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The fund balance of the General fund continues to grow as shown below:
<br />Expenditure Fund Balance Percent
<br />Budget Beginning of Year of Budget
<br />1991 2,268,639 1,169,624 51.56%
<br />1992 2,552,835 1,265,236 49.56%
<br />1993 2,829,202 1,406,296 49.71%
<br />— 1994 3,169,862 1,756,659 55.42%
<br />1995 3,551,957 1,870,934 52.67%
<br />1996 3,966,738 2,086,231 52.59%
<br />1997 4,400,087 2,723,025 61.89%
<br />1998 5,524,646 3,057,912 55.35%
<br />1999 5,252,474 3,411,332 64.95%
<br />— 2000 5,601,671 3,434,474 61.31%
<br />2001 6,056,426 3,541,596 58.48%
<br />The fund balance for the year increased $383,073 for a total ending fund balance of $3,924,669.
<br />Special Revenue Funds
<br />The Economic Development Authority Fund accounts for personal expenses of the City Council when acting as
<br />the Economic Development Authority.
<br />The Community Development Block Grant Fund accounts for expenditures associated with funds allocated
<br />through Anoka County from the Federal Government to fund allowable projects.
<br />The Program Recreation Fund accounts for the activities of the Recreation Department for self - supporting
<br />programs.
<br />Debt Service Funds
<br />Improvement Bonds Funds account for the accumulation of resources for debt service payments made on general
<br />obligation debt issued for local improvement projects. The Improvement Bonds of 1992A issue has been
<br />completely retired; therefore, this debt service fund was closed to the Improvement Refunding Bonds of 1999A
<br />Fund at the end of the year via a residual equity transfer.
<br />The Certificates of Indebtedness Fund accounts for debt service payments made on debt issued to finance capital
<br />purchases. These certificates are financed internally.
<br />The Public Project Revenue Bonds Fund and Public Project Refunding Bond Fund were established to account
<br />for debt service payments related to the construction of the City's fire hall and civic complex. The Public Project
<br />Revenue Bond issue has been completely retired; therefore, this debt service fund was closed to the Public
<br />Project Refunding Bond Fund at the end of the year via a residual equity transfer.
<br />The Lease Revenue Bond Fund was established to account for debt service payments related to the construction
<br />of the City's Civic Complex.
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