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<br />• Facilities Fund – The facilities fund was established in 2021 to provide for the development, <br />renovation and repairs of City buildings. <br /> <br />• Permanent Improvement Revolving (PIR) Fund – The PIR Fund is designed to provide temporary <br />financing of projects until permanent financing is available. <br /> <br />• Community Investment Fund – The Community Investment Fund provides funding for projects <br />of citywide importance that have no other funding source. <br /> <br />Enterprise Funds – Enterprise Funds are used to account for the business type activities of the City. <br />These include the following funds: Water, Sewer, Cable TV, Stormwater, and Recycling. <br /> <br />• Water – The Water Fund is used to account for the City’s utility. The system consists of two <br />water towers, three wells, 18 miles of water mains, and serves 1,149 customers. <br /> <br />• Sewer – The Sewer Fund is used to account for the City’s sewer utility. The system consists of 47 <br />miles of sewer lines and 46 pumping stations, and serves 2,368 customers. The largest expense <br />for the fund is a charge from the Metropolitan Council Environmental Services to pay for their <br />collector lines and the treatment of the wastewater. <br /> <br />• Recycling – the city contracts with Waste Management to provide for curbside recycling service. <br />Funding is provided through a combination of a grant from Hennepin County and user fees. In <br />addition, the city coordinates a spring cleanup day to assist residents who have materials <br />unsuitable for recycling or regular waste service. <br /> <br />• Stormwater – The Stormwater Fund is used to account for the City’s stormwater utility. The <br />system consists of culverts, collection ponds, and drainage ways. The utility was created in <br />order to provide funding needed to comply with State and Federal mandates regarding <br />stormwater. All properties within the city are charged a stormwater fee. <br /> <br />• Cable TV – The Cable TV Fund was created to account for revenues collected as part of the <br />franchise agreement between the City and Mediacom. <br /> <br />• Golf Course – The Golf Course Enterprise Fund was established in 2023. The Golf Course <br />provides golfing opportunities for both residents and visitors to the City. Post Covid-Pandemic, <br />the Golf Course has been performing exceptionally well to sustain itself separately from the <br />General Fund. During the winter months the course is open to sledding. <br /> <br />Internal Service Funds – Internal Service Funds are used to track revenue and expense shifts between <br />departments. These include the following funds: Insurance, Fleet Management, Compensated <br />Absences, and Information Technology. <br /> <br />• Insurance - The Insurance Fund was created to account for total insurance revenue and <br />expenses between all departments. <br /> <br />Page 8 of 63 100