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4.5. District Reserve Fund Balance <br /> A District Reserve Fund has been established, and was accumulated through a component of <br /> the annual assessments through fiscal year 2000/01. The estimated District Reserve Fund <br /> Balance as of June 30, 2002 is $300,000. The District Reserve Fund has met its $300,000 <br /> goal. <br /> DESCRIPTION AMOUNT <br /> Estimated Fund Balance as of June 30, 2002 $300,000.00 <br /> Contribution from available District funds 0.00 <br /> ESTIMATED FUND BALANCE JUNE 30,2003 $300,000.00 <br /> The District Reserve may be used to fund capital improvements. <br /> The budgeted annual maintenance costs for the North, Bunker, and East Marshes was <br /> $42,000. The planned Shoreline Marshlands capital improvement project costs are estimated <br /> to be $47,000. Property owners will not be assessed at the maximum allowable rate in fiscal <br /> year 2002/03 because of the Reserve Fund has been fully funded and assessments previously <br /> collected will pay the costs of the project. <br /> 4-4 <br />