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  <br /> ‐ <br /> 50.00 <br /> 100.00 <br /> 150.00 <br /> 200.00 <br /> 250.00 <br />143.23  <br />238.18  <br />162.52 170.94  <br />110.68 130.15  <br />104.36  <br />2023 Police Net Cost Per Capita <br /> <br /> <br />Due to the large difference in costs per capita, it is also proposed to continue to discuss changes <br />to the current funding formula with the contract cities, in order to be more equitable and <br />sustainable for all the contract cities. <br />Other large changes in contractual services includes $35,000 budgeted for the <br />administration/communication assistance as per the Strategic Plan and $100,000 for exploring <br />alternative options for public safety services. <br />SPECIAL REVENUE FUNDS <br /> <br />The City of Little Canada currently operates Special Revenue Funds for its Economic <br />Development Authority, Parks & Recreation, Cable TV, and Recycling & Disposal. There are no <br />major changes when compared to the 2023 budget. Overall the 2023 budget is a 7.31% <br />decrease from 2022 budget in revenues, primarily relating to not budgeting for a transfer in the <br />EDA fund and a 6.00% increase in expenditures due to rate increases for waste and recycling <br />services. <br />DEBT SERVICE FUNDS <br /> <br />The City of Little Canada holds a bond rating of AA+ from Standard & Poor’s. The City of Little <br />Canada currently has two outstanding bond issues ($2,815,000 outstanding as of 12/31/2022) <br />one note issue ($17,984 outstanding as of 12/31/2022), and one interfund loan (approximately <br />$207,000 outstanding as of 06/30/2022) reflected in its Debt Service Funds. There are sufficient <br />funds for these debt service payments in 2023 and in the future without the use of levy dollars. <br /> <br />CAPITAL PROJECT FUNDS <br /> <br />The City of Little Canada has many Capital Project Funds, including the General Capital <br />Improvement Fund and the Infrastructure Capital Improvement Fund. Capital Project Funds are <br />utilized for capital expenditures. <br /> <br />The 2023-2032 Capital Improvement Plan (CIP) will be reviewed by the Council in October and <br />adopted in November. Highlights include implementation of a new software for the Building <br />Department and an Electronic Work Flow Solution for Accounts Payable/Vendor payments <br />processing and electronic filing, City Hall Remodeling, Public Works Street Improvements <br />Includes Sunset Court, Sunrise Drive, Twin Lake Boulevard, and Spruce Street. The Pioneer <br />9