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CITY FUND BALANCES <br />The audited Fund Balances for City operations at the end of 2011 totaled $17,568,234. A review of <br />those funds and a description of their intended use for budget years 2012 and 2013 are listed <br />below. <br />General Fund (101) - $1,624,700 <br />The General Fund provides resources for financing general services and daily operations of the <br />City including Administration, Finance /hisurance, Police, Fire, Public Works and Parks <br />Maintenance. <br />The fund balance provides the City's Working Capital, Insurance Reserves, Contract Insurance <br />Reserves/ Deductibles, Unemployment Reserves, and funds Pre -Paid Insurance requirements. <br />MSA Road Project Fund (2051- $35,938 <br />This fund was established for improvements to Streets that are designated as Minnesota State Aid <br />Roads. The improvements are completed therefore the fund was closed in 2012. The remaining <br />fund balance was used to retire the deficit fund balance in the 2009 Street Improvement Fund and <br />a contribution to the 2013 Street Improvement Fund. <br />MSA Bond Fund (207) - $74,747 <br />This is the Debt Service associated with the State -Aid Street Improvement Bonds issued in 2000. <br />The debt will be retired by 2015. <br />Recycling Fund (225) - ($11,817) <br />This Special Revenue fund's was established to manage recycling services and programs within <br />the City limits. Grants from Hennepin and Ramsey Counties provide the primary funding for <br />recycling. The fund revenues are committed sources for the City's annual Clean -up Day costs. The <br />deficit fund balance will be retired by the share Hennepin County Grant proceeds not paid out as <br />rebates and General Fund Transfer. <br />Forfeiture Fund (230) - $23,622 <br />This Special Revenue Fund's revenues are derived from the sale of vehicles and other seized assets <br />confiscated for driving under the influence and drug- related offenses. State statute restricts the use <br />of these funds to supplement the Police Department's operating fund for use in DUI /Drug- related <br />enforcement, education and training. <br />Fire Training Fund (240) - $3,422 <br />The Fire Training Fund provides additional Police and Fire training outside of the General Fund <br />Levy. Funding of this training is generated by the City's Certified Fire Instructors providing <br />training services to other jurisdictions. <br />HRA General Fund (301) - ($167,651) <br />The HRA oversees all commercial and residential redevelopment activities in the community. The <br />HRA General Fund allows for the payment of administrative costs which are associated <br />M <br />