10.1. SR 11-07-2016 - Laserfiche WebLink

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Reserve Fund to the Park Dedication Fund and will be repaid from future park dedication revenues. The Park Dedication Fund was also committed to half of the Pinewood payment in 2016;however park dedication revenues in recent years have been insufficient to cover its share of the payment so an additional internal loan from the GRE Reserve Fund will be provided. GRE Reserve Fund RDF Payment—We receive an annual payment for hosting the RDF plant based on the annual municipal solid waste processed. The cash forecast assumes the RDF plant continues operation and the payment remains at the current level. Council identified this fund for the other half of the Pinewood payment. The GRE Reserve Fund will be used to provide interim financing to the Park Dedication Fund until park dedication revenues are sufficient to repay the internal loan. This fund can also be used as a potential ongoing funding source for beautification-related projects such as wayfinding signage,boulevards, and development monument signs. Peaking Plant Payment—From 2010 through 2014 the city received payment from GRE for hosting the peaking plant. This amount is tracked separately in the GRE Reserve Fund and has been used for several one-time capital expenditures such as Ice Arena bond payoff, downtown parking lot acquisition, Bailey Point grant match, and recently for Rivers Edge Park. Government Building Fund Covers building construction and maintenance,landscaping, and remodeling projects for municipal buildings. The building maintenance supervisor worked with the department directors to identify the 20- year building improvements. The CIP covers the next five years of the 20-year plan and these estimates are updated annually. The landfill expansion fee and interest earnings are the primary funding sources. The fund covers the public works building debt service payments. The facility plan will help prioritize the upcoming improvements of several buildings. 2017 projects include: ■ Activity Center—room divider-$20,000 ■ City Hall—replace awnings-$10,000,building dept. reception redesign-$10,500, appliances-$3,500 ■ Public Safety Building— carpet-$20,000, design garage space-$20,000, replace awnings-$4,500, ■ Floor care machine-$6,000 ■ Fire Station—washer/dryer-$2,000 ■ Sealcoating—municipal buildings-$22,000 Development Fund The Development Fund has a cash balance of$878,691 as of 10/31/16;less using the remaining Spectrum payment in lieu of fees ($28,000) leaves a balance of$850,691. This fund was used to develop Northstar Business Park and Natures Edge Business Center. The primary revenues are conduit bond administrative fees, tax abatement repayments for economic development projects,Preferred Powder's internal loan and future land sales in NEBC. Technology The 2017-2021 IT software and hardware for the city will be reviewed. N:APublic Bodies\Agenda Packets\11-07-2016\Final\x10.1 sr CIP 2017-2021.docx