Agenda Packets - 1987/01/26 - Laserfiche WebLink

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November 24, 1986 Page 8 + Those funds which could be utilized for Park Improvements have previously been discussed. They are: Special Projects, Revolving Improvement and Silver Lake Woods Improvement Funds. These Funds as previously mentioned have been dedicated to special purposes and unless a policy change is made by Council could not be used extensively for Park Improvement projects. 3. Dedicate the year-end General Fund balance to the Park nodiration Account. The City Council has dedicated the year end General Fund balance to maintain Fund Balance designations for Cash Flow, Contingencies, Compensated Absences and Committed Contracts. This was authorized by Chapter 28 of the City Code which was adopted December 9, 1985. In addition approximately $60,000 was committed to the Computer System purchase and implementation for Year 2 (1987). 4. Utilize interest from the Special Projects Fund. Use of the Special Projects Fund was covered previously in this memorandum. It's use for building up a Park Improvement Fund is not viable as the interest is fully used to finance current capital items. 5. Utilize monies from Park Dedications on a third bas is. with two-thirds of all Park This is a viable option. Park Dedication fees can not be predicted as to amount or when received. I would suggest that 2/3 be used for building up the Fund and look to other financing sources for current Park Improvement projects. 6. This is certainly a viable option. It would stretch available dollars. A matching funds program could be established in which the City match dollars raised by foundations for specific projects. 7. Corporate gifts from local and s Definitely a viable option. 8. Explore any other City Fund dollars, including Revenue At the present time there are not any other financing sources