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637 The audited Funds discussed below had a cumulative fund balance of $45,269,139 at 12/31/2020. A review of those funds and a description of their intended sources and uses for budget years 2021 and 2022 are as follows: General Fund (101) – $3,397,990 The General Fund provides resources for financing general services and daily operations of the City including Administration, Finance/Insurance, Police, Fire, Public Works and Parks Maintenance. The fund balance represents the City’s working capital and reoccurring insurance pre–payment. Recycling Fund (225) – $4,953 This Special Revenue fund was established to manage recycling services and programs within the City limits. Recycling Grants from Hennepin and Ramsey counties fund these activities. Closing in 2021. Forfeiture Fund (230) – $54,331 This Special Revenue Fund’s revenues are derived from the sale of vehicles and other seized assets confiscated for driving under the influence and drug–related offenses. State statute restricts the use of these funds to supplement the Police Department’s operating fund for use in DUI/Drug–related enforcement, education and training. Fire Training Fund (240) – $7,828 The Fire Training Fund provides additional Police and Fire training outside of the General Fund Levy. Funding of this training is generated by the City’s Certified Fire Instructors providing training services to other jurisdictions. Closing in 2021. HRA Debt Service and HRA Project (various 300’s funds combined) – $1,181,309 These funds were established to account for the City’s HRA and TIF district projects. The TIF revenues are used to pay retire related debt associated with TIF project costs. HRA General Fund (301) – $120,218 The HRA oversees the commercial and residential redevelopment activities in the community. The HRA General Fund allows for the payment of administrative costs which are associated with advancing development within the City. Public Facilities Lease Revenue Bond Fund (311) – $568,505 The Public Facilities Lease Revenue Bond Fund was established to provide debt financing for the construction of the Public Works building and the Fire Station. The $5,530,000 debt issuance will be repaid with funds derived from the Public Facilities Debt Levy. The debt will be fully retired by 2024. Capital Equipment Fund (401) – $675,688 The Capital Equipment Fund is used for major capital equipment purchases (refer to the Capital Equipment Plan). Current funding is derived of Capital Improvement Levy, Road State aid and proceeds from the sale of existing equipment. Additional funding was established in 2016 and 2017 to phase out the transfers of Liquor operating profits and to provide additional support for replacing equipment used in daily operations. An annual levy increase of $25,000 was established in 2019 in recognition of inflationary impacts over time. CITY FUND BALANCES 62