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General Capital Improvement Fund (400)
<br />Building improvements, administrative projects, public safety equipment, parks & recreation
<br />improvements, and public works equipment have generally been funded with the General Capital
<br />Improvement Fund (400). The main source of revenues to fund these projects in the past has
<br />been a portion of the Local Government Aid (LGA). There are adequate revenues for the 2020-
<br />2024 Projects except for $229,071 of park projects that were identified in the Parks Master Plan.
<br />A shortfall is projected in 2024. Solutions for this shortfall will be explained at the workshop.
<br />Infrastructure Capital Project Fund (450)
<br />Street, trails, and storm sewer projects are funded with the Infrastructure Capital Project Fund
<br />(450). The main sources of revenue for the Infrastructure Capital Project Fund are as follows:
<br />•A portion of the property tax levy
<br />•Assessments from street projects
<br />•The electric & gas franchise fee
<br />There are adequate revenues for the projects identified in 2020-2024. The proposed property tax
<br />levy is currently at a constant level of funding for each year in 2020-2024 at $157,200 per year.
<br />This is the same levy amount as 2019.
<br />Fund 400-General Capital Improvements
<br />2019 Est.2020 2021 2022 2023 2024
<br />Revenues 549,656$ 560,228$ 479,800$ 40,100$ 24,900$ 21,500$
<br />Expenditures 820,403 926,740 1,060,620 264,555 308,040 426,150
<br />Net increase/(decrease in fund balance (270,747) (366,512) (580,820) (224,455) (283,140) (404,650)
<br />Beginning Fund Balance 1,901,253 1,630,506 1,263,994 683,174 458,719 175,579
<br />Ending Fund Balance 1,630,506$ 1,263,994$ 683,174$ 458,719$ 175,579$ (229,071)$
<br />Fund 450-Infrastructure Capital Improvement Fund (450)
<br />2019 Est.2020 2021 2022 2023 2024
<br />Revenues 1,006,385$ 1,851,300$ 823,150$ 1,092,200$ 826,900$ 886,200$
<br />Expenditures 175,339 2,823,990 1,344,860 1,243,130 1,001,500 1,314,670
<br />Net increase/(decrease in fund balance 831,046 (972,690) (521,710) (150,930) (174,600) (428,470)
<br />Beginning Fund Balance 2,440,050 3,271,096 2,298,406 1,776,696 1,625,766 1,451,166
<br />Ending Fund Balance 3,271,096$ 2,298,406$ 1,776,696$ 1,625,766$ 1,451,166$ 1,022,696$
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