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City of Mounds View, Minnesota • <br /> Management Report, Page 17 <br /> Recreational Activity Fund <br /> The Recreational Activity Fund had an accumulated deficit of $11 ,590 at December 1111 <br /> 1985. This fund deficit is an improvement from the prior year of $9,338 as follows: <br /> Actual revenue over budgeted revenue $ 38, 104 <br /> Actual expenditures over budget (28,766) <br /> Net increase in fund balance $ 9,338 <br /> The accumulated deficit of $11 ,590 at December 31 , 1985 is primarily the result of <br /> an unbudgeted capital outlay purchase in 1982 (warming houses) . Progress is being made <br /> to eliminate the accumulated deficit. Upon final elimination of the deficit (and <br /> corresponding accumulation of each) , the City should take action to approve the <br /> repayment of the $24,000 loan from the Silver Lake Woods Fund. <br /> Forestry Fund <br /> The Forestry Fund was established to account for the financial activity associated <br /> with removal and re lacement of the City's diseased trees. This activit has been • <br /> P Y <br /> funded by: <br /> • Local property taxes. <br /> • Direct charges to property owners. <br /> • State grants. <br /> The State funding of the program has been eliminated and therefore the City now <br /> funds this operation through direct charges to property owners and a local property tax. <br /> The financial activity of this fund has been reduced from prior years. The remaining <br /> fund balance of $20, 701 is designated for tree removal and replacement. <br /> ID <br />