|
Mr. Joel Hanson, City Administrator
<br />City of Little Canada
<br />Page 3
<br />STATE AID ROADS FUND
<br />The City's State Aid Roads Fund was established in 1981 to account for various MSA mad
<br />improvements and MSA bond proceeds (MSA Bonds of 1981) which were issued to finance such
<br />improvements. Schedule 6 presents a complete history of the financial activities of this fund,
<br />which are summarized as follows:
<br />1988
<br />and Prior 1989 1990 1991 Total
<br />FINANCIAL RESOURCES:
<br />•Bond Proceeds - MSA $220,590 $220,590
<br />•Bond Proceeds - S.A. $138,185 138,185
<br />•MSA Allotments:
<br />•Project 1981 -12 42,827 42,827
<br />•Project 1981 -14 111,124 111,124
<br />•Project 1983 -27 244,596 244,596
<br />•Project 1989 -23 $257,871 257,871
<br />•Past Bond Interest $16,059 43,652 37,317 97,028
<br />•Investment Interest 56,291 10,826 18,889 86,006
<br />•Transfers In: 146,200
<br />-General Fund 56,200 90,000
<br />•Storm Sewer
<br />Construction 242,000 94,450 336,450
<br />Torais $731,628 $348,059 $192,663 $408,527 $1,680,877
<br />FINANCIAL COMMITMENTS:
<br />•Construction Costs:
<br />•Project1981 -12 $151,842 $151,842
<br />•Project 1981 -14 125,263 1,661 126,924
<br />•Project 1983 -27 282,611 282,611
<br />•Project 1984 -13 208,743 5,445 6,218 220,406
<br />•Project 1985 -5 708 708
<br />•Project 1987 -4 15,469 15,469
<br />•Projects 1988 -11 & 14 10,777 10,777
<br />•Projects 1989 -23 324,885 $30,929 355,814
<br />Transfers Out:
<br />•MSA Bonds -Debt Service 39,000 39,000
<br />•City Hall Fund 146,200 146,200
<br />Total $808,167 $179,552 $331,103 $30,929 $1,349,751
<br />FUND BALANCE (DEFICIT) - December 31, 1991 $331,126
<br />Page 34
<br />
|