10.5. SR 11-06-2017 - Laserfiche WebLink

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Park Dedication Fund Funds may be only used for new park expenditures resulting from community growth. With recent plat development activity the Park Dedication fund has seen an increase in revenues in 2017 and the Rivers Edge Park expansion project was completed in 2017. The fund currently has a cash balance of $71,769 as of 10/31/17 and an internal loan obligation of $570,223 to the GRE Reserve Fund for its share of the Pinewood payment in 2016. GRE Reserve Fund We receive an annual payment for hosting the RDF plant based on the annual amount of municipal solid waste processed. The cash forecast assumes continue the RDF plant operation and the payment remains at the current level. Council identified this fund to implement the Wayfinding Master Plan over the next three years. The fund was used to provide interim financing to the Park Dedication Fund until park dedication revenues are sufficient to repay the internal loan. Government Building Fund This fund covers building construction and maintenance, landscaping, and remodeling projects for all municipal buildings. The CIP covers the next five years of the 20-year plan and the estimates are updated annually. The landfill expansion fee and interest earnings are the primary funding sources. The fund covers a portion of the public safety building debt service and the public works building debt service payments. The facility plan will help prioritize the upcoming improvements of several buildings. 2018 projects include: City Hall carpet replacement - $50,000 Facility condition assessment-municipal buildings - $32,000 Public Safety Building – design garage space - $25,000 Floor sweeper/scrubber - $45,750 Sealcoating – municipal buildings - $12,000 Capital Outlay Reserve Fund Funded by interest income and donations, this fund is used for the purchase and replacement of IT hardware/software and miscellaneous capital outlay items. The undesignated cash balance as of 10/31/17 is $381,000. The city and ERMU share a wellness room for its employees. A wellness room committee has provided recommendations on various replacements with the goal of increased room usage and ease of use that provides a full range of workouts. ERMU will provide half of the funding and the city contribution will come out of the Capital Outlay Reserve fund. With funding the 2018 capital outlay items of fitness room equipment ($4,000), turnout gear washer/dryer ($20,000), and technology upgrades ($60,000) the remaining balance of $297,000 in this fund will be insufficient to cover the 2019-2022 technology capital items of $535,000. In addition, we receive cable franchise revenues from the Cable Commission to be used for technology and Council Chamber-related projects. The council chamber upgrades of $20,000 and election equipment payment of $15,600 to Sherburne County for the next three years will be funded out of these revenues. Equipment Replacement Fund The 2018-22 equipment purchase requests were reviewed with the Fleet Committee on August 14, 2017.