Agenda Packets - 2024/05/13 - Laserfiche WebLink

Home Browse Search

NOTE 8 — INTERFUND TRANSACTIONS Transfers are made in accordance with the budget or as approved by the City Council. Transfers are used to move restricted and unrestricted revenues from various funds to finance various programs that the government must account for in other funds in accordance with budgetary and statutory authorizations. Transfers to the Community Center Special Revenue Fund support operation of city recreation programs; transfers to the EDA Special Revenue Fund support economic development and business outreach; transfers to and from the Vehicle and Equipment Special Revenue Fund support equipment purchases; and transfers to the General Fund offset indirect costs. The General Fund also made transfers to finance current and future capital projects. The following is a summary of current year transfers: Fund Making Transfer Fund Receiving Transfer General Fund EDA Special Revenue Fund Community Center Special Revenue Fund Vehicle and Equipment Capital Projects Fund Special Projects Capital Projects Fund Street Improvement Capital Projects Fund TIF District No. 5 Special Revenue Fund Vehicle and Equipment Capital Projects Fund Water Fund Sewer Fund Storm Water Fund Street Light Fund Total EDA Special Revenue Fund Water Fund Storm Water Fund General Fund Vehicle and Equipment Capital Projects Fund General Fund Vehicle and Equipment Capital Projects Fund General Fund Vehicle and Equipment Capital Projects Fund General Fund Amount $ 61,000 350,000 300,000 1,030,620 1,500,000 3,241,620 83,197 82,500 37,500 120,000 90,542 80,000 170,542 90,542 52,000 142,542 9,351 33,000 42,351 3,213 $ 3,803,465 To the extent possible, interfund transactions are eliminated in the government -wide financial statements. -50-