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. City. of Mounds View, Minnesota <br /> illManagement Report, Page 18 <br /> IIIDebt Service Funds <br /> • The financial statements for the Debt Service Funds are presented in Statements 15 <br /> IIIand 16 of the 1985 Annual Financial Report. A debt service fund is designed to account <br /> for general long-term debt which is not recorded in other City funds. The City had two <br /> IIDebt Service Funds in 1985 as follows: <br /> 111 Fund Balance <br /> December 31 , <br /> 1 Fund 1985 1984 Decrease <br /> ill State Aid Bonds $ -0- $ 8,148 $ 8,148 <br /> Equipment Certificates -0- 1 ,684 1,684 <br /> Total $ -0- $ 9,832 $ 9,832 <br /> III <br /> Final debt payments had been made for both of the above funds. The City closed <br /> 111 these two remaining funds to the General Fund in 1985. <br /> IIICapital Project Funds <br /> Capital Project Funds are designed to account for acquisition or construction of <br /> IIIa'or capital projects or programs. The City had five such funds in 1985 as presented in <br /> IIIStatements 17 and 18 of the 1985 Annual Financial Report. The December 31 , 1985 and <br /> 1984 fund balances of the City's Capital Project Funds were as follows: <br /> ill <br /> Fund Balance (Deficit) Increase <br /> ill <br /> Fund 1985 1984 (Decrease) <br /> Park Improvement $ 5,587 $ 11,295 $ (5,708) <br /> Storm Water Management 277,582 234,769 42, 813 <br /> State Aid (MSA) 76,319 45,966 30, 353 <br /> 111 Water Systems Contributions 200,056 165,087 34,969 <br /> Greenfield Park 35 -0- 35 <br /> Total $ 559,579 $ 457, 117 $ 102,462 <br /> 0. <br /> il <br /> II 11111 <br /> il <br />