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99 <br /> Liquor Fund ($1,056,911) <br /> The Liquor Fund is an enterprise fund used to account for operations from the City's <br /> municipal.liquor stores. Profits from operations are directed to capital equipment purchases <br /> and park improvements. <br /> The majority part of the fund balance is inventory and reserves to support the $940,000 <br /> Liquor Revenue Bonds issued in 1997 to build a new off-sale liquor store on Silver Lake <br /> Road. Annual debt payments through 2012 total $95,000 per year. <br /> Increased sales over the last three years have contributed to increased profits and an <br /> improved fund balance. <br /> Severance Fund ($236,420) <br /> The Severance Fund is a restricted use fund that provides funding for employee vacation, <br /> sick leave and comp-time severance pay upon their termination of employment with the <br /> City. <br /> The City's year-end liability for 1999 totaled $344,350. Since it is highly unlikely that all <br /> employees would leave the City at the same time, the City Council has opted not to fund <br /> the entire liablity. <br /> • <br />