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 Recurring revenue and expenditures have been projected. The <br />projected cash balance can be used as a guide on how <br />unanticipated revenue and expenditures would affect the fund. <br /> <br /> <br />• Debt Service Funds <br />o Current outstanding bonded indebtedness is forecasted based on debt <br />service schedules and pledged revenue outlined in the bond documents. <br /> <br /> <br />Capital Project Funds <br />Appendix B incorporates the Capital Improvement Program into Projected Cash <br />Balance statements for each capital project fund. The ending cash balance for each <br />fiscal year, by fund, is also carried forward and represented on the Cash Balance <br />Summary within the Financial Section of the Plan. Specific assumptions and details <br />surrounding each capital project fund are as follows: <br />• Fund 401, Building and Facilities, accounts for the maintenance and construction <br />of municipal buildings and facilities. The main revenue source, charges for <br />services, is cell tower antenna lease and ambulance lease revenue. The <br />interfund loan activity represents the payback of an interfund loan from tax <br />increment revenues for the Legacy at Woods Edge Development. The payback <br />of the interfund loan allows for fund reserves to be used for the construction of a <br />new Public Works Facility. The debt service on the facility construction is <br />represented as a transfer out to the respective debt service fund who will make <br />the entire debt service payment. Charges for services in the fund are anticipated <br />to be at a level to fully make the debt service payment projection by 2032, <br />supplemented by fund reserves in years 2027-2031 for a total estimated about of <br />$190,000. <br /> <br />• Fund 402, Capital Equipment Replacement, accounts for the purchase of capital <br />equipment (including vehicles) for governmental functions, primarily Public Safety <br />and Public Services. The funds sole source of revenue is property taxes. The <br />specific property tax levy for the water tenders is used to annually pay down the <br />interfund loan from the Sewer Fund. The fund balance in the Certificates of <br />Indebtedness Fund (315) can be transferred to Fund 402 as the last certificate of <br />indebtedness matures in 2023. The Plan assumes the use of $150,000 of <br />general fund reserves in 2024. Finally, proceeds from the sale of capital assets is <br />assumed at 10% of the previous year’s capital outlay expenditures. <br /> <br />• Fund 403, Office Equipment, accounts for the purchase of office equipment for <br />governmental functions. The equipment is non-capital in nature (the City’s capital <br />6