12-12-2022 Council Packet - Laserfiche WebLink

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Capital Project Funds – Capital project funds are used to account for the financing of street projects, equipment replacement, public safety equipment, and facility rehabilitation or renovation. Revenue sources are provided mainly through transfers, special assessments, and bond sales. • Municipal State Aid (MSA) Fund – The MSA Fund provides for the improvement of designated state aid streets which are funded by State of Minnesota funds. • Improvement & Equipment Outlay Fund – The Improvement & Equipment Outlay Fund provides for the purchase of equipment and the construction or renovation of City facilities. • Facilities Fund – The facilities fund was established in 2021 to provide for the development, renovation and repairs of City buildings. • Permanent Improvement Revolving (PIR) Fund – The PIR Fund is designed to provide temporary financing of projects until permanent financing is available. • Community Investment Fund – The Community Investment Fund provides funding for projects of citywide importance that have no other funding source. Enterprise Funds – Enterprise Funds are used to account for the business type activities of the City. These include the following funds: Water, Sewer, Cable TV, Stormwater, and Recycling. • Water – The Water Fund is used to account for the City’s utility. The system consists of two water towers, three wells, 18 miles of water mains, and serves 1,087 customers. • Sewer – The Sewer Fund is used to account for the City’s sewer utility. The system consists of 47 miles of sewer lines and 46 pumping stations, and serves 2,287 customers. The largest expense for the fund is a charge from the Metropolitan Council Environmental Services to pay for their collector lines and the treatment of the wastewater. • Cable TV – The Cable TV Fund was created to account for revenues collected as part of the franchise agreement between the City and Mediacom. • Stormwater – The Stormwater Fund is used to account for the City’s stormwater utility. The system consists of culverts, collection ponds, and drainage ways. The utility was created in order to provide funding needed to comply with State and Federal mandates regarding stormwater. All properties within the city are charged a stormwater fee.