10.0. SR 04-15-1996 - Laserfiche WebLink

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4~96 CIP FINANCES LANDFILL FUND State law allows for a $1.00 per cubic yard surcharge on mixed municipal solid waste disposed of in the landfill. Some restrictions are placed on the use of these funds, but the City can, and has, designated $.70 of this surcharge for the three revenues noted below. How much money is generated by the surcharge fluctuates as the activity level at the landfill fluctuates. The annual revenues designated for the Government Buildings and Library funds are built into City Hall and Library bond repayment schedules. The balance of the Government Buildings fund is being reserved for a City Hall expansion that is anticipated in approximately seven years. The Street funds are not committed to specific projects and can be reapportioned at City Council discretion. However, for the past few years, the City Council has annually used between $25,000 and $40,000 of the Street Reserves to balance the General Fund budget for the overlays and the seal coating program. LIBRARY ($.05) Revenue (Annual Amount) $19,000 The Library bonds are scheduled to be paid off in 2006. GOVERNMENT BUILDINGS ($.45) Current Fund Reserve Revenue: (Annual Amount) Bond Payment Anticipated 1996 Year End Fund Reserve $110,000 70.000 40,000 The City Hall bonds are scheduled to be paid off in the year 2010. STREETS ($.20) 1/96 Balance (Cash) - Approx. $130,000 1996 Revenues (Annual Amount) 1996 Expenditures: Miscellaneous General Fund Transfer 50,000 10,000 40.000 BALANCE Available for other 1996 and beyond projects $130,000 Possible Streets Projects: (see the Capital Projects List) Page 4 of 13