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The road improvement levy was reduced by $54,106 with the pay-off of the 1997A road <br />improvement bond. In addition, it is anticipated the City will, in the near future, pay-off <br />its 1999A and the 2003D road improvement bonds. The funding available for the pay- <br />offs is from a combination of pre -payments of special assessments and interest earnings <br />on the construction funds. <br />Key Financial Management <br />One of our 2007 goals was to update the City's Key Financial Management Plan. The <br />purpose of this planning is to identify and prioritize key financial issues that the Village <br />will have over the next several years. Extensive financial plarming is done to allocate <br />resources in the replacement of our infrastructure, improvements or replacement of city <br />buildings, capital equipment needed by each department and provides the City with a <br />long range plan which identifies the funding source for each project. <br />This planning helps the City move forward with its projects, allows the City Council to <br />make financial decisions and allocate funding based on the need for both short and long <br />term projects. <br />Capital Equipment Purchases - Appropriation = $450,000 <br />Traditionally, revenue for funding capital equipment has come from various sources <br />including: general fund/capital equipment transfers, interest earnings, trade/sale of <br />existing equipment, water/sewer transfers and liquor profits. In 2008, Council has <br />appropriated $450,000 to fund the Capital Equipment purchases. A review of the <br />revenue and expenditures is as follows: <br />Revenues: <br />Liquor Operations Profits $200,000 <br />MSA Revolving Funds $150,000 <br />Water Filtration Interest Earnings $ 50,000 <br />Fund Balance $ 50,000 <br />Total Available $450,000 <br />Expenditures $450,000 <br />Police: <br />Two Squad Cars <br />$ <br />50,000 <br />Tear Down & Build New Squads <br />$ <br />5,000 <br />Equipment Replacement/Squad Cars <br />$ <br />5,500 <br />CrimeNet/State Computers Upgrades <br />$ <br />8,000 <br />Police Bikes <br />$ <br />3,000 <br />Record Management System Upgrade <br />$ <br />10,000 <br />MP5's — Firearms <br />$ <br />5,000 <br />Radar Replacement <br />$ <br />4,000 <br />CSO — Vehicle <br />$ <br />30,000 <br />Defibrillator <br />$ <br />3,000 <br />Total Police <br />$123,500 <br />