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(Draft January 2002) Key Financial Strategies
<br /> For Elk River
<br />
<br />Public Works
<br />Facilities
<br />
<br />Timing
<br />
<br />Two projects are planned for City public work facilities.
<br />The existing building will be remodeled. Additional
<br />storage will be built.
<br />
<br />The remodeling started in 2001. The storage facilities are
<br />planned for 2003.
<br />
<br />Estimated Cost $125,000 - remodeling
<br /> $225,000. storage
<br />
<br />Funding Street Improvement Reserve
<br />
<br />Pav~mant Managa'~mt Pm~am
<br />
<br /> 2001 2002 2003 2004 2005 ~ 20O7 20O8 2009
<br />Bond p~meeds 500,000 515,000 530,450 546,364 562.754 579,637 597,026 614,937
<br />
<br />~mts 0 0 0 0 0 0 0 0
<br />M~
<br />~n~ill ~ 229,000 229,000 229.000 229,000 229,000 229,000 229,000 229,000
<br />lnt~t in~e 4% 44,455 48,004 55,013 66,234 77,819 89,860 102,373 115,378
<br />
<br />Total I::~wenue 229,000 773,455 792,004
<br />
<br />Improvema3! costs 500,000 515,000
<br />Debt set-ce 0 0
<br />OIh~r 125~000 200,000
<br />Total Expeqse 125,000 700,000 515,000
<br />
<br />Be~nningbalance 1,059,378 1,163,378 1,236,833
<br />Ending balance 1,163,378 1,236,833 1,513,837
<br />
<br />814,463 841.597 869,573 898,497 928,399 730,315
<br />
<br />530,450 546,364 562,754 579,637 597,026 614,937
<br />0 0 0 0 0 0
<br />
<br /> 530,450 546,364 562,754 579,637 597,026 614.937
<br />
<br />1,513,837 1,797,851 2,093,085 2,399,903 2,718,763 3,050,136
<br />1,797,851 2,093,085 2,399,903 2,718,763 3,050,136 3,165,514
<br />
<br />Utility System
<br />Rehabilitation
<br />
<br />Municipal utilities will be replaced or improved in
<br />conjunction with street reconstruction projects.
<br />
<br />Timing
<br />
<br />Tied to Pavement Management Program
<br />
<br />Estimated Cost To be determined
<br />
<br />Funding
<br />
<br />Reserves in enterprise funds and/or operating revenues.
<br />These costs can be financed separately using G.O. utility
<br />revenue bonds or included with improvement bonds issued
<br />to finance street reconstruction.
<br />
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