The hospiúal fund accounts for the lease income derived from Sartori Memorial Hospital. The TIF fund accounts for property taxes received through tax increment financing.
The sfreef repair fund accounts for local option sales tax received from the state to be used to repair streets.
The sfreef construction fund accounts for state revenues allocated to the City to be used to maintain and improve the City's streets.
The debf service fund accounts for the servicing of general long-term debt not being financed by proprietary funds.
The FEMA fund accounts for the proceeds and expenditures related to disaster assistance and recovery.
Ihe bond fund accounts for all bond proceeds not related to proprietary funds and all the related capital projects associated with the bond sales.
The City reports the following major proprietary funds: The setøer fund accounts for the operations and maintenance of the City's sanitary sewer system. The refuse fund accounts for the operations and maintenance of the City's garbage collection.
The sform water fund accounts for the operations and maintenance of the city's storm water system.
Additionally, the City reports the following fund type:
lnternal service funds account for operations that provide services to other departments or agencies of the City, or to other governments, on a cost-reimbursement basis. These include data processing, vehicle maintenance, health insurance, health insurance severance, payroll, and risk management activities.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are payments between the government's refuse and sewer functions and various other functions of the government. Elimination of the charges would distort the direct costs and program revenues reported for the various functions concerned.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and
contributions. lnternally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the refuse fund, sewer fund, and the government's internal service funds are charges to customers for services. Operating expenses for enterprise funds and internal service funds include the cost of services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the government's policy to use restricted resources first, then unrestricted resources as they are needed.
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