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<br />LIBRARY GRANT FUND <br /> <br />WIC <br /> <br />DEBT SERVICE FONDS <br /> <br />INTEREST & SINKING <br /> <br />CAPITAL PROJECT FDHDS <br /> <br />1985 G.O. BONDS <br /> <br />GEN CAPITAL IMP <br /> <br />1981 G.O. BONDS <br /> <br />1981 PUBLIC WORKS C/O <br /> <br />1981 AIRPORT C/O. <br /> <br />CONSTRUCTION CREW <br /> <br />Funds are usually requested in advance for this grant program. <br />Total grant award ($19,211) is deposited into a interest earning <br />money market account. <br /> <br />The WIC fund is a State Grant program that is operated on a <br />reimbursement basis. The General Fund advances cash to pay <br />operating expenses for the month and is reimbursed the following <br />month. This fund does not earn interest since cash received is <br />due to the General Fund immediately. <br /> <br />The cash in this fund is derived from property taxes received <br />mostly in December and January. The debt service payments are <br />very predictable. Investments terms are made to coincide with the <br />annual debt service schedule. Investment of unappropriated fund <br />balance (approx. $814,000) can be made up to two years. <br /> <br />This fund consist mainly of bond proceeds from a 1985 issue. <br />These funds are invested for terms from 30 - 365 days contingent <br />on project construction schedules. The interest earnings on these <br />funds is restricted to the original purpose of the bonds. <br /> <br />This fund consists of projects funded by transfers from the <br />General Fund and the Water/Wastewater Utility fund. These funds <br />are invested form terms from 30 - 365 days contingent on project <br />construction schedules. Any balance remaining or excess interest <br />is returned to the original source of funding. <br /> <br />The cash in this fund was obtained from a 1987 bond sale. These <br />funds are invested for terms from 30 - 365 days contingent on <br />project construction schedules. The interest earnings on these <br />funds is restricted to the original purpose of the bonds. <br /> <br />The cash in this fund was obtained from a 1987 bond sale and a <br />$500,000 transfer from the Water/Wastewater fund. These funds are <br />invested for terms from 30 - 365 days contingent on project <br />construction schedules. <br /> <br />The cash in this fund was obtained from a 1987 bond sale. The <br />construction of an Airport Terminal Building will be made using <br />these funds. Funds are invested for 30 - 180 days. <br /> <br />The cash in this fund is obtained from transfers from other funds <br />for construction of capital projects. The transfers are usually <br /> <br />14 <br />