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1111 1 1 <br />RKSM N� <br />Description of Funds <br />The City maintains a number of major and mm'or funds for recording the fiscal transactions and to me <br />n] <br />legal accounting requirements. Within each fand, there may be a number of sub-fimds, which are use <br />during the fiscal year to assist in monitoring and managing allocations, grants or specific projects. <br />year-end, all sub-funds are rolled up into the prime fund for reporting purposes. <br />Below are general descriptions of the flund- <br />Fund Type: General Fund <br />Des * tion: The General Fund provides for accounting of general governmental functions related to the <br />CFIP <br />City's statutory obligations., Those fanctions includc; public works, fire services, police Semces, city <br />council, city administration, finance, insurance and legal. This fimd has been designated a major fand <br />for reporting purposes <br />The major sources of revenue for the general Rmd consist of property taxes, intergovemmental revenue <br />fines and forfeits, federal and state grants,, investment *income and charges for services rendered t <br />citizens and to other city fimctions. <br />FRxpenditures for the general fund operations include; wages, salaries and benefits, supplies, and othef <br />charges, which M'clude utilities, professional services, memberships, and other similar uses of fuumnd <br />Certain capital expenditures are included, if they are made up of items which are new and for which th <br />C-Afty has not previously set aside depreciation (replacement funds). I <br />Fund Type: -Sipecial Revenue <br />General Description: Special Revenue: Funds in which revenues are collected for specific purposes ani <br />expenditures for those specc purposes are recorded. <br />Des * lion: Recreation and Parks Fund accounts for resources and payments related to the parks anlil <br />crip <br />recreation fanctions of tile City. This fund has been designated a major fand for reporting purposes <br />R i-evenues. generally consist of property tax dollars levied specifically for parks and recreation as well ag <br />fees and charges collected from users of the ciWs parks and recreation facilities. Other revenue <br />9 1 <br />f nclude; investment income, donations and other miscellaneous revenues sources. <br />Expenditures recorded M'clude wages, salaries and employee benefits for staff directly providing parks <br />md recreational services, supplies, and other charges. Certain capital expenditures are included, if they <br />-zre made up of items which are new and for which the City has not previously set aside depreciation <br />(replacement funds). <br />This fand is composed of the Recreation Fund and the Parks Maintenance Fund and it is expected to be <br />qelf-supporting. <br />Description: Community Development Fund accounts for resources and payments related to the <br />building safety inspection and land use functions of the City. This fund has been designated a major <br />fand for reporting purposes <br />