1981 CAFR - Laserfiche WebLink

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CITY OF ST. ANTHONY COMMENTS Capital Project Funds These funds are used to account for resources to be used for the acquisition of capital facilities by the City. State Aid Construction Fund - Gasoline tax collections apportioned to the City from the State of Minnesota for street construction are accounted for in this fund. The account receivable of $300,260 from the State of Minnesota is the City's construction allotment balance at December 31, 1981, which is unencumbered and available for approved projects. Special Assessment Funds The Special Assessment Funds are established to account for assessments levied to finance improvements or services deemed to benefit the properties against which the assessments are levied. Revolving Fund - This fund provides temporary financing of construction projects and the subsequent collection of assessments against benefited property owners. Debt Service Fund - This fund accounts mainly for the collection of assessments against benefited property owners and expenditure of assessment collections for the payment of bonds and interest, issued to finance the cost of improvement projects. The appropriated fund balance represents the interest on bonded indebtedness payable in future years. General Debt Service Fund This fund has accumulated resources, primarily general property taxes, for the redemption of certificates of indebtedness and interest thereon. These certificates are completely retired and the remaining funds were transferred to the General Reserve Fund, closing the fund. Liquor Fund This fund accounts for the operation of the City -owned liquor stores. Detailed statements by stores are included in this report as additional aids in reviewing the results of operations. Following is a condensed summary of the liquor operation for 1981 and 1980. -3- .DRI.., $. A-GE—N a DO