2008 CAFR - Laserfiche WebLink

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The General Fund is the chief operating fund of the City of St. Anthony, Minnesota. At the end of the current fiscal year, unreserved fund balance of the General Fund was $1,389,299, while total fund balance reached $1,440,504. As a measure of the General Fund's liquidity, it may be useful to compare both unreserved fund balance and total fund balance to total fund expenditures. Unreserved fund balance represents 28.2% of total General Fund expenditures and total fund balance represents 29.2% of that same amount. During the current fiscal year, the fund balance of the General Fund increased by $2,145. The City's Water Filtration and Purification Fund had a total fund balance of $5,450,852. The Street Improvement Debt Service Fund decreased by $718,187 as annual debt payment requirements exceeded assessment collections, property tax collections, bond proceeds and interest. The HRA Debt Service Fund increased by $130,862 as the annual debt service requirement exceeded the revenue collected. The Street Improvement Projects Fund increased by $385,017 as the construction costs incurred was less than the bond proceeds and other funding sources. The HRA Projects Fund decreased $40,901 to a balance of $907,400. The key factor in this decrease was the increase in payments made for developer incentives related to the Silver Lake Village Redevelopment. The Storm Water Improvement Fund increased $77,386 as a result of the funding sources for the Water Reuse Project exceeded the year-to-date construction costs. The Silver Lake Road Project Fund increased $204,951 as a result of the year-to-date construction costs are less than the funding sources for the project. Non -major Special Revenue Funds decreased $42,196 to a balance of $125,993 Non -major Debt Service Funds had a total fund balance of $272,533, all of which is reserved for the payment of debt service. The net decrease in fund balance during the current year in the nonmajor debt service funds was $28,029. Non -major Capital Project Funds had a total fund balance of $24,237, a decrease of $260,726. Proprietary funds. The City of St. Anthony, Minnesota's proprietary funds provide the same type of information found in the government -wide financial statements, but in more detail. Unrestricted net assets of the liquor operations and water and sewer fund at the end of the year amounted to $1,042,856. The total net assets for each fund were: Liquor— $1,986,795; Water and Sewer - $3,921,735. 22