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Public Utilities Infrastructure (450) – $10,104,981 The Public Utilities Fund was established with 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 been long–expired. In 2016 the City made a claim under the existing agreement for damages due to a previously undetected contaminant (1.4 Dioxin). The Army and the City working together reached a settlement in the fall of 2016. The settlement will provide funding for an additional treatment process to remove the contaminant from the drinking water. In connection with this recent settlement the Water Filtration Fund was closed and its assets were transferred for utility operating and capital needs. The 2016 Army settlement proceeds along with Water Filtration transfer proceeds established the Utilities Infrastructure Fund. The Utilities Infrastructure Fund will be the capital fund used prospectively to fund capital needs of the water, sanitary sewer and fiber optic utilities. Park Improvement Fund (501) – $164,151 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 and HSIP Tax Abatement (502/536) – $245,893 This fund provides funds to support the bond payments for the Tax Abatement Bonds issued in 2001 & 2009 for Park Improvements. The 2001 bonds were 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) – $894,100 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) – $210,872 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. Street Improvement Bond Fund (various 500’s funds combined) – $4,017,709 The Street Improvement Bond Fund was established to provide debt financing for the street improvements. The debt issuance will be repaid with funds derived from the Road Improvement Levy, special assessment collections, and debt reduction transfers. Street Improvement Construction Fund (various 500’s funds combined) – $1,125,760 This fund accounted for the costs associated with the feasibility and design costs, mill and overlays, sidewalk improvements, intersection improvements, street lighting improvements and construction costs associated with planned street improvements. 64