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NOTE 8—INTERFUND TRANSACTIONS <br /> A. Interfund Balances <br /> As of December 31, 2025, The Community Center Special Revenue Fund reported a balance of$12,429 <br /> due from the Recycling Grant Special Revenue Fund and the Sewer Enterprise Fund reported a balance of <br /> $1,248,181 due from the Water Enterprise Fund. The borrowing between special revenue funds was to <br /> eliminate a temporary cash deficit. The balance owed by the Water Enterprise Fund was also used to <br /> eliminate a cash deficit largely due to capital spending in the current year without using outside financing. <br /> B. Interfund Transfers <br /> Transfers are made in accordance with the budget or as approved by the City Council. Transfers are used <br /> to move restricted and unrestricted revenues from various funds to finance various programs that the <br /> government must account for in other funds in accordance with budgetary and statutory authorizations. <br /> Transfers to the Community Center Special Revenue Fund support operation of city recreation programs; <br /> transfers to the EDA Special Revenue Fund support economic development and business outreach;transfers <br /> to and from the Vehicle and Equipment Special Revenue Fund support equipment purchases; and transfers <br /> to the General Fund offset indirect costs.The General Fund also made transfers to finance current and future <br /> capital projects. The following is a summary of current year transfers: <br /> Fund Making Transfer Fund Receiving Transfer Amount <br /> Governmental Funds <br /> General Fund Special Projects Capital Projects Fund $ 385,000 <br /> TIF District No.5 Special Revenue Fund EDA Special Revenue Fund 91,319 <br /> Vehicle and Equipment Capital Projects Fund Storm Water Proprietary Fund 498,680 <br /> Nonmajor Funds <br /> TIF District No. 6 Special Revenue Fund EDA Special Revenue Fund 791 <br /> TIF District No. 7 Special Revenue Fund EDA Special Revenue Fund 4,580 <br /> Proprietary Funds <br /> Water Fund General Fund 77,742 <br /> Vehicle and Equipment Capital Projects Fund 90,000 <br /> 167,742 <br /> Sewer Fund General Fund 41,490 <br /> Vehicle and Equipment Capital Projects Fund 60,000 <br /> 101,490 <br /> Storm Water Fund General Fund 18,430 <br /> Vehicle and Equipment Capital Projects Fund 40,000 <br /> 58,430 <br /> Nonmajor—Street Light Fund General Fund 2,620 <br /> Total $ 1,310,652 <br /> To the extent possible, interfund transactions are eliminated in the government-wide financial statements. <br /> -50- <br />