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Sources of Funds: <br />The General Capital Improvement Fund (400) receives its revenue from many sources, including Local <br />Government Aid (LGA) and transfers from the General Fund and other funds. The total amount of LGA <br />certified for all cities in 2026 is $664,398,012. The proposed LGA to Little Canada will be $416,576. Of that <br />proposed 2026 LGA, the City allocated 60% to Fund 400 and 40% to the General Operating Fund 101. <br />For 2026, levy revenues of $270,000 were included. This is a proposed increase of $140,000 from the 2025 <br />levy of $130,000. The increase of $140,000 is recommended as a strategic move to build additional funds <br />to be used for the Community Building CIP project's future debt service payment, currently budgeted for <br />2027 at $4,425,000. Once the bonding is issued, the City will reallocate the $270,000 levy toward the debt <br />service levy that would be used to pay the annual debt service payment on the $4,425,000 bond. An <br />additional debt service levy would need to be considered since the estimated debt service payments vary <br />based on the term of the bond (15 years or 20 years) and the cost of the building (4.5 mill or 5.5 mill). As <br />can be noted below, yearly payments are estimated between $350,000 and $512,00. <br />Additionally, Little Canada will lose $72,774 from the last payment of the Cell Tower Lease agreement <br />starting in 2030, with the last payment in 2029. This revenue loss is proposed to be replaced with a levy <br />introduced in 2027 at $50,000 that will gradually be increased by $5,000 each year to reach $75,000 by <br />2032. In addition, the fund is expecting to receive a donation of $80,000 to the Skate Park in 2028 and <br />another transfer of funds from Fund 202 – Cable TV to the amount of $50,000. Lastly, the PILOT – Painter’s <br />Union has been renewed in 2024 for another decade for $10,000 per year. <br />3