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CAPITAL PROJECT FUNDS -O THER <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 2023-2032 CIP was approved by Council on November 16th, <br />2022. The Pioneer Parks Master Plan, a Facility Assessment Report, and the 15-Year Pavement Management <br />Plan were completed in 2021. These items are included in the 2023-2032 CIP. In addition, Emerald Ash Borer <br />(EAB) was identified in Little Canada in 2021. Tree removal and replacement costs related to EAB have been <br />included in the CIP. The 2023 projects from the approved CIP are included in the 2023 budget. The CIP can be <br />located at www.littlecandamn.org. <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. 2023 projects include: <br /> 2023 <br />EAB removal & replacement $30,000 <br />Building improvements 556,500 <br />Administration 93,485 <br />Parks and recreation 1,791,586 <br />Public Works equipment 137,000 <br />Total $2,608,571 <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. A 15-Year Pavement Management Plan <br />was completed in 2021. Based on the Plan, there is sufficient funding for the street projects identified for the <br />next 15 years. 2023 Street Projects include Twin Lake Blvd, Sunset Court, Sunrise Drive and Spruce Street. 2023 <br />Storm Projects include County Drive Ditch Cleaning, Demont Storm Pipe and Jackson/Demont Pond Outlet <br />Repair. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />87