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<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 and ambulance lease revenue. The interfund loan <br />activity represents payback from the T.I.F District 1-11 Fund (418) for the Legacy <br />at Woods Edge Development. Bond proceeds are projected in 2026 for the <br />remainder of the Public Works Facility funding. Antenna revenues, along with <br />the planned addition of a dedicated tax levy (primarily funded from the existing <br />2015A and 2015 Lease Revenue bonds when matured (in 2031 and 2036)) will <br />be sufficient to service the Building and Facilities portion of the bonded <br />indebtedness. <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 main source of revenue is property taxes. To meet pay- <br />as-you-go capital outlay needs, the tax levy is estimated to increase 20% <br />annually until a $2,000,000 levy is reached in 2031. The fund will likely need to <br />bond for or obtain an interfund loan to purchase an additional pumper truck in <br />2029. The currently-existing specific property tax levy for the fire water tenders <br />funds the annual principal and interest on an interfund loan from the Sewer Fund <br />for a fire truck purchased in 2023. Finally, proceeds from the sale of capital <br />assets is assumed at 10.00% of the previous year’s capital outlay expenditures. <br /> <br /> Fund 403, Office Equipment Replacement, accounts for the purchase of office <br />equipment for governmental functions. The equipment is non-capital in nature <br />(the City’s capital asset threshold for equipment is $10,000) and is not <br />individually detailed in the Capital Improvement Program. The annual tax levy <br />funds council technology stipends, computer replacements, other equipment <br />(monitors, printers, scanners, etc.), and network access devices. <br /> <br /> Fund 405, Park Dedication, is a statutorily required fund. State law requires park <br />dedication fees to be placed in a special fund. The fund may be used only for <br />acquisition or improvement or parks and recreational facilities. It may not be used <br />for their ongoing operation or maintenance. Park Dedication Fees are outlined in <br />the City Fee Schedule. Outside of the Main Street Trail primarily funded through <br />5 <br />Page 119 of 406