ACFR - FY2021 FINAL 5-13-22 USE THIS ONE - Flipbook - Page 115
REQUIRED SUPPLEMENTARY INFORMATION OTHER THAN MD&A
Major Governmental Funds
Under GASB 34, the focus of the fund financial statements is on major funds.
These funds are defined based on a numerical formula and generally
represent the government’s most important funds. Major funds for the City of
Eustis are as follows:
General Fund
The General Fund will always be the major fund for the City of Eustis. The
fund carries out the general operations of the City and accounts for the
essential City functions.
Street Improvement Fund
This fund is used to accumulate monies, received from motor fuel gas tax
sources. These funds are legally restricted to street maintenance programs
and the money is expended solely on maintenance of the streets and right-ofways within the City.
Sales Tax Capital Projects Fund
This fund is used to account for the City’s share of the voted one-cent
infrastructure sales tax, which is restricted to capital projects.
Community Redevelopment Fund
This fund is used to account for incremental tax increases within the
Downtown and East Town Redevelopment District. The funds are used for the
exclusive benefit of the revitalization of these areas.
Stormwater Utility Fund
This fund is used to accumulate revenues that fund the programs necessary
to address issues associated with stormwater runoff.
Schedule of Contributions from Employers and Others
This information is presented for the Fire and Police Pension Funds and was
prepared as part of the actuarial valuations as of the dates indicated.
Schedules of Liabilities from Other Post-Employment Benefits
Actuarial valuation of liability using the unit credit cost method – Unfunded
Actuarial Accrued Liability.
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