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<br />Reserve Analysis 2004
<br />Reserve Policy Adopted by the Falcon Heights City Council, 2003
<br />Year
<br /> General Capital
<br />1999 1,220,272 78,864
<br />2000 1,184,338 135,205
<br />2001 1,224,083 473,831
<br />2002 1,332,898 176,601
<br />2003 1,339,096 129,861
<br />r~
<br />Average
<br />Average Yearly Total
<br />Undesignated Reserve, as of 2003 CAFR
<br />Undesignated Proorietarv Funds
<br />Water Fund (204) Sanitary Sewer (601)
<br />$169,531 $1,370,984
<br />General Capital (401) Storm Sewer (602)
<br />$107,949 $641,833
<br />Public Safety Capital (402)
<br />$213,480
<br />Parks/Public Works Capital (403)
<br />$285,344
<br />Infrastructure (419)-see note below
<br />$1,211,026
<br />General Fund Reserve
<br />$393,976
<br />General Fund-Working Capital Reserve
<br />$686,824
<br />Debt Service-1993 Street Bond Balance
<br />$291,168
<br />Total Undesignated: Total Proprietary:
<br />$3,359,298 $2,012,817
<br />1,260,137 198,872
<br />1,459,010
<br />75%= $1,094,257
<br />Total Undesignated and Proprietary:
<br />$5,372,115
<br />Floating reserve .25 of floating reserve
<br />Unrestricted Reserve: $4,277,858 1,069,464.50 267,366.13
<br />(iota/ Undesignated and Proprietary (.25 of reserve)
<br />minus the T5% "statutory" reserve)
<br />(In 2000, the Council transferred $750,000 from Sanitary Sewer Enterprise Fund (601) to Infrastructure (419)
<br />to meet future needs on the debt associated with the 1999 NE Quadrant Street Bond which was under funded due to insufficient assessments;
<br />subsequently, in 2002, the city applied $80,000 of that transfer to debt service on the Bond. In 2003,
<br />an additional $100,000 was transferred to service the debt.
<br />Therefore, $570,000 of that original transfer is still designated for future debt service by council action taken in 2000).
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