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44 <br /> <br />SPECIAL REVENUE FUNDS <br />SUMMARY <br />Description <br /> <br />The City of Arden Hills currently maintains six active Special Revenue Funds. A Special <br />Revenue Fund is used to account for revenue sources that are legally restricted for a <br />specific purpose. The modified accrual basis of accounting is used for Special Revenue <br />Funds. That is, expenditures are recorded at the time liabilities are incurred and revenues <br />are recorded when received. However, compensated absences are expensed when paid <br />for budgetary purposes. Special Revenue Funds budgets are not always balanced, <br />meaning budgeted revenues may be greater or less than budgeted expenditures. In these <br />circumstances reserves will show an increase or decrease in the fund’s balance. <br /> <br />Budget Issues <br /> <br />See individual fund’s for budget issues, because each fund will have its own unique <br />budget issues. <br /> <br /> <br />47% <br />22% <br />26% <br />5% <br />Revenues by Classification <br />Total  Revenues $456,300 <br />Taxes <br />Cable Franchise <br />Transfers <br />Interest on  <br />Investments <br />62% <br />22% <br />16% <br /><1% <br />Expenditures by Classification <br />Total  Expenditures $506,972 <br />Other Services and  <br />Charges <br />Personal Services <br />Capital Outlay <br />Materials and Supplies <br /> <br /> <br /> <br /> <br /> <br /> <br />