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<br /> <br />Community Services/City Hall Fund (601) – $40,979 <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 2016 is $81,800. Fund balance transfers will prospectively <br />provide for City Hall capital improvements via the Building Improvement Fund. <br /> <br />Water/Sewer/Water Plant Fund (701) – $16,669,114 <br />The Water/Sewer/Water Plant Fund is an enterprise fund used to provide water and sewer services to the <br />community. Funding for operation and maintenance of the system is provided on a user–fee basis, which is <br />based on consumption. The Water Plant was established with a cash settlement that the City received from <br />the United States Army and Honeywell as damages for contaminating the City’s water supply. <br /> <br />Liquor Fund (705) – $2,184,515 <br />The Liquor Fund is an enterprise fund used to account for operations from the City’s municipal liquor <br />stores. Profits from operations are directed to reducing the general fund levy. The fund balance is <br />substantially comprised of cash, inventory, buildings, and fixtures. <br /> <br />Stormwater Utility Fund (706) – $8,015,951 <br />In 2015 the Stormwater Improvement and Debt Service Funds were closed upon the retirement of <br />stormwater improvement bonds. The proceeds from the closing of these funds established the Stormwater <br />Utility Fund. Prospectively the primary source of revenues for this fund is the stormwater charges. These <br />charges are used for stormwater maintenance costs, stormwater capital equipment, and flood control <br />projects along with providing funds for Debt Levy relief in connection with the annual infrastructure <br />improvements. <br /> <br />Severance Fund (901) – $159,244 (Cash) <br />The Severance Fund is a restricted use fund that provides funding for employee personal leave and comp– <br />time severance pay upon their termination of employment with the City. The City’s liability for 2018 totaled <br />$657,594. The City established an annual fund transfer in 2014 to meet severance obligations as they come <br />due. <br /> <br />65