Agenda Packets - 1984/02/27 - Laserfiche WebLink

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1983 LONG-TERM FINANCIAL PLAN Page Eighteen retired through revenues of the utilities. As far as practicable capital improvements of these utilities should be financed by current revenues or by funds which have been set aside for future capital projects. Other capital improvements or capital facilities could be considered as a separate category. These could include, but are not limited to, park acquisition and development, municipal buildings, heavy equipment or other types of equipment. These may be financed in several ways and are listed in order of preference. 1) Grants in aid. These may include categorical grants from the County, State, or Federal government or other grants, s-irh ac. Revenue Sharing. 2) Pay as you go. This method uses the current years revenue. 3) Reserve Funds. Funds are set aside for a specific pro- ject or for replacement of a facility over a period of two or three years. 4) General Obligation Bonds. A municipality may issue bonds and pledge tax revenues to repay them. Minnesota law places a limit as to the amount of general obligation bonds which may be issued. This limit is called the legal debt margin. CAPITAL BUDGET The Capital Budget is defined by Section 7.05, Subdivision 5, of the Home Rule Charter is to provide: a summary on the basis of a five year period of the capital or money requirements for (outlined) programs. It shall list a priority for each anticipated investment in community facilities and balance this with a consideration of the availability of necessary revenues." 1. Capital Revenue Requirements 1984 - General Fund $133,650 Water Fund 120,650 Sewer Fund 14,850 Municipal State Aid 40,000 Special Assessments 31,500 1985 - General Fund $153,500 Water Fund 127,800 Sewer Fund 33,100 Municipal State Aid 40,000 Special Assessments 31,500