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CITY OF ST. ANTHONY <br />COMMENTS <br />Capital Project Funds <br />These funds are used to account for resources to be used for the <br />acquisition of capital facilities by the City. <br />State Aid Construction Fund - Gasoline tax collections apportioned to the <br />City frOmi the State of Minnesota for street construction are accounted <br />for in this fund. The account receivable of $260,349 from the State of <br />Minnesota, is the City's construction allotment balance at December 31, <br />1980, of which $210,190 is unencumbered and available for approved <br />projects. <br />Capital Improvement Fund - This fund was established to account for <br />purchases of capital outlay items to be used by the City's maintenance <br />department. During the year ended December 31, 1980 the fund was closed <br />and the remaining funds transferred to the General Fund. <br />Special Assessment Funds <br />The Special Assessment Funds are established to account for assessments <br />levied to finance improvements or services deemed to benefit the properties against <br />which the assessments are levied. <br />Revolving - This fund provides temporary financing of construction <br />projects and the subsequent collection of assessments against benefited <br />property owners. <br />Debt Service - This fund accounts mainly for the collection of <br />assessments against benefited property owners and expenditure of <br />assessment collections for the payment of bonds and interest, issued to <br />finance the cost of improvement projects. The appropriated fund <br />balance represents the interest on bonded indebtedness payable in <br />future years. <br />General Debt Service Fund <br />This fund has accumulated resources, primarily general property taxes, for <br />the redemption of certificates of indebtedness and interest thereon. These <br />certificates are completely retired and the fund balance of $4,647 is <br />unappropriated. <br />Liquor Fund <br />This fund accounts for the operation of the City -owned liquor stores. <br />Detailed statements by stores are included in this report as additional aids in <br />reviewing the results of operations. Following is a condensed summary of the liquor <br />operation for 1980. <br />-3- <br />..-- -- <br />3- <br />..w s,E­N.�l <br />