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* -A <br />mm <br />City of Orono <br />Permanent Improvement Revolving Fund (PIR) <br />Changes in Fund Balance <br />•• The einetgeDcy 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 arc 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 use <br />use in a catastrophic situation or for temporary funding in the form of short-tenn loans to other accounts or funds. <br />A-19 <br />Actual Estimated Estimated <br />Revenues 1999 2000 2001 <br />Actual $140,815 $119,380 $123,980 <br />Budget 116,750 119,380 _____123,980 <br />Actual Revenues Over (Under) <br />Budgeted Revenues 24,065 0 0 <br />Exnenditures <br />Actual $75,530 $70,450 $70,450 <br />Budget 70,450 70,450 70,450 <br />Actual Expenditures Over (Under) <br />Budgeted Expenditures <br />Transfers In (Out) <br />5,080 0 0 <br />General Fund - Storm Wtr Plan/Projeets 0 0 0 <br />Stubbs Bay Construction Fund 0 0 0 <br />Excess (deficiency) of revenue <br />over expenditures $65,285 $48,930 $53,530 <br />Fund Balance Beginning of Year 694,030 759,315 808,245 <br />Fund Balance End of Year $759,315 $808,245 $861,775 <br />Fund Balance Components <br />Designated for: <br />Infrastructure (road^ridge) projects $134,045 139,045 144,045 <br />Infrastructure (storm drainage) projects 108,685 113,685 118,685 <br />Storm water management plan 0 0 0 <br />Emergency contingencies 325,000 **325,000 **325,000 <br />Undesignated 191,585 230,515 274,045 <br />Total Fund Balance $759,315 $808,245 $861,775