Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
The accounts of the City are organized on the basis of funds and account groups, <br /> each of which is considered a separate aCcou~tin9 entity. The operations of each <br /> fund are accounted for with a separate set of self-balancing accounts that comprise <br /> its assets, liabilities, fund equity, revenues and expenditures, or expenses, as <br /> appropriate. Government resources are allocated to and accounted for in individual <br /> funds based upon the purposes for which they are to be spent and the means by which <br /> spending activities are controlled. The various funds are grouped, in the finan- <br /> cial statements in this report, into 7 generic fund types and 4 broad fund <br /> categories as follows: <br /> <br /> Governmental Funds <br /> <br /> General Fund - the General Fund is the general operating fund of the City. It is <br /> used to account for all financial resources except those required to be accounted <br /> for in another fund. <br /> <br /> Special Revenue Funds - Special Revenue Funds are used to account for the proceeds <br /> of specific revenue sources that are legally restricted to expenditures for <br /> specified purposes. <br /> <br />Capital Projects Funds - Capital Projects Funds are used to account for financial <br />resources to be used for the acquisition or construction of major capital facili- <br />ties, other than those financed by proprietary funds. <br /> <br />Debt Service Funds - Debt Service Funds are used to account for the accumulation <br />of resources for, and the payment of, general long-term debt principal, interest, <br />and related costs. <br /> <br />Proprietary Fund Types and Fiduciary Funds <br /> <br />Enterprise Funds - the Enterprise Fund is used to account for operations that are <br />financed and operated in a manner similar to private business enterprises, where <br />the intent of the governing body is that the costs of providing goods or services <br />to the general public on a continuing basis be financed or recovered primarily <br />through user charges. <br /> <br />Internal Service Funds - Internal Service funds are used to account for the <br />financing of goods or services provided by one department or agency to other <br />departments or agencies of the government and to other government units, on a <br />cost reimbursement basis. <br /> <br />Fiduciary Funds - Trust Funds are used to account for assets held by the City in a <br />trustee capacity and are accounted for in essentially the same manner as propri- <br />etary funds since capital maintenance is critical. <br /> <br />Fixed Assets and Long-Term Debt Account Groups <br /> <br />Fixed assets used in governmental fund type operations (general fixed assets) are <br />accounted for in the General Fixed Assets Account Group, rather than in governmen- <br />tal funds. Public domain general fixed assets consisting of certain improvements <br />including roads, bridges, curbs and gutters, streets and sidewalks, drainage <br />systems, and lighting systems are not capitalized as general fixed assets. No <br />depreciation is provided on general fixed assets. <br /> <br /> I-7 <br /> <br /> <br />