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2016 Road Improvement Construction Fund (525) – ($68,773) The 2016 Street Improvement Project Fund accounts for the construction costs associated with the reconstruction of Stinson Boulevard between 37th Avenue and Silver Lane, sidewalk improvements, intersection improvements and street lighting improvements. The deficit fund balance will be eliminated in 2016 with the receipt of bond proceeds. Community Services/City Hall Fund (601) - $15,816 The Community Services/City Hall Fund is used to fund the operation and maintenance of the City Hall building. Funding is comprised of annual rent charges of $125,000 from I.S.D. #282 for the Community Services portion of the building and a rent transfer from the General Fund for the segment of the building used for City Hall. Budgeted rent transfer for 2016 is $81,800. Fund balance transfers will prospectively provide for City Hall capital improvements via the Building Improvement Fund. Water & Sewer Fund (701) - $4,855,860 The Water & Sewer Fund is an enterprise fund used to provide water and sewer services to the community. Funding for operation and maintenance of the system is provided on a user-fee basis, which is based on consumption. Storm Water Fund (702) - $76,646 The primary source of revenues for this fund is the storm water charges. These charges are currently being used to retire bonds issued in 2000 for a major storm sewer improvement. Once Bonds are retired in 2015 these charges will be available to support storm water maintenance costs along with providing funds for Debt Levy relief in connection with the annual infrastructure improvements. Storm Water Bond Fund (703) - $142,768 The Storm Water Bond Fund was established to provide debt financing for storm sewer improvements along 29th Avenue. The $1,610,000 debt issuance will be repaid with funds derived from storm water charges. The debt will be fully retired in 2015 and this will fund will be closed. Water Filtration & Purification Fund (704) - $4,637,330 The Water Filtration & Purification Fund was established and is dedicated to provide safe drinking water to the residents. The monies in this fund were derived from a cash settlement that the City received from the United States Army and Honeywell as damages for contaminating the City’s water supply. The original ten- year agreement which provided 90% funding for operation and maintenance of the carbon filtration plant has expired. A significant fund balance is maintained to address any future needs related to contamination. Liquor Fund (705) - $2,113,362 The Liquor Fund is an enterprise fund used to account for operations from the City’s municipal liquor stores. Profits from operations are directed to capital equipment purchases and reducing the general fund levy. The fund balance is substantially comprised of cash, inventory, buildings, and fixtures. Severance Fund (901) - $26,972 (Cash) The Severance Fund is a restricted use fund that provides funding for employee personal leave and comp- time severance pay upon their termination of employment with the City. The City’s liability for 2014 totaled $661,966. The City established an annual fund transfer in 2014 to meet severance obligations as they come due. 74