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City of Centerville <br />June 3, 2009 <br />Page 11 <br />Special Revenue Funds <br />Special revenue funds are used to account for revenue derived from specific taxes or other earmarked revenue sources. They <br />are usually required by statute or local ordinance to finance particular functions or activities of government. A smnmary of <br />year end fund balances for all special revenue funds follows: <br />Fund Balances <br />December 31, <br />Fund <br />Norunaj or <br />Cabie T.V. <br />2008 <br />2007 <br />Increase <br />(Decrease) <br />$ 19,222 $ 18,962 $ 260 <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 smnmary of year end fund balances (deficits) for all capital projects funds follows: <br />Fund Balances (Deficits) <br />December 31, <br />Fund <br />Major <br />Park <br />2007 CSAH 14 Improvements <br />Nonmaj or <br />Pedestrian Trail Ways <br />Hunter's Crossing 3rd Addition <br />2006 Municipal Improvements <br />2009 Street and Utility Improvements <br />2007 Development <br />2007 Downtown Redevelopment <br />2008 2007 <br />$ (239,830) $ (199,618) <br />367,558 1,182,815 <br />Increase <br />(Decrease) <br />$ (40,212) <br />(815,257) <br />(14,878) 12,817 (27,695) <br />- 115,245 (115,245) <br />(320,146) (235,630) (84,516) <br />(388,468) (97,665) (290,803) <br />43,680 83,675 (39,995) <br />136,659 169,397 (32,738) <br />Total <br />$ (415,425) $ 1,031,036 $ (1,446,461) <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 <br />whether by future charges or by transfers from other funds. <br />952.835.9090 Fax 952.835.3261 <br />www:aemcpas.cosn <br />