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1 <br />COUNCIL MEETING JANUARY 11, 1988 <br />and undesignated balances. <br />3. Maintain separate designations of remaining balances <br />based on commitments to specified debt service funds <br />and other designations as appropriate. <br />4. Allocate interest revenue to each designated and un- <br />designated balance of the Fund based on the average <br />cash balances of the various designated and undesign- <br />ated balances. <br />In December of each year, amounts shall be transferred to <br />various debt service funds to provide adequate funding for <br />the subsequent year's debt service based on the following: <br />Subsequent year's debt service requirement <br />Less anticipated balance and revenues available in debt <br />service fund: <br />Anticipated January 1 balance available (prior to transfer) <br />Anticipated assessment collections <br />Anticipated interest revenue <br />Anticipated other revenues <br />Anticipated transfer of Enterprise Fund Service fee <br />Total anticipated revenues <br />Debt service payments requiring connection and area <br />charge funding (scheduled transfer) <br />The City will estimate the required transfers from the <br />Connection and Area Charge Fund by October 1 of each year <br />(prior to completing the budget process for the ensuing <br />year). If adequate amounts are not anticipated in the <br />Connection and Area Charge Fund to meet the above transfer <br />requirements, the City will consider alternate funding <br />sources to fund debt service payments. <br />As the City determines that remaining connection and area <br />charges are no longer required to fund outstanding debt <br />service, such amounts may be transferred as directed by the <br />City Council for water and sewer system improvements and <br />repairs. <br />Adopted by the Lino Lakes City Council this eleventh day of <br />January, 1988. <br />PAGE 9 <br />143 <br />