04-27-2015 Council Packet - Laserfiche WebLink

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Nonmaior Governmental Funds Special Revenue Funds Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for particular purposes. The City maintained the following nonmajor Special Revenue Funds during the year. Economic Development Authority - established to account for the receipt and uses of funds for economic purposes. Cable TV Fund - established to account for activities relating to their Cable TV. Program Recreation - established to account for various self-supporting recreational programs. Debt Service Funds The Debt Service Funds account for the accumulation of resources for, and the payment of, interest, principal and related costs on general long-term debt. The City's Debt Service Funds account for four types of bonded indebtedness: General Debt Bonds - are repaid primarily from property taxes. Improvement Bonds - are repaid primarily from special assessments. Public Facility Lease Revenue Bonds - are repaid primarily from lease revenues received from the EDA leasing the buildings to the City of Lino Lakes and other tenants. Revenue Bonds - These bonds were issued to finance various improvements and will be repaid primarily from pledged revenues derived from the constructed assets. Capital Project Funds Capital Project Funds account for the acquisition or construction of major capital facilities other than those financed by Proprietary Funds and Trust Funds. The City maintained the following nonmajor Capital Project Funds during the year: Capital Improvement Projects - to account for the proceeds from Equipment Certificates. Capital Equipment Revolving Fund - to account for funds held to purchase capital equipment. Closed Bond Fund - to account for excess funds from matured bond issues. Street Reconstruction - to account for the financing of future reconstruction of City streets. Sealcoating - to account for money received from assessments and developer deposits for future street sealcoating projects. Surface Water Management - to account for the financing of surface water management and storm water improvements. Birch Street Hodgson Road Improvement Fund - to account for costs to improve the intersection at Birch Street and Hodgson Road. Tax Increment Funds - to account for development projects financed with tax increments. Nonmaior Governmental Funds (Continued) Capital Project Funds (Continued) Dedicated Parks - to account for the receipts and use of monies collected from dedicated parks fees. I35E Interschange Fund - to account for activity related to the 135E/CSAH 14 Interchange Reconstruction Project. Office Equipment Revolving Fund - to account for the receipt and use of funds for office equipment purchases. Legacy Woods Edge Improvement Fund - the Legacy Woods Edge Improvement fund accounts for construction costs related to infrastructure improvements in the Legacy Woods Edge development. Traffic Signal Fund - the Legacy traffic signal charge fund accounts for costs associated with construction of traffic signals in the City. Otter Lake Road Exension Fund - this fund accounts for activities relating to the construction performed in the extension of the Otter Lake Road. 21' Ave Extension Fund - this fund accounts for activities relating to the construction performed in the extension of 21' Avenue within the City. Permanent Funds Permanent Funds are used to report resources that are legally restricted to the extent that only earnings, and not principal, may be used for purposes that support the City's programs. The City maintained the following nonmajor Permanent Fund during the year. Foxborough Environment Fund - established to account for the use of funds received for environmental maintenance and improvements in the Foxborough area.