Laserfiche WebLink
MINUTES <br />City Council <br />August 5, 1987 <br />The next items in Uhe report which were reviewed were the Special <br />Revenue Fund, Debt Service Funds, Equipment Certificates of 1983, <br />P9SA Bonds of 1986, Storm Sewer Bonds of 1986, Capital Project Funds, <br />State Aid Roads, Future MSA Construction Allotments, and Park <br />Acquisition. <br />Scalze questioned the two funds entitled Park Acquisition and <br />Park Acquisition and Development. <br />The Auditor explained that in 1986 the City budgeted $50,000 for <br />park acquisition and development, and thus a separate fund was set <br />up for this money separate from the Park Acquisition Fund into which <br />park charges are deposited. <br />Scalze asked where the money donated from bingo is being deposited. <br />The City Clerk replied that he has a special fund set up entitled <br />Gifts into which bingo money is deposited. The Clerk reported that <br />he has kept this money separate as there are legal expenses being <br />charged against this fund which he wants to monitor. The Clerk pointed <br />out the pending lawsuit against the City regarding bingo, which the <br />Clerk reported has been turned over to the City's insurance company. <br />However, the City has a$1,000 deductible that it will have to pick <br />up before the insurance company takes over. <br />It was the concensus of the Council that the bingo money collected <br />should go into the Park Acquisition and Development Fund, noting that <br />any legal fees or costs to the City regarding bingo can still be <br />charged back against this fund. <br />The next items reviewed were 1986 MSA Construction, Storm Sewer <br />Construction and Street Overlay Construction Funds. <br />Under the Storm Sewer Construction Fund, Scalze suggested that Project <br />86-91 be retitled Flood Plain & Storm Sewer Access Acquisition, noting <br />that this pertains to the ponding that may be necessary on the Johnson/ <br />Mostad property. <br />Fahey pointed out the money budgeted for Project 86-14, Arcade and <br />LaBore - Ditch 7A noting that this project was deleted. Fahey asked <br />what the City will do with the money that has been budgeted that <br />will not be used. <br />The Auditor replied that the City has 3 years to spend the money, <br />and after that time the money will go into the Debt Service Fun~ <br />to reduce the tax levies for the particular project. <br />The Clerk asked if money in the Storm Sewer Construction Fund could <br />be used for construction of ponds. <br />The Auditor replied that it could. <br />Page -3- <br />