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116 <br /> City of Saint Anthony <br /> Financial Plan <br /> • DEBT......................................................An obligation resulting from the borrowing of <br /> money or the purchase of goods or services. <br /> DEBT SERVICE FUND..........................A fund established to account for the payment <br /> of principal and interest on debt of the City. <br /> ENTERPRISE FUND..............................A fund established to account for the financing <br /> of services to the general public where all or <br /> most of the costs involved are recovered <br /> primarily through user fees. (City enterprise <br /> funds are water and sewer, police contract <br /> services and liquor operations. <br /> Expenditure...........................................Disbursements for operating costs debt service <br /> and capital outlay. <br /> FISCAL DISPARITIES...........................Is a tax sharing pool created to distribute <br /> dollars to areas with modest tax capacity <br /> values.- <br /> FISCAL YEAR ...................:..................The twelve month period to which the annual <br /> • budget applies and at the end of which the City <br /> determines its financial position. The City's <br /> fiscal year is January 1"to December 31 s` <br /> FIXED ASSETS......................................Long-term tangible assets which are "fixed" in <br /> nature, such as building, land, and equipment. <br /> FUND......................................................An accounting entity with a self-balancing set <br /> of accounts in which assets, liabilities, and <br /> equity are recorded for a specific activity or <br /> objective. <br /> FUND BALANCE...................................The difference between fund assets and fund <br /> liabilities. The fund balance can be used as a <br /> revenue source by decreasing an existing <br /> positive balance. <br /> GENERAL FUND...................................This fund is used to account for all general <br /> operations of the City, which are necessary to <br /> provide basic governmental services. <br /> • GENERAL OBLIGATION BONDS <br /> (G.O. BONDS)........................................Bonds that are backed with the full faith and <br /> credit of the City. <br /> H <br />