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<br />Fund Outlook
<br />With only one year of LGA ($347,478) budgeted, there are only sufficient funds to fund the
<br />improvements for the next four years (through 2023). When adding two years of LGA, there are
<br />sufficient funds to fund the improvements identified in the next five years. Another option is to delay
<br />some of the 2021-2024 park projects that were identified in the Parks Master Plan beyond 2024.
<br /> 2019 Estimate 2020 2021 2022 2023 2024 Revenues $549,656 $560,228 $478,700 $39,100 $23,800 $20,500 Expenditures 820,403 995,240 1,060,620 264,555 308,040 426,150 Net inc./(dec.) in fund balance (270,747) (435,012) (581,920) (225,455) (284,240) (405,650) Beginning Fund Balance 1,901,253 $1,630,506 $1,195,494 $613,574 $388,119 $103,879 Ending Fund Balance $1,630,506 $1,195,494 $613,574 $388,119 $103,879 $(301,771)
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<br />Infrastructure Capital Project Fund (Page 32)
<br />Background
<br />Street, trails, and storm sewer projects are funded with the Infrastructure Capital Project Fund that was
<br />established in 1995 as a way to systematically fund these infrastructure projects. Streets improvements
<br />in the next five years are identified on a map on Page 26. As in the past, these streets will be funded
<br />with a combination of the property tax levy and assessments assessed to the property owners in the
<br />project area.
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<br />Source of Funds
<br />The fund receives revenues from many sources including the franchise fee for electric and gas, property
<br />taxes, and special assessments.
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<br />Fund Outlook
<br />With a property tax levy of $157,200 per year, the fund will have sufficient funds for the infrastructure
<br />projects identified in the next five years. 2019 Estimate 2020 2021 2022 2023 2024 Revenues $1,006,385 $1,798,300 $768,950 $1,037,700 $772,100 $831,100 Expenditures 175,339 2,848,990 1,309,860 1,208,130 966,500 1,279,670 Net inc./(dec.) in fund balance 831,046 (1,050,690) (540,910) (170,430) (194,400) (448,570) Beginning Fund Balance 2,440,050 $3,271,096 $2,220,406 $1,679,496 $1,509,066 $1,314,666 Ending Fund Balance $3,271,096 $2,220,406 $1,679,496 $1,509,066 $1,314,666 $866,096
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<br />Park Land Acquisition Fund (Pages 33)
<br />Background
<br />The Park Land Acquisition Fund is used to account for park charge payments received from
<br />development. Per City Code 2101.060, the funds may only be used for the purposes of land acquisition,
<br />land development and capital outlay for parks, playgrounds, public open space, storm water holding
<br />pond areas, and debt retirement in connection with land previously acquired for such public purposes.
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<br />Source of Funds
<br />The park charge payments received during development is the primary source of revenue in the fund.
<br />The fee amount is identified in the City’s Fee Schedule.
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<br />Significant Highlights in Future Years
<br />Pioneer Park improvements are scheduled for 2021. A Master Plan of this park will occur in 2020.
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