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Park Dedication Fund <br />Recent plat development activity has increased fund revenues to a cash balance of about $932,000 as of <br />10/31/2021. Projects planned for 2022 include Lion John Weicht Park ninja/fitcore system, YAC playground <br />netting, and Orono Park security cameras and pickleball wind/shade screens. <br />Pavement Management Fund/MSA <br />A franchise fee on gas and electric utilities is the primary ongoing revenue source to provide long-term funding <br />for the pavement management program. Municipal State Aid (MSA) is also utilized to fund portions of various <br />street improvement projects. The maintenance portion (25%) of MSA offsets the cost of the sealcoating and <br />smaller overlay preventative maintenance projects. MNDOT's transportation funding allotment for 2021 was <br />reduced 8.6% from the previous year. <br />Trunk Utility Fund <br />This fund consists of special assessment revenue from water and sewer improvement projects. The funds will be <br />used on trunk water and sewer improvement projects in lieu of having to issue bonds on future system <br />expansion/improvements. Projects include extending utilities for Natures Edge Business Center III through a <br />partnership with Cargill to expand industrial development and the relocation of utilities for the Hwy 169 project. <br />Proceeds from the sale of industrial property in Natures Edge Business Center III will reimburse the funds used <br />for installation of the infrastructure improvements. <br />Street/Capital Improvement Fund <br />Covers street and infrastructure improvements not included in the Pavement Management Fund. When the <br />remaining special assessment repayments end in 2023, interest earnings will be the only ongoing revenue source in <br />the fund. There are no identified projects at this time or requirements for spending. <br />GRE Reserve Fund <br />Undedicated funds that were received for hosting the GRE recycling plant which ceased operations in 2019. <br />Interest earnings is the only revenue source supplementing the fund. This fund was used in 2021 for the portable <br />radio upgrade purchase of $935,258 and was approved for financing the downtown dock of $135,704. <br />Financial Impact <br />N/A <br />Mission/Policy/Goal <br />Identify funding to develop a sustainable and prosperous community that reflects the culture of citizens and what <br />is important to the majority. <br />Attachments <br />■ 2022-2026 Capital Improvement Plan <br />N:APublic Bodies\Agenda Packets\11-15-2021\Fina1\x9.5 sr CIP.docx <br />