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Cap/tal Improvement Plann/ng -June 11, 2001
<br />
<br />Project Summaries
<br />
<br />Expand existing library facility. Two adjacent residential parcels will
<br />be acquired to facilitate the expansion.
<br />
<br />The nature of the expansion has not yet been determined.
<br />Acquire parcels as available.
<br />Design and construct expansion in next five to ten years.
<br />$1,100,000 including land. Cost will vary based on nature and timing
<br />of actual improvements.
<br />
<br />Library Maintenance Fund.
<br />levy and landfill surcharge.
<br />surcharge in 2001.
<br />
<br />Fund financed primarily by property tax
<br />Increased funding from landfill
<br />
<br />Property taxes are sufficient to finance current operating expense.
<br />Landfill revenues should be accumulated and earmarked to pay for
<br />improvements.
<br />
<br />Library building financed by 1994D TIF Bonds. Bonds mature
<br />2/1/07 and callable 2/1/04. $120,146 of fund balance reserved for
<br />existing debt.
<br />
<br />If fund balance is inadequate, internal borrowing or lease revenue
<br />bonds can be used to leverage future revenues.
<br />
<br />Library Maintenance Fund
<br />
<br />Revenue
<br />
<br />Expenditures
<br />
<br />Net transfers
<br />
<br />Surplus/Deficit
<br />
<br />Fund Balance
<br />
<br />Property tax
<br />Landfill surcharge
<br />Interest
<br />Other
<br />
<br />Current
<br />Capital
<br />
<br />E~n
<br />
<br />1997 1998 1999 2000
<br />45,141 46,003 53,534 56,965
<br />37,198 42,580 40,922 57,268
<br />5,701 4,845 5,142 13,114
<br />9,352 8,469 9,881 8,717
<br />
<br /> 97,392 101,897 109,479 136,064
<br />
<br />35,199 28,206 39,276 46,407
<br />100,262 39,854 5,381 3,204
<br />
<br />135,461 68,060 44,657 49,611
<br />
<br />(11,000) (11,000) (11,000) (11,000)
<br />
<br />(49,069) 22,837 53,822 75,453
<br />
<br />143,044 95,261 118,098 171,920
<br />93,975 118,098 171,920 247,373
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