10-24-2012 Council Agenda - Laserfiche WebLink

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10% Gambling Fund - #408: This fund uses the resources generated by the 10% tax charged on net profits to local charitable gaming operations. Revenues have picked up some in 2012, but we have not projected those amounts out into the future given our recent past. Expenses in this area are statutorily restricted to police equipment, fire equipment, or activities primarily benefitting our youth. We continue to project $4,000 for fireworks for Canadian Days (the Committee contributes $1,000 to bring the total expenditure to $5,000). We also offset some Parks & Recreation overhead associated with youth programs. You will note that we show a growing fund balance. This money could be used for a playground improvement or some other project when the fund balance reaches the needed level. Infrastructure Fund - #450: This fund finances primarily finances streets, trails, and storm sewer improvement costs. Key revenue sources are a tax levy of $157,200; the franchise fee on electric that generates about $335,000; Municipal State Aid allotments projected around $296,000; special assessment recovery from city projects, and Community Requested Facility Surcharge (CRFS) to help with burying power lines. We can fund approximately $1,000,000 of city paid for improvements per year (net of assessments or other agency funding sources). We have been very aggressive over the years in funding street reconstruction and now overlays. In grouping projects, we try to keep similar type projects together in the same construction year to generate economies of scale. Two potential projects are not included in the five -year plan due to funding limitations. They are Spruce Street from Country Drive south, and Greenbrier from LaBore to County Road D. Staff is re- evaluating the project rankings given some recent developments regarding the Rice Street Phase II. We will have updated sheets ready for Wednesday's workshop. Park Land Acquisition Budget — Fund #456: This fund generates dollars from park development fees associated with new construction. A nice fund balance has built up over the past few years. The major expenses we show are the completion of the Round Lake property acquisitions (two houses) and easement acquisition costs for trail completion segments. The $46,854 is an estimate for easements for Centerville Road. However, the County may have moved Centerville Road to County State Aid Highway status. This means funding is more likely in the foreseeable future and if the road can be reconstructed and shifted west within the right -of -way, we may not need to acquire any easements for a sidewalk on the east side. Water & Sewer Capital Replacement - Fund #604: This fund generates dollars from charging depreciation to our water and sewer enterprise funds. It handles our capital costs for the water and sewer systems such as repainting the water tower, city share of water main costs for single frontage projects, sewer main lining, lift station improvements, etc. The one major change made for 2013 is we increased the budget for a new Public Works facility to allow for a 20,000 square foot building at $100 per square foot.