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LAKE MINNETONKA CONSERVATION DISTRICT <br />Page 2 <br />estimated to reduce the Administrative Reserve to approximately <br />six months of operating expenses ($125,000) and the Milfoil <br />Reserve to approximately 12 months of operating expenses <br />($125,000). In addition to the Milfoil Reserve, the LMCD has <br />to the depreciation reserve in 1995. This will increase the <br />depreciation reserve balance to approximately $210,uuu. <br />- The LMCD also administers the Save the La)ce Fund which <br />contains donations by private parties and interest income <br />thereon. The Save the La)ce Fund is used to fund special pro3ects <br />of benefit to the lalce which the Board does not , <br />bSdgeranticipaterappLximately^$32 f SOO^if ^ <br />Save the Lalce Fund in 1995. This amount will oe reviewed later <br />in the year based on the success of the fund raising efforts and <br />the needs for special project funding. <br />- Overall, the enclosed 1995 Budget is essentially flat <br />from the 1994 Budget. <br />- With respect to estimated revenues in 1995 the following <br />comments are relevant: <br />(a) The requested funds from the cities total $143,323 <br />consisting of $80,323 for administrative purposes and <br />$63,000 for milfoil purposes. Under state law, the <br />maximum amount that the cites can provide (without a <br />3/4 vote of all of the cities) is $144,135 based on <br />1993 assessed valuation. In 1994, the amount of city <br />funds requested, after adjustments for reserve <br />reductions, was $88,117. <br />(b) License revenue from multiple doc)c and other <br />licenses is estimated to be $86,000 in 1995 compared to <br />$112,000 in 1994. The reduction is due to (i) a <br />decrease in multiple doc)c license fees _ <br />protests from the licensees and an analysis by the LMCD <br />of the costs associated with regulating the multiple <br />doc)c licenses and (ii) the elimination of duplicating <br />licensing of special events. <br />(c) Revenue from fines and interest income is reduced <br />to reflect actual 1993 experience and reduced fund <br />balances. <br />(d) The proposed 1995 budget anticipates receipt of <br />approximately $40,000 of funds from the DNR and <br />Hennepin County for purpose of the milfoil program. <br />This is consistent with our 1994 e.xperience. However, <br />we have no assurance that we will in fact receive the <br />money. If we do not, it may be necessary to curtail <br />the milfoil program.