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Street Improvement Bond Fund (345/503) - $1,620,435 The Street Improvement Bond Fund revenue’s include special assessments and a portio n of Road improvement Levy. These proceeds are used to retire debt associated with road improvement bonds issued prior to 2009. The Fund balance will be used to service the annual debt service requirements. Debt obligations serviced by this fund will be fully retired by 2023. Silver Lake Road Bond Fund (365) - $1,470,614 The Silver Lake Road Bond Fund was established to provide debt financing for the Silver Lake Road improvements. The Fund balance above includes $1,290,049 of restricted funds related to the advance refunding of certain bond issues. The remaining Fund balance will be used to service the annual debt service requirements. Debt obligations serviced by this fund will be fully retired by 2024. Capital Equipment Fund (401) – $118,808 The Capital Equipment Fund is used for major capital equipment purchases (refer to the 5-Year Capital Equipment Plan). Current funding is derived from transfers of Liquor profits, Road State aid, Water Infiltration interest earnings and proceeds from the sale of existing equipment. Additional Funding was established in 2013 with a Capital Improvement Levy of $50,000. The 2016 Capital Improvement Levy has been increased to $80,990. Park Improvement Fund (501) - $187,642 The Park Improvement Fund provides for the renovation and refurbishing of the City’s park system. Current revenue sources are donations from private sources and park land dedication fees. The fund revenues are designated for park improvements. Tax Abatement Bond Fund (502) - $227,040 This fund provides funds to support the bond payments for the Tax Abatement Bonds issued in 2001 & 2009 for Park Improvements. The 2001 bonds will be retired in 2016, reducing annual debt service requirements by approximately $55,000. The 2009 bonds will be retired in 2025, eliminating the remaining annual debt service requirements of approximately $175,000. Revolving Fund (509) - $691,211 The Revolving Fund has served as the general improvement fund for miscellaneous projects. City Council has designated the use of this fund to projects such as park improvements, capital equipment purchases, computer technology, street improvements and contingencies for emergency expenditures. Building Improvement Fund (510) – ($33,805) The fund was established to provide funding for infrastructure and non-recurring maintenance costs for City owned buildings and structures throughout the Village. Funding of these projects was established in the 2013 Budget by transferring from the Community Center Fund and Liquor proceeds beginning in 2014. In 2016 the Building Improvement Levy of $73,000 will replace the use of Liquor proceeds. 2009 Street Improvement Bond Fund (512) - $384,309 The 2009 Street Improvement Bond Fund was established to provide debt financing for the 2009 street improvements. The $2,630,000 debt issuance will be repaid with funds derived from the Road Improvement Levy and special assessment collections. The debt will be fully retired by 2025. 72