Agenda Packets - 2024/05/13 - Laserfiche WebLink

Home Browse Search

NONMAJOR GOVERNMENTAL FUNDS The statements that follow are to provide further detail and support additional analysis for the City's nonmajor special revenue, debt service, and capital projects funds. SPECIAL REVENUE FUNDS Nonmajor special revenue funds are used to account for specific revenue sources that are restricted or committed to expenditures for specified purposes. Nonmajor special revenue funds presently established are as follows: Cable Television Fund — This fund accounts for franchise taxes for services provided over the cable system and is restricted by the franchise agreement to the operation of the North Suburban Cable Commission and to local public service broadcasting. Police Forfeiture Fund — This fund accounts for usage of funds acquired under federal and state Forfeiture/Equitable Sharing Program. Lakeside Park Fund — This fund accounts for the operation of a park under a cooperative agreement with the City of Spring Lake Park. Recycling Grant Fund — This fund accounts for a grant from Ramsey County to operate a recycling program within the City. Tax Increment Financing District No. 6 — This fund accounts for tax increments collected from a housing project within the district that are used to retire the developer note. DEBT SERVICE FUND The nonmajor debt service fund accounts for the accumulation of resources and payment of bond principal and interest and related costs on long-term debt. G.O. Capital Improvement Plan Bonds of 2017A — This fund accounts for the debt service activity related to bonds issued to construct the public works maintenance facility. CAPITAL PROJECTS FUND The nonmajor capital projects fund is used to account for the acquisition and construction of major capital facilities and capital equipment other than those financed by proprietary funds. Park Dedication Fund — This fund accounts for park land dedication funds paid when a major subdivision is initiated and will be used for future park improvements.