07-13-1992 Council Packet - Laserfiche WebLink

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„J». # -Jg.fv „,.:pf ... > m m pr»i; fjf:m<: t lti.i/i> EV-life-#'*: lifts ’Wm^r -vAi'^ •* •» ixm te:-?i‘ ^-,t iiiiS.iv’--* iti:" 1%., r:iSli"* p *fr: ■'■' if:! $-!C^V.;. ®ir ttSr-;' To Iho City Council and Citizens of the City of Oronohmi, mi f''UND Balances lAL Fund Hm uadatifnalad ftind balance of the General Fund increased from $785,701 at December 31, 1990, to SS19.932 ai Deconber 31, 1991, or 4.4%. The 1991 ending undesignaled fund balance provides 27% covyafe of the 1992 adopted budget of $3,024,890 lAL R evenue funds Special Riveiiiii Funds are used to account for the proceeds of specific revenue sources that are legally f iriclid to eipmdituret for specific purposes, including current operating expenses and capital outlay. Fabk fund The Park Fund was created by Ordinance ot the City Council to receive contributions for aobdiviaiont in lieu of conveyance or dedication of land for parks, playgrounds, and other public purpoeet. Such contributions, termed park dedication fees, are to be used for the acquisition, devilopinent. or maintenance of public parks, playground.s, surface water holding areas (ponding areas), and debt retirement in connection with land previously acquired for such public purposes, tlif itod balance as of December 31. 1991 was $236,659. IMPDOVEMENT AND EQUIPhfENI OUTLAY FUND The lnproveni«M and Equipment (Outlay Fund was established to provide a source of funds for eqelpmeni purdiases and improvements The fund was established by a transfer from the General Fimu I and la maintained by annual budgeted transfers from the General Fund, by investment lerainfi, and by user charges to participating departments for certain office equipment. l^ipendiDircs are for non-Enterprise Fund purposes The fund balance as of December 31. 1991 was 1253,131. Buijnng C apital Outlay Fund The Buikting Capital Outlay Fund was established to receive annual budgeted transfers from the Otnml Fuad for the purpose of reducing the need for future bonding of non'Emerprise building fhcHitto. During 1991, the fintd payment of bonds and imcrest was made in the 1966-76 Improvemmt Bonds and die residual equity of $349,353 was transferred to the Building Capital Outlay Fund. The 1991 FUMic Facilkiea Capkal Project Fund received advmces from the Building Cigiital Ouday ^lad of 1215,619 fot Und acquisition. constructKin. and profeuioad aervkas ooMi Incnnad prior to the sale of the 1991 f^ic Facilities Revenue Bo^ The advances wUl be fipaid froDl bond proceeds The City Council has determined that investmwu eandags of the Bnllding Capihd oiniay Fund will be used to a degree to pay the debt service of the 1991 PuMk Facditjni Rtvmue Boiids The Building Capital Outlay Fund balance at December 31. 1991 was t2;64l.ll5. 1 —---■ *