|
NEED FOR ADDITIONAL FUNDING
<br />The following schedule siumnarizes the Park Dedication Fees
<br />ccMected and expended from the time the Park Dedication Fee
<br />Schedule was first adopted in 1976 through the end of 1988. It
<br />also shows the current balance in the fund.
<br />PARE FUND
<br />Cash and investments balance at 12/31/''
<br />Investment
<br />$117,113
<br />Year Park Pees Tnt. Earned Total Expend f t:
<br />1988 $ 7,900 $ 8,923 $ 16,823 $ 16,631
<br />1987 6,440 10,368 16,808 32,394
<br />1986 6,950 10,283 17,233 1,884
<br />1985 2,950 11,125 14,075 5,917
<br />1984 11,830 11,744 23,574 15,888
<br />1983 6,290 11,708 17,998 68,834
<br />1982 17,339 17,664 35,003 6,199
<br />1981 5,480 19,268 24,748 7,661
<br />1980 2,890 9,258 12,148 7,731
<br />1979 10,140 10,515 20,655 7,316
<br />1978 38,781 5,996 44,777 989
<br />1977 37,964 305 38,269 14,398
<br />1976 29,239 142 29,381 2,535
<br />1975 2.453 — M _ _2 .i53 — —
<br />Total $186,646 $127,299 $313,945 $188,377
<br />Major expenditures include the following:
<br />1988 - Well at HacJcberry Park to flood s'* .. rink
<br />1987 -
<br />1984 - Bederwood Park and Summit Beach
<br />1983 - Repay golf course debt
<br />The current size of the fund ($117,000) plus annual
<br />addition of under $10,000 prevent the Park Cominission from
<br />undertaking any more than a "maintain and hold" approach toward
<br />the existii*^' park system. Major improvements and enhancements
<br />-4-
|