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12-11-23-R
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12-11-23-R
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<br /> <br />Fund Structure <br /> <br />Purpose and Accounting Basis <br />The accounts of the City are organized on the basis of funds and account groups, each of which <br />is considered a separate accounting entity. The operations of each fund are accounted for with <br />a separate set of self‐balancing accounts that comprise its assets, liabilities, fund equity, <br />revenues, and expenditures or expenses as appropriate. Government resources are allocated <br />to and accounted for in individual funds based upon the purposes for which they are to be <br />spent and the means by which spending activities are controlled. Certain funds have varying <br />levels of restrictions, imposed either by legal requirements or policy choices, and as such, it can <br />be helpful to see a broad overview of the City’s finances to show summaries of different funds. <br /> <br />The City’s funds are grouped into seven basic types: <br /> General <br /> Special Revenue <br /> Capital <br /> Debt Service <br /> Proprietary (Enterprise) <br /> Internal Service <br /> Fiduciary <br /> <br />The budgeted funds of the City are grouped into two broad categories as follows: <br /> Governmental Funds – Governmental Funds are used to account for “government‐type” <br />activities of the City (e.g., activities that receive a significant portion of their funding <br />from property taxes, state aids, and various grants). The Governmental Funds budgeted <br />for the City are the General Fund, Special Revenue Funds, Debt Service Funds, and <br />Capital Projects Funds. <br /> Proprietary Funds – Proprietary funds are used to account for the “business‐type” <br />activities of the City (e.g., activities that receive a significant portion of their funding <br />through user charges). The proprietary funds budgeted by the City are Enterprise Funds <br />and Internal Service Funds. <br /> <br />The first three fund types listed above comprise the majority of the day‐to‐day operating <br />activities of the City. The remaining fund types are more specialized funds, and typically <br />account for one‐time and/or specific activities rather than ongoing and recurring services. Brief <br />descriptions of each fund type follow. <br /> <br />General Fund <br />The General fund is the primary revenue source and operating fund for most services cities <br />typically offer. These include public safety (police and fire), street maintenance, parks and <br />recreation, and neighborhood and community services, etc. In addition, the City Council, <br />Administrative Services and City Attorney budgets are predominately funded by the General <br />Fund. <br />3
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