FY 2023 ADOPTED BUDGET AS OF 9-22-22 - Flipbook - Page 75
Budget-In-Brief → Budget Overview
outlay by departmental division line items. The capital outlay schedule includes both: additional
new items as well as replacement items.
11. Glossary
This section defines technical terms related to finance and accounting, as well as non-financial
terms related to the City.
Financial Structure
A fund is a fiscal and accounting entity with a self-balancing set of accounts recording cash and
other financial resources, together with all related liabilities and residual equities or balances,
and changes therein that are segregated for carrying on specific activities or attaining certain
major objectives in accordance with special regulations, restrictions, or limitations. Appropriated
funds are segregated by governmental funds and enterprise funds. Governmental funds are used
to account for most of the City’s tax-supported activities. Enterprise funds are used by the City to
account for revenue sources derived from fees charged to third parties to provide for ongoing
operating and capital needs. The City has fiduciary funds which are not budgeted as these
resources are held by the government as a trustee and cannot be used to support the
government’s own programs.
Governmental-Type Funds
The City’s Governmental Funds consist of the General Fund, Special Revenue Funds, and Capital
Projects Funds.
General Fund
The General Fund is the general operating fund of the City. It is used to account for all financial
resources, except those required to be accounted for in another fund. Resources include taxes,
franchise fees, state and local shared revenues, grants, fees, fines and forfeitures, charges for
services, and miscellaneous revenues. Services provided using these revenue sources in the
General Fund include general government, public safety, physical environment and
transportation, and culture and recreation.
Special Revenue Funds
Various special revenue funds are appropriated to specific revenue sources that are legally or
administratively restricted to expenditures for specified purposes. The following are the major
special revenue funds the City of Eustis appropriates:
Street Improvement Fund – To account for monies received from motor fuel gas tax sources with the
sole purpose of maintenance of the streets and right-of-way within the city.
Community Redevelopment Trust Fund – To account for the financial resources and expenditures
of the City’s special taxing district identified in the Community Redevelopment District.
Building Services Fund – To account for revenues generated by construction permit fees and
expenditures resulting from enforcement of the Florida Building Code.
Stormwater Utility Revenue Fund – Stormwater Utility Revenue Fund – User fees and other revenues
related to stormwater charges. The fund is responsible for funding the operation, construction, and
maintenance of stormwater management devices, stormwater system planning, and management.
City of Eustis, Florida
Adopted Annual Budget
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