5.4. SR 10-13-2008 - Laserfiche WebLink

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Park Dedication Fund The park dedication fund covers park land acquisitions and park capital improvements. The primary funding source is the park dedication revenues and occasionally federal or state grants. Previous contract for deeds for the Barsody property, Pinewood Golf Course, and the Mahnstrom property have fixed payments over the next couple of years. With the anticipated projections in future revenues from the Community Development Department and the fixed payments, all CIP projects have been moved to 2013 and if revenue picks-up the future CIP's will be reviewed and readjusted based on the updated park dedication revenues and reserve balances. If the fund ends up with negative cash at year-end an interfund receivable will be established from the Park Improvement Fund. Government Building Projects Many of the governmental building projects are funded by the government reserve capital project fund. The majority of the expenditure related to the new library debt, city hall remodel debt, seal coating city surfaces, and some money designated for ongoing building repairs/maintenance such as the Public works roof repair. The public works building project has been included in year 2010. In your packets, you can see the proposed financing of the public works building. Street Improvement Reserve This fund is used to finance the street improvement projects for the City. The fund has maintained a strong fund balance which has provided a way to finance a number of projects including overlays without incurring debt. There axe a number of projects proposed in the street improvement reserve fund and Public Works Director Terry Maurer will be at the meeting to review them in detail. Other projects The Ice Arena and Technology projects have also been included in the 2009-2013 GIP. The Ice Arena projects include roof replacement (2009), lighting system and insulation (2010), lobby remodel (2013). Technology projects included for review include annual upgrades and replacements for servers, data storage, and phone replacement (2012). The Technology projects have been primarily funded from the general fund I.T. operating budget. Attachments: Cash flow spreadsheets for Equipment Replacement Fund, Park Improvement Fund, Park Dedication Fund, Government Building Reserve Fund, and Street Improvement Reserve Debt Levies by year fox proposed projects 2009-2013 Draft Capital Improvement Plan Detail