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City Fund Balances <br />The audited Fund Balances for City operations at the end of 2008 totaled <br />$14,478,787. A review of those funds and a description of their intended <br />use for budget years 2009 and 2010 are listed below. <br />General Fund - $1,440,504 <br />The General Fund provides resources for financing general services and daily <br />operations of the City including Administration, Finance/Insurance, Police, Fire, Public <br />Works and Parks Maintenance. <br />The fund balance has been committed to support expenditures for: <br />1) $1,296,299 <br />Working Capital <br />2) $ <br />50,000 <br />Insurance Reserves <br />3) $ <br />15,000 <br />Contract Insurance Reserves/Deductibles <br />4) $ <br />28,000 <br />Unemployment Reserves <br />5) $ <br />51,205 <br />Pre -Paid Insurance <br />MSA Road Project Fund - $38,645 <br />This fund is restricted to provide funding for reconstruction or renovation/design of <br />streets and sidewalks that are designated as Minnesota State Aid Road Projects. <br />Revenues are derived from State Aid funding of the projects. The fund balance is used <br />to fund start up costs for future MSA projects and must be spent on the improvements of <br />MSA designated roads. <br />MSA Bond Fund - $2,967 <br />This fund provides funds to support the bond payments for the State -Aid Street <br />Improvement Bonds issued in 2000. <br />Recycling Fund - ($10,498) <br />This fund is a restricted use fund that provides funding for recycling services and <br />programs within the City limits. A portion of the Assistant City Manager's salary is <br />charged to this fund. Grants from Hennepin and Ramsey Counties provide the primary <br />funding for recycling. The fund is also committed as a revenue and expenditure source <br />for the City's annual Clean-up Day. <br />Forfeiture Fund - $70,779 <br />This fund is a self-sustaining restricted use fund comprised of money generated by the <br />sale of vehicles and other seized assets confiscated for driving under the influence and <br />drug-related offenses. By statue, these funds are to be used to supplement the Police <br />Departments operating fund for use in DUI/Drug-related enforcement, education and <br />training. <br />106 <br />