Finance Committee Agenda and Packet 2020 12 15

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SUBJECT: FUND STRUCTURE & RESTRICTED REVENUE DATE: DECEMBER 15, 2020 PAGE 2 OF 6 the City used for open space buffer zones, trails, wildlife habitats, wetlands preservation, and parks. The original Conservation Trust Fund was divided into two funds in 1996 to more readily identify lottery proceeds and the related projects and those sales tax revenues restricted for land acquisition. Conservation Trust — Lottery Fund The City of Louisville, through Resolution 14, dated July 16, 1974, established a Conservation Trust Fund. The City receives an annual distribution from the State of Colorado from the proceeds of the Colorado State Lottery. State law mandates that a Conservation Trust Fund be established to record revenues and expenditures and that these funds be restricted for the use in the acquisition, development, and maintenance of "new conservation sites" or for capital improvements or maintenance for recreational purposes on any public site. Cemetery Fund The Cemetery Fund was created on November 3, 2008 by Ordinance 1542. Unlike the Cemetery Perpetual Care Fund, the revenue in the Cemetery Fund can be used for both cemetery maintenance and capital improvements. Beginning in 2009, all the interest revenue earned in the Cemetery Perpetual Care Fund has been transferred to the Cemetery Fund for maintenance of the lots. The General Fund transfers the remaining funds necessary to operate the Cemetery. PEG Fees The PEG Fees Fund (formerly the Public Access Television Fund) was created in 2006 in response to Resolution 22, Series 2006, that approved an agreement between the City of Louisville and Citizens Community Access Cable Television Management. Originally used to account for PEG grants, effective July 2009, the City's cable provider began collecting and remitting to the City a $0.50 per account per month PEG Fee that is split evenly between the City and CCTV for capital outlay. Beginning with the third quarter 2011, the City began keeping the entire $0.50 per account per month for capital outlay. Parking Improvement Fund This fund was created in 2000 to track the downtown parking improvement fees This fee is to be used for the purchase or lease of real and personal property for the construction, improvement, or provision of additional on -street and off-street public parking space to serve Downtown Louisville and other improvements associated with downtown parking. Historic Preservation Fund On November 4, 2008, Louisville voters approved a temporary sales tax increase of 1 /8% for ten years, beginning January 1, 2009. Revenue from this increase is restricted for historic preservation purposes within Historic Old Town Louisville. The Historic Preservation Fund was created by Ordinance 1544, Series 2008. Resolution 20, Series 2009, enacted additional provisions regarding the administration, structure, and uses of the Historic Preservation Fund. On November 7, 2017, voters extended the sales tax for another ten years (through 2028), authorized expenditure of funds outside the boundaries CITY COUNCIL COMMUNICATION E