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CAPITAL PROJECT FUNDS-OTHER <br /> <br />Overview <br />Capital Project funds are used to account for the financial resources to be used for the acquisition or <br />construction of major capital facilities. The City of Little Canada has many Capital Project funds. The Capital <br />Project funds are classified in two categories (Capital Project Funds-Other, and Capital Project Funds-TIF). <br /> Capital Project Funds-Other <br />• General Capital Improvement Fund (Fund 400) <br />• Infrastructure Capital Improvement Fund (Fund 450) <br />• 10% Fund (Fund 408) <br />• Park Land Acquisition Fund (Fund 456) <br />• Fire Equipment Replacement Fund (Fund 457) <br />• Owasso/Woodlyn Redevelopment Fund (Fund 474) <br /> <br />The Capital Project Funds-Other are included in the Five Year Capital Improvement Plan (CIP) with the exception <br />of the Owasso/Woodlyn Redevelopment Fund. The 2020-2024 CIP was approved by Council on November 20th, <br />2019. The 2020 projects included in the 2020-2024 CIP are included in this 2020 Budget. <br /> <br />A summary of the Capital Project Funds-Other are included below: <br />General Capital Improvement Fund (400): <br />This Capital Project Fund is to account for major capital improvements and acquisition projects not accounted <br />for in another Capital Project fund. <br /> <br />Infrastructure Capital Improvement Fund (450): <br />The Infrastructure Capital Improvement Fund is used to account for amounts received and the related <br />expenditures for the City’s street and various infrastructure projects. <br /> <br />10% Fund (408): <br />This fund is currently used to account for amounts received and related to the City’s charitable gambling <br />contributions. These funds may only be used for expenditures identified in Minnesota Statutes, section <br />349.12(7)(a). <br /> <br />Park Land Acquisition Fund (456): <br />The Park Land Acquisition Fund is used to account for allowed uses of park acquisition fees. Per City Code <br />2101.060, the funds may only be used for the purposes of land acquisition, land development and capital outlay <br />for parks, playgrounds, public open space, storm water holding pond areas, and debt retirement in connection <br />with land previously acquired for such public purposes. <br /> <br />Fire Equipment Fund (457): <br />This fund is used to account for amounts received and related to fire department equipment purchases. <br /> <br />Owasso/Woodlyn Redevelopment Fund (474): <br />This fund is used to account for amounts received and related to expenditures of the Owasso/Woodlyn <br />Redevelopment Area. <br /> <br />72