09-22-2025 - Agenda Packet City Council - Regular Meeting

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Special Projects and Contingencies —The Special Projects and Contingencies Department budget include the annual operating transfer to the Improvement & Equipment Outlay Fund for the purchase of capital equipment for General Fund Departments other than for the Police Department. The department also includes an amount for any unforeseen circumstances that produce additional expenses or revenue shortfalls. Special Revenue Funds — Special Revenue Funds provide for funding of expenditures that are primarily funded by a revenue source that is not part of the general tax levy and has a restricted use. Park Fund —The Park Fund's major revenue source are Park Dedication Fees collected as part of a subdivision or major development process. By state law fees received must be placed in a special fund and can be used for specific purposes. Park dedication fees must be used only for the acquisition and development or improvement of parks, recreational facilities, playgrounds, trails, wetlands, or open space based on the approved park systems plan. • Drug and Felony Forfeiture Fund —The Drug and Felony Forfeiture Fund's major sources of revenue are the sale of DWI forfeited vehicles and revenue received from drug enforcement activities. The funds are restricted for law enforcement activities related to alcohol and drug enforcement. • Lurton Park Fund —The Lurton Park Fund's major revenue source is from dog park permits issued users of the park. The expenditures are used for the Lurton Park, such as capital improvements. • Senior Housing TIF Fund — The Senior Housing TIF Fund was created to provide housing opportunities for seniors within the City. Its major revenue source is the additional property taxes collected on the captured value of the property. 90% of the funds collected are forwarded to the developer to help pay for the bonds associated with the project. • Carman Bay LID Fund —The Carman Bay LID Fund was created to provide separate tracking for the certification of the lake improvement district's levy to its homeowners, any cost to the City and the pass -through of the revenue back to the district. • Stubbs Bay LID Fund —The Stubbs Bay LID Fund was created to provide separate tracking for the certification of the lake improvement district's levy to its homeowners, any cost to the City and the pass -through of the revenue back to the district. Debt Service Funds — Debt Service Funds are used to pay for debt service on the City's outstanding bonds. Funding for debt service funds can include: property taxes; special assessments, debt support from other funds; or a combination of the three. 2014 General Obligation Bonds —The 2014 bonds were issued for multiple purposes: to refund the 2005 HRA Public Project Revenue Bonds (Big Island); to fund water infrastructure improvements including a new well; and to fund the construction of the Public Safety Garage. Funding is a combination of property taxes; water revenues; and a transfer from the General Fund related to revenues from the Mound police service contract. Page 10 of 96 165