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City of Centerville <br />March 28, 2012 <br />Page 9 <br />Special Revenue Funds <br />Special revenue funds are used to account for revenue derived from specific taxes or other earmarked revenue sources. They are <br />usually required by statute or local ordinance to finance particular functions or activities of government. A summary of year end <br />fund balances for all special revenue funds follows: <br />Fund <br />Nomnajor <br />Cable T.V. <br />Fund Balances <br />December 31, Increase <br />2011 2010 (Decrease) <br />$ 25,453 $ 24,662 $ 791 <br />Capital Projects Funds <br />The capital projects funds are used to account for the acquisition and construction of major capital facilities other than those <br />financed by enterprise funds. A summary of year end fund balances (deficits) for all capital projects funds follows: <br />Fund <br />Major <br />Park <br />Nonmajor <br />2009 Street & Utility Improvements <br />Street Maintenance <br />Pedestrian Trail Ways <br />2007 Downtown Redevelopment <br />CDBG Water Services <br />Fund Balances (Deficits) <br />December 31, <br />Increase <br />2011 2010 <br />(Decrease) <br />$ (1,071,023) $ (1,071,510) <br />$ 487 <br />- 47,918 <br />(47,918) <br />26,100 - <br />26,100 <br />7,426 545,086 <br />(537,660) <br />59,391 125,716 <br />(66,325) <br />- (5,400) <br />5,400 <br />Total <br />$ (978,106) $ (358,190) $ (619,916) <br />The City should annually evaluate the status of each project to determine if the fund should be closed or if additional funding <br />sources will be needed for deficits. Each deficit indicates a funding shortfall and all will eventually need to be eliminated either by <br />future charges or by transfers from other funds. The deficit fund balance in the Park fund of $1,071,510 is mostly due to a <br />transfer out of $825,000 to the Pedestrian Trial Ways fund for the funding project plan and loan between funds. <br />952.835.9090 • Fax 952.835.3261 <br />w w w.aemcpas. corn <br />