08-14-1995 Council Packet - Laserfiche WebLink

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City of Orono Permanent Improvement Revolving Fund (PIR) Changes in Fund Balarx:e Revenues Property taxes Special assessments Interest on investments Miscellaneous Total Revenue Expenditures Professional services Total Expenditures Transfers In From General Fund For storm water managment plan For infrastructure (storm drainage projects) Excess (deficiency) of revenue over expenditures Fund Balance Beginning of Year Fund Balance End of Year Fund Balance Components Designated for: Infrastructure (road/bridge) projects Infrastructure (storm drainage) projects Storm water managment plan Emergency contingencies Total Fund Balance Actual Estimated Estimated 1994 1995 1996 $230 $0 $40,000 17,768 13,380 11,940 26,750 27,985 30,250 16,284 0 0 61,032 41,365 82,190 37,467 0 0 ~'^467 0 0 0 0 0 0 50.000 50.000 $23,565 $41,365 $182,190 485,241 508,8^550,171 $508,806 $550,171 $732,361 $187,837 225,171 267,361 0 0 90,000 0 0 50,000 320,969 325,000 (a) 325,000 (a) $508,806 $550,171 ^$732,361.^ The City established the road/bridge account in 1987 with resolution #2210 The funds to establish this account came from interest earned on MSA construction monies which were not then needed for MSA projects. Expenditures from the account are restricted to road and bridge projects, as approved by Council. The City established the emergency contingency account with resolution #941, and amended with resolution #2669 in 1989. The account is restricted for use in a cataSirophic situation or for temporary funding in the form of short-term loans to other accounts or funds and is to be repaid with interest within 24 months. The General Fund and/or the various operating funds of the City are to provide funding of $30,000 annually unless other action is approved by the Council. Each loan is to be approved in advance by resolution. NOTE! It is assumed that the emergency contingency account will be considered fully funded at the $325,000 level. Table 2