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Equipment Certificates Fund (402) – $58,042 This fund supports the bond payments for the Equipment Certificates issued in 2016 for the purchase of a fire truck. The 2017 bonds will be retired in 2027. Public Utilities Infrastructure (450) – $3,819,952 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. 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) – $71,163 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) – $404,663 This fund supports the bond payments for the Tax Abatement Bonds issued in 2009 for Park Improvements and Tax Abatement Bonds issued in 2016 for sidewalk and intersections safety improvements. The 2009 bonds will be retired in 2025, eliminating annual debt service of approximately $175,000. The 2016 bonds will be retired in 2026, eliminating the annual debt service of approximately $98,000. Revolving Fund (509) – $(142,490) 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. In 2020 MSA funds were received which eliminated the 2019 deficit fund balance. Building Improvement Fund (510) – $510,120 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. In 2019 an annual $5,000 increase in the levy was established in recognition of inflationary impacts over time. Street Improvement Bond Fund (various 500’s funds combined) – $4,173,104 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) – $358,244 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. 62