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3 project moves forward, wetland credit sales will eventually be realized from that <br />project, although no assumptions have been made regarding future wetland <br />credit sales. Wetland Bank No. 3 is currently proposed to be funded with an <br />interfund loan from the Municipal State Aid Fund (420). <br /> <br /> <br /> Fund 423, Street Reconstruction, accounts for street reconstruction of non-MSA <br />eligible city streets. Street reconstruction projects are completed every 3 years <br />and funded with bond proceeds. A new capital project fund is created for each <br />project to track the expenditure of bond proceeds. These funds are available to <br />supplement bond proceeds or other funding sources. <br /> <br /> Fund 425, Park & Trail Improvements, accounts for the improvement of current <br />city parks and trails. The fund is entirely funded with an operating tax levy. To <br />provide additional funding the tax levy was doubled in 2025 and is assumed to <br />increase by 40.00% starting in 2027 until a $600,000 tax levy is reached in 2030. <br />The Park Board makes project recommendations to the City Council once <br />funding is available. <br /> <br /> Fund 430, T.I.F District 1-13 Lyngblomsten Senior Housing Project, accounts for <br />the tax increment revenues collected within the district. The district was certified <br />in 2022 and will decertify by 2047. The tax increment pays off a PAYGO <br />Financing Note issued to Lyngblomsten in 2024. <br /> <br /> Fund 484, Comp Plan Updates, accounts for the resources needed to update the <br />City’s comprehensive plan every 10 years. Unused Planning and Zoning dollars <br />from the General Fund (101) are transferred to this fund on an annual basis. <br />Work on the 2050 Comprehensive Plan will begin in 2027. <br />Enterprise Funds <br />The City operates water, sewer, and storm water utilities each accounted for in a <br />separate enterprise fund. Utility rates are charged as outlined in the City Fee Schedule. <br />Each fund has been analyzed in a utility rate or feasibility study and the revenue and <br />current expenditure assumptions from those studies have been represented on the <br />Projected Cash Balance statements along with capital outlay expenditures from the <br />Capital Improvement Program. The ending cash balance for each fiscal year, by fund, is <br />also carried forward and represented on the Cash Balance Summary within the <br />Financial Section of the Plan. <br />Conclusion <br />The Plan is a work in progress and must be reviewed and revised in order to stay <br />viable. While it is a guide, it does portray an overview of what the financial needs of the <br />City are anticipated to be over the five years presented. As conditions change, the City <br />7 <br />Page 121 of 406