02-13-2023 City Council Packet - Laserfiche WebLink

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asset threshold for equipment is $10,000) and is not detailed in the Capital Improvement Program. The annual tax levy funds computer replacements, other equipment (monitors, printers, scanners, phones, plotter, etc.), and agency network access devices. • Fund 405, Park Dedication, is a statutorily required fund. State law requires park dedication fees to be placed in a special fund. The fund may be used only for acquisition or improvement or parks and recreational facilities. It may not be used for their ongoing operation or maintenance. Park Dedication Fees are outlined in the City Fee Schedule. Watermark Park Dedication Fees are represented in the 1/1/2023 cash balance and thus the Watermark Park Development in 2023 is included in the Capital Improvement Program. Outside of the Main Street Trail primarily funded through grants in 2026, no other revenue or expenditures have been assumed. As park dedication fees from future developments are collected park plans will be developed. • Fund 406, Area & Unit Trunk, accounts for new sewer and water infrastructure. City Trunk Utility Connection Fees are outlined in the City Fee Schedule and are collected in full as charges for services or collected as a special assessment. Bond proceeds are projected for the Water Treatment Plant in 2024 and construction of a new Public Works Facility in 2026. The debt service payments are represented as transfer out to the respective debt service fund who will make the entire debt service payment. Water utility base fees are annually transferred in from the water operating fund. Recent increases in the base fees are directly related to the planned Water Treatment Plant and will help support the debt service payments on the facility. • Fund 417, T.I.F. District 1-10 Panattoni Project, accounts for tax increment revenues collected within the district. The district was certified in 2004 and will decertify in 2023. The final year of tax increment will go to pay down the interfund loan from the Building and Facilities Fund (401) for the Legacy at Woods Edge Development. • Fund 418, T.I.F District 1-11 Legacy at Woods Edge Development, accounts for tax increment revenues collected within the district. The district was certified in 2005 and will decertify in 2031. The tax increment will pay off the interfund loan from the Building and Facilities Fund (401) for the Legacy at Woods Edge Development by 2027 and in the same fiscal year start paying off an interfund loan from the Sewer Fund (602) for the same development. The interfund loan from the Sewer Fund is projected to be paid off in 2028. • Fund 419, T.I.F District 1-12 Clearwater Creek Business Park, accounts for the tax increment revenues collected within the district. The district was certified in 7