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Permanent Improvement Revolving Fund (PIR) <br />Fund Balance Components <br />Assigned for: <br /> Police Equipment Purchases 216,654 200,000 100,000 <br /> Emergency Contingencies ** 325,000 325,000 325,000 <br /> Future Construction Projects 929,959 1,107,483 1,214,315 <br />Total Fund Balance 1,471,613 1,632,483 1,639,315 <br />** The emergency contingency account is considered fully funded at $325,000. <br />The City established the road/bridge account in 1987 with resolution #2210. The funds came from interest earned on MSA construction monies <br />which were not then needed for MSA projects. Expenditures from the account are restricted to road and bridge projects, as approved by Council. <br />The City established the emergency contingency account with resolution #941, and amended with resolution #2669 in 1989. The account is restricted for u <br />use in a catastrophic situation or for temporary funding in the form of short-term loans to other accounts or funds. <br />Capital Project Funds <br />City of Orono <br />Changes in Fund Balance <br />City of Orono - 2021 Budget Page 54