Laserfiche WebLink
Pavement Management – this fund accounts for franchise taxes collected on gas and <br />electric bills which the city uses to fund street projects. <br />Special Assessments – costs of the improvements are levied against those properties <br />that benefit from a particular improvement to finance such improvements. <br />Stormwater Utility – this fund accounts for customer stormwater service charges that <br />are used to finance the stormwater system expenses. <br />Street/Capital Improvement – this fund is used to account for various improvement <br />projects that cannot be easily financed by alternative revenue sources. <br />Trunk Utility – this fund is used on trunk water and sewer improvement projects for <br />which assessments were collected. These funds would be used in lieu of having to <br />issue bonds on future system expansion/improvements. <br />External Sources: <br />Capital Improvement Bonds – these general obligation bonds are issued to finance <br />infrastructure and facility improvement projects. They are backed by the full faith and <br />credit of the City and are subject to the city’s debt limit. <br />Capital Equipment Notes – these notes can be used to purchase capital equipment <br />having an expected useful life at least as long as the term of the notes. The notes are <br />backed by the full faith and credit of the City subject to the city’s debt limit and have a <br />maximum term of 10 years. <br />ERMU – a portion of project costs that are paid by Elk River Municipal Utilities. <br />Federal Grants – grants received from federal agencies approved by the City Council. <br />MnDot – a portion of public works improvement costs on state-aid roads are paid by the <br />Minnesota Department of Transportation. <br />Municipal State Aid – money received from the state for street construction projects. <br />State aid allotments for street construction are based on population and fiscal need. <br />5