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<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 2024 budget. Overall, the 2025 revenues budget is a <br />9.64% increase from 2024 budget, primarily relating to increases in program fees and charges <br />for services for $62,476, primarily relating to rate adjustments for the Recycling & Disposal Fund <br />and rental revenues in the EDA fund from the 2828 Condit Street property. Expenditures budget <br />increased by 6.29% or $53,347 primarily relating to increase in hauler reimbursements in the <br />Recycling & Disposal Fund, these fluctuate with revenue changes. <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 ($2,215,000 outstanding as of 12/31/2024) <br />one note issue ($3,124 outstanding as of 12/31/2024), reflected in its Debt Service Funds. <br />There are sufficient funds for these debt service payments in 2025 and in the future without the <br />use of levy dollars. <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 2025-2034 Capital Improvement Plan (CIP) was reviewed and adopted by the Council in <br />November. Highlights include: <br /> <br /> Roofing to the Old Fire Hall Building, City Hall, and History Center <br /> Pioneer Park – Parking Lot Expansion <br /> Pioneer Park – Vegetation Restoration <br /> Wayfinding Signs <br /> Front End Loader for Public Works <br /> 2025 Street Projects (County Road D, Nadeau Road, County Road C, Maple Leaf <br />Ct, Stone Ridge Ct) <br /> LC Road 4-3 and Roundabout <br /> Efflorescence Remediation at Fire Station <br /> Storm Water Projects related to the 2025 Street projects named above <br /> County Road B Lift Station/Forcemain Upgrades <br /> 200 kW Generator <br /> <br />ENTERPRISE FUNDS <br /> <br />The City of Little Canada currently has three enterprise funds (Water Fund, Sewer Fund, and <br />Storm Water Fund). The Storm Water Fund is a new fund that was introduced in 2024 to finance <br />all the cost relating to storm water infrastructure needs within the City. Previously, all the storm <br />water capital infrastructure, operating and maintenance cost were expensed and recorded in the <br />Infrastructure Capital Project Fund 450, which has been funded mainly with a portion of the <br />property tax levy, franchise fees for electric and gas, and special assessments from street <br />projects. <br />10