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City of Orono <br />Parmanenl improvement Revolving Fund (FIR) <br />Changes in Fund Balance <br />Actual <br />1994 <br />Estimated <br />1995 <br />Estimated <br />1996 <br />Revenues <br />Property taxes <br />Special assessments <br />Interest on investments <br />Miscellaneous <br />Total Revenue <br />$230 <br />17.768 <br />26,750 <br />16,284 <br />$0 <br />13,380 <br />27,985 <br />0 <br />$40,000 <br />11,940 <br />30.250 <br />0 <br />61,032 41,365 82,190 <br />Expenditures <br />Professional services 3«,467 0 0 <br />Total Expenditures 37.467 0 0 <br />Transfers In From General Fund <br />For storm water managment plan <br />For infrastructure (storm drainage projects) <br />0 <br />0 <br />0 <br />0 <br />50.000 <br />50.000 <br />Excess (deficiency) of revenue <br />over expenditures $23,565 $41,365 $182,190 <br />Fund Balance Beginning of Year 4C5.241 508.806 550,171 <br />Fund Balance End of Year $508^06,$550,171 $732,361 <br />Fund Balance Components <br />Designated for: <br />Infrastructure (road/bridge) projects $187,837 <br />Infrastructure (storm drainage) projects 0 <br />Storm water managment plan 0 <br />Emergency contingencies <br />Total Fund Balance <br />320,969 <br />$508,806 <br />225.171 <br />0 <br />0 <br />325^0^ (a) <br />$550,171 <br />267.361 <br />90.000 <br />50.000 <br />325.000 (a) <br />_S732J61 <br />The City established the road/bridge account in 1987 with resolution #2210 <br />The funds to establish this account came from interest earned on MSA <br />construction monies which were not then needed for MSA projects. <br />Expenditures from the account are restncted to road and bridge projects, <br />as approved by Council. <br />The City established the emergencv contingency account with resolution #941, <br />and amended with resolution #2669 in 1989. The account is restricted for <br />use in a catastrophic situation or for temporary funding in the form of <br />short-term loans to other accounts or funds and is to be repaid with interest <br />within 24 months The General Fund and/or the various operating funds of the <br />City are to provide funding of $30,000 annually unless other action is approved <br />by the Council. Each loan is to be approved in advance by resolution. <br />NOTE! It is assumed that the emergency contingency account will be considered <br />fully funded at the $325,000 level.