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2012 Street Improvement Construction Fund (517) - $ 12,661 <br />This fund accounted for the costs associated with the reconstruction of Belden Drive, Coolidge Street from <br />34th Avenue NE to 36th Avenue NE and 35th Avenue NE between Harding to Belden. The reconstruction <br />costs were funded by the 2012A - $2,195,000 improvement bond. The fund balance will be used to pay any <br />final project expenses and retire the retainage held; the remaining funds will then be transferred to the <br />associated debt service fund. <br />2012 Road Improvement Bond Fund (518) - $309,708 <br />The 2012 Street Improvement Bond Fund was established to provide debt financing for the 2012 street <br />improvements. The $2,195,000 debt issuance will be repaid with funds derived from the Road <br />Improvement Levy, special assessment collections and fund balance. The debt will be fully retired by 2028. <br />2013 Street Improvement Construction Fund (519) - $289,081 <br />This fund accounted for the costs associated with the feasibility and design cost associated with the <br />planned reconstruction of Edward Street from 35th Avenue NE to 36th Avenue NE and 36th Avenue from <br />Roosevelt Street to Silver Lake Road. The deficit fund was eliminated upon the issuance of the 2013B - <br />$1,775,000 improvement bond and prepaid special assessments. These proceeds will be used to pay project <br />expenses; upon completion the remaining funds will then be transferred to the associated debt service <br />fund. <br />2013 Road Improvement Construction Fund (520) - $114,063 <br />The 2013 Street Improvement Bond Fund was established to provide debt financing for the 2013 street <br />improvements. The $1,000,000 debt issuance will be repaid with funds derived from the Road <br />Improvement Levy, special assessment collections and fund balance. The debt will be fully retired by 2029. <br />2014 Street Improvement Construction Fund (521) - ($138,667) <br />This fund accounted for the costs associated with the feasibility and design cost associated with the <br />planned reconstruction of Penrod Lane NE from 36th Avenue NE to 37th Avenue NE; Edgemere Avenue NE <br />from Penrod Lane NE to Chelmsford Road NE; and Wendhurst Avenue NE from Penrod Lane NE to <br />Chelmsford Road NE. The deficit fund was eliminated upon the issuance of the 2014A - $2,070,000 <br />improvement bond and prepaid special assessments. These proceeds will be used to pay project expenses; <br />upon completion the remaining funds will then be transferred to the associated debt service fund. <br />2014 Road Improvement Construction Fund (522) - N/A <br />The 2014 Street Improvement Bond Fund was established to provide debt financing for the 2014 street <br />improvements. The $2,070,000 debt issuance will be repaid with funds derived from the Road <br />Improvement Levy, special assessment collections and fund balance. The debt will be fully retired by 2030. <br />Community Services/City Hall Fund (601) - $36,559 <br />The Community Services/City Hall Fund is used to fund the operation and maintenance of the City Hall <br />building. Funding is comprised of annual rent charges of $125,000 from I.S.D. #282 for the Community <br />Services portion of the building and a rent transfer from the General Fund for the segment of the building <br />used for City Hall. Budgeted rent transfer for 2015 is $78,650. Fund balance transfers will prospectively <br />provide for City Hall capital improvements via the Building Improvement Fund. <br />Water & Sewer Fund (701) - $4,461,365 <br />The Water & Sewer Fund is an enterprise fund used to provide water and sewer services to the community. <br />Funding for operation and maintenance of the system is provided on a user-fee basis, which is based on <br />consumption. <br />67