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SPECIAL REVENUE FUNDS <br /> <br />Overview <br />Special revenue funds are used to account for revenue derived from specific revenue sources that are legally <br />restricted or committed to expenditures for specific purposes. The City of Little Canada has four Special <br />Revenue funds: <br />• Economic Development Fund (Fund 105) <br />• Parks & Recreation Fund (Fund 201) <br />• Cable TV Fund (Fund 202) <br />• Recycling/Trash Fund (Fund 203) <br /> <br />Economic Development Fund: <br />This special revenue fund accounts for the amounts received and spent of community related activities. The <br />Little Canada Economic Development Authority (EDA) is a legally separate entity related to provide financing for <br />economic development with the city of Little Canada. The governing board of the EDA is appointed by the city <br />Council, and is substantially the same as the City Council. <br /> <br />Parks & Recreation Fund: <br />The Parks & Recreation Fund is used to account for amounts received and the related expenditures for the City’s <br />parks and recreational activities. <br /> <br /> <br />Cable TV Fund: <br />This Special Revenue fund accounts for revenue and expenditures related to cable TV, internet, and other forms <br />of communication. Revenue for this fund comes primarily from cable owner franchise fees. Staff will continue <br />to determine the impact of the recent FCC Cable Franchising Order on the franchise fees. In addition, staff is in <br />the process of identifying any other appropriate expenditures that may be funded with franchise fees. <br /> <br /> <br />Recycling/Trash Fund: <br />This Special Revenue fund accounts for revenue and expenditures related to the operation of the City’s <br />organized trash and recycling collection program. <br /> <br /> <br />DRAFT DOCUMENT 53