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2016 Annual Report • Finance Department • St. Anthony Village, Minnesota <br /> <br /> <br /> <br />16 <br /> <br />V. Long Term Financial Management <br />ESTABLISHED UTILITIES INFRASTRUCTURE FUND <br />The Water Filtration Fund existed as the predecessor improvement fund dealing with water <br />containments sourced to the former TCAAP site. In 2016 this fund was determined to have <br />completed its task in that the GAC plant was built and carbon treatment costs have been <br />subsidized for many years. The main theme in closing the Water Filtration Fund was to move <br />assets to actively managed funds. <br /> <br />The following steps were taken to create this proposed <br />fund: <br /> Close the existing Water Filtration Fund and <br />transfer its assets to the Water/Sewer Utility Fund, <br />Capital Equipment Fund, Building Improvement Fund <br />and the newly created Utilities Infrastructure Fund. <br /> Designate Army settlement funds for plant <br />construction to the newly created Utilities Infrastructure <br />Fund. <br /> Reassign the Utility equipment needs within the <br />Capital Equipment Fund to the newly created Utilities <br />Infrastructure Fund. <br /> Reassign the Plant and Lift Station’s building <br />needs within the Building Improvement Fund to the <br />newly created Utilities Infrastructure Fund. Provided <br />funding to the Building Improvement Fund to house the <br />utility’s fleet and heavy equipment at the Public Works <br />building. <br /> Include the Utility infrastructure needs identified <br />in prior budgets (previously supported by the Water Filtration Fund or Utility fund) in <br />the newly created Utilities Infrastructure Fund. <br /> The revenue sources to sustain the utility capital needs prospectively will be Utility Fund <br />transfers of annual depreciation, water and sewer connection fees, interest income, grant <br />proceeds and bond proceeds as needed. <br />