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CAPITAL PROJECT FUNDS-OTHER <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 /> <br />The Capital Project Funds-Other are included in the Ten-Year Capital Improvement Plan (CIP). The 2026-2035 <br />CIP is scheduled for review and approval by the Council on October 22nd and November 12th. The Pioneer Parks <br />Master Plan, a Facility Assessment Report, and the 15-Year Pavement Management Plan were completed in <br />2021. These items are included in the 2026-2035 CIP. The CIP can be 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. 2026 projects include: <br /> 2026 <br />EAB removal & replacement $30,000 <br />Building improvements 52,473 <br />Administration 51,800 <br />Parks and recreation 919,000 <br />Public Works equipment 733,750 <br />Total $1,787,023 <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 streets 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, except for the Labore Road Trail project. The trail portion of the Labore Road street project <br />(Centerville to County Road D) was included for completion in 2033 and 2035 at 3.5 million. This project can also <br />potentially be funded earlier with a Metropolitan Council grant or other grant sources. If the grants are <br />awarded, it could potentially fund the entire Labore project or only a part. The Met Council Grant of $1,500,000 <br />has been included in the fund balance projection. If grants are not awarded and the City still desires to move <br />forward with the project, additional revenues (2 million) would need to be identified. <br /> <br />2026 Street Projects includes: RR Crossing Little Canada Rod, Country Drive – LC Rd to So Owasso, LC Road 4-3 <br />and Roundabout, County Road C. <br /> <br /> <br />10% Fund (408): <br />This fund is currently used to account for amounts received and related to the City’s charitable gambling <br />contributions. These funds may only be used for expenditures identified in Minnesota Statutes, section <br />349.12(7)(a). The Canadian Days fireworks are funded from this fund. <br /> <br />104