:APublic Bodies\Agenda Packets\11-02-2015\x10.3 sr CIP.docx