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  <br />Two large purchases are scheduled in 2027 (Rescue Utility $623,805) and 2028 (Pumper $988,256) <br /> <br />Possible Financing options that were not included in the above fund balance projections: <br /> <br /> <br />1. Little Canada Fire Department contributions/donations. Currently estimated at $39,000. It is <br />possible that the 2022 donation to be over 100,000, an additional $61,000. <br /> <br />2. General property tax levy increase, currently $160,000. Little Canada has the third lowest city tax <br />rate in Ramsey County. <br /> <br />3. Reevaluate and reprioritize the CIP in 2024 and determine if any of the projects/assets can be <br />pushed back or removed entirely. Each year the City Council has an opportunity to review the <br />current ten-year CIP plan and make changes and recommendations. <br /> <br />4. Issuance of bond/equipment certificates. Debt financing is used when the CIP assets/projects cannot <br />be funded from current revenues or fund balance. Further, debt issuance helps spread the payments <br />for assets/infrastructure over their useful life. <br /> <br />Note: The donations and tax levy increases have to be substantial in order to rescue this fund from running <br />a negative fund balance. A combination of all of the above options might be the solution to fund the <br />identified CIP assets. <br /> <br />Attachments: <br /> <br />1. Fund 400 and 437 2023-2032 CIP detail as approved on November 16, 2022.