2010 budget book - Laserfiche WebLink

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Road Improvement Construction Fund - $293,826 This fund provides record keeping and funding for the reconstruction of City streets. The fund receives proceeds from bond sales and payments are made to contractors, consultants and engineers for specific street improvement projects. Revolving Fund - $5,384 The Revolving Fund is the fund, which serves as general improvement fund. Each year the City Council dedicates the use of this fund to various projects such as park improvements, capital equipment purchases, computer technology, street improvements and contingencies for emergency expenditures. Funding is primarily from the transfers of general fund reserves generated from cost effective budgeting and controls. Building Improvement Fund - $1,815 The Building Fund is a relatively new fund, which serves as an improvement fund for City buildings. The fund was established in 2004 to provide funding for infrastructure and non-recurring maintenance costs for City owned buildings and structures throughout the Village. Funding is primarily from the transfers from the General Fund and profits from Liquor Operations. 2009 Street Improvement Construction Fund - ($153,992) This fund provides record keeping and funding for the reconstruction of Chandler Drive and Foss Road. The fund received proceeds from the sale of the 2009A - $2,630,000 improvement bond. From the proceeds, payments are made to contractors, consultants and engineers for the road improvement project. Community Services/City Hall Fund - $52,362 The Community Services/City Hall Fund is used to fund the operation and maintenance of the City Hall building. Funding is comprised of annual rent charges of $100,000 from I.S.D. #282 for the Community Services portion of the building and a rent transfer from the General Fund for the segment of the building used for City Hall. The $2,650,000 bonds issued in 1995 were paid off in February of 2004 and all financial obligations for the building have been paid in full. Water & Sewer Fund - $3,638,498 The Water & Sewer Fund is an enterprise fund used to provide water and sewer services to the community. Funding for operation and maintenance of the system is provided on a user -fee basis, which is based on consumption of water. In 1998, reserves from the Water and Sewer Fund provided funding for the restoration of the Water Tower at 33`d and Silver Lake Road. In addition, $350,000 was dedicated in 2000 for water main improvements to the Silver Lake Road Bridge Project.