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Chart 2 <br /> COMMUNITY PRESERVATION FUND FINANCING SOURCES <br /> ANNUAL FUND REVENUES FUND BALANCE BUDGETED RESERVES BORROWING <br /> Definition Annual retuning revenues Unspent funds generated by favorable Funds designated by the legislauve body Debt repaid with fume fund revenues <br /> operations during the previous FY that are for later appropriation for any CPA <br /> available for appropriation purpose during the fiscal year and/or for <br /> one of the following specific CPA <br /> purposes:(1)open space(including <br /> recreational),(2)historic resources and <br /> (3)cu»untty housing <br /> Source Surcharges assessed for FY Appropriation mm-backs,including Appropriations from annual fired Proceeds from notes,bonds orotherdebt j <br /> State trust fired distribution received during FY unappropriated balance from my amual revenues or fund balance obligations issued fora CPA purpose <br /> g budgeted reserve <br /> (begmang in T'yearof fund operation) <br /> Actual receipts in excess of budgeted <br /> revenues <br /> Investment interest <br /> Miscellaneous non-recurring revenues, <br /> e.g.,proceeds from sale of community \ <br /> Preservation fund acquisitions,damages <br /> and fines related to theacquisitions,or <br /> public/private gifidgmnts for the <br /> community preservation fund <br /> Limitations Legislative body muni appropriate or place in May be appropriated by legislative body Appropriations lo a particular reserve Legislative body must specifically authorize <br /> budgeted special pugwse reserves at least 10% for arty CPA purpose require legislative body vote that stats borrowing under CPA(G.L c.44B) <br /> of each years annual revenues for®ch of the specific dollar amount and source Borrowing limited in amount to debt service <br /> following CPA purposes:(1)open space being reserved <br /> (excluding recreational),(2)historic resources payable from estimated surcharge revenues <br /> and(3)community housing APpmpriatiomfrom the arcual budgeted over term <br /> reserve may be made for any CPA <br /> Cannot spend from appropriations until FY - purpose during the FY only and any Borrowing limited to purposes and tams <br /> applicable to municipal borrowing generally <br /> begins(ice.,7/I) unappropriatednestofndbalance at year-end mda G.L c.44§§7 and g <br /> closes m fund balance <br /> Appropriationsfrom a particular spacial Appropriations from proceeds remaining <br /> purpose reserve limited to that CPA after purpose completed or abandoned <br /> purpose restricted to a CPA purpose for which <br /> borrowing may be authorized for same or <br /> longer(arm than original loan <br /> Availability Until tax ratent for FY. Oneemleset,only Any time after accounting officer reports Arcual budgeted reserve during FY(i.e. Anytime <br /> budgeted reserves,fund balance orbonowing prior FY fund activities and balance to 7/1 to 6130) <br /> may be used as financing source. DOR unit 6130 close of current FY <br /> Special purpose rescues any time(or <br /> after 7/1 for new reservations from <br /> annual revenues) <br /> Similarity General fund annual tax levy(taxes,state aid, Free cash Stabilization fund(i.e.,general fund Other municipal debt <br /> receipts) monies reserved for later appropriation <br /> Enterprise fund free cash(retained for municipal purpose) <br /> Enterprise fund annual revenues(user charges earnings) <br /> and fees) Enterprise fund budgeted surplus <br /> ' 11 <br />