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2020 Estimate 2021 2022 2023 2024 2025 Revenues $680,488 $445,503 $441,400 $45,500 $43,000 $34,800 Expenditures 872,334 1,096,370 897,680 320,740 437,350 248,160 Net inc./(dec.) in fund balance (191,846) (650,867) (456,280) (275,240) (394,350) (213,360) Beginning Fund Balance 1,663,637 $1,471,791 $820,924 $364,644 $89,404 $(304,946) Ending Fund Balance $1,471,791 $820,924 $364,644 $89,404 $(304,946) $(518,306)
<br />Infrastructure Capital Project Fund (Page 33)
<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 27. As in the past, these streets will be funded with
<br />a combination of the property tax levy and assessments assessed to the property owners in the project
<br />area.
<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.
<br />Fund Outlook
<br />With a property tax levy of $122,200 per year, the fund will have sufficient funds for the infrastructure
<br />projects identified in the next five years. 2020 Estimate 2021 2022 2023 2024 2025 Revenues $2,531,327 $844,400 $811,200 $807,400 $805,000 $801,400 Expenditures 3,539,254 1,207,610 1,198,130 1,042,300 1,168,280 1,064,040 Net inc./(dec.) in fund balance (1,007,927) (363,210) (386,930) (234,900) (363,280) (262,640) Beginning Fund Balance $3,474,818 $2,466,891 $2,103,681 $1,716,751 $1,481,551 $1,118,571 Ending Fund Balance $2,466,891 $2,103,681 $1,716,751 $1,481,851 $1,118,571 $855,931
<br />Park Land Acquisition Fund (Page 34)
<br />Background
<br />The Park Land Acquisition Fund is used to account for park charge payments received from development.
<br />Per City Code 2101.060, the funds may only be used for the purposes of land acquisition, land
<br />development and capital outlay for parks, playgrounds, public open space, storm water holding pond
<br />areas, and debt retirement in connection with land previously acquired for such public purposes.
<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.
<br />Significant Highlights in Future Years
<br />Pioneer Park improvements are scheduled for 2022. A Master Plan of this park started in 2020 and will
<br />be completed in 2021.
<br />Fund Outlook
<br />There are sufficient revenues to fund the improvements identified for the next five years. 2020 Estimate 2021 2022 2023 2024 2025 Revenues $18,000 $16,200 $16,100 $13,000 $11,800 $10,800 Expenditures 380 27,890 635,400 260,410 205,420 5,430 Net inc./(dec.) in fund balance 17,620 (11,690) (619,300) (247,410) (193,620) 5,370 Beginning Fund Balance $1,221,920 $1,239,540 $1,227,850 $608,550 $361,140 $167,520 Ending Fund Balance $1,239,540 $1,227,850 $608,550 $361,140 $167,520 $172,890
<br />7DRAFT DOCUMENT 10-09-2020
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