General Fund – The City’s primary operating fund required by State Law to account for all governmental activities except business activities like the City’s Utilities.

 

Enterprise Fund – Accounts for the City’s business type activities like Utilities.  Revenues can only be used to support the business type of activities.  Cannot be used to support general governmental activities.

 

Revenue – Sources of income received during a fiscal year, operating transfers from other funds, and other financing sources such as the proceeds received from the sale of fixed assets.

 

Operating revenues – Funds that the City receives as income to pay for ongoing operations.  It includes such items as taxes, fees from specific services, interest earnings, and grant revenues.  Operating revenues are used to pay for day-to-day services.

 

Program revenues – Income earned by a program, including fees for services, licenses and permits, and fines.

 

User charges – The payment of a fee for direct receipt of a public service by the party who benefits from the service.  Example is Utility fees for water and sewer service.

 

Ongoing revenues – Income received on a continual basis such as property taxes, sales taxes, water and sewer charges, etc.

 

One-time revenues – Income not received on a continual basis or repeating basis from the citizens such as mitigation impact fees, planning fees, building fees, etc.

 

Mitigation fees – One-time income received from developers for specific future improvements to City facilities resulting from the additional demand on those City facilities generated by the development.  An example is a Community Center.

 

Restricted revenues – One-time or ongoing revenue whose use is restricted either by state law, voters, City Council ordinance or resolution, or by the individual providing the funds for a specific purpose.  Examples are motor fuel tax is restricted for street maintenance, mitigation funds are restricted to improve or construct parks, community centers, water and sewer system, etc.

 

Un-restricted revenues – One-time or ongoing revenue that can be used for any legal governmental purpose, generally used to provide governmental services such as public safety.  Examples are sales tax, property tax, business and occupation tax, etc.

 

Capital Outlay – Spending which results in the acquisition or construction of a fixed asset.  Examples include land, buildings, equipment, water systems, etc.

 

Capital Assets (Fixed Assets) – Purchases of significant value having a useful life of several years or more.  Capital assets are also commonly referred to as fixed assets.