FY 17 Annual Report

Capital Improvements Fund

2017

CITY OF SPENCER, IOWA

2014 SIDEWALK ASSESSMENTS

PROJECT #104

PROJECT INFORMATION

The City offered $100,000 in FY14 to citizens as part of the Sidewalk Improvement Program. The intent of the program is to encourage residents to replace existing sidewalk which does not conform to city code or to install new sidewalk where sidewalk does not exist. The program will pay for concrete cost for any eligible project within the city and was open on a first come first served basis. By the end of FY14, the entire $100,000 had been allocated, however not all projects were yet completed. The City is also offering residents the opportunity to have the labor portion of the project assessed against their property if they can not afford to pay the full bill at this time. Once the construction has been completed, residents who choose to have their work assessed will have up to ten years to pay off their assessment. Based on the initial success of the first round of grants, the City Council voted to fund another $100,000 for sidewalk improvements. This money will be available starting in FY15. This project was created to account for the projects that will be specially assessed to property owners. The concrete costs expenditures come from the SRTS/Sidewalk Reserve Fund.

FY 2017 ACTUAL

PRIOR YEARS

PROJECT

PRIOR YEARS

TOTAL

REVENUES

SPECIAL ASSESSMENTS BOND PROCEEDS TRANSFERS IN

-

-

-

3,451.20 62,124.93

19,533.00 77,593.57

22,984.20 139,718.50

TOTAL REVENUES

65,576.13

97,126.57

162,702.70

-

EXPENDITURES

65,576.13

97,126.57

162,702.70

CONSTRUCTION MISCELLANEOUS

-

-

-

65,576.13

97,126.57

162,702.70

-

TOTAL EXPENDITURES

CAPITAL IMPROVEMENTS