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CITY OF HUGO, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS (CONTINUED) <br />3. Detailed Notes on All Funds (Continued) <br />F. Interfund Transfers <br />Transfers are used to 1) move revenues from the fund with collection authorization to the debt <br />service fund as debt service principal and interest payments become due; 2) move unrestricted <br />general fund revenues to finance various programs that the government must account for in <br />other funds in accordance with budgetary authorizations. The amounts transferred from the <br />water fund were used to finance various infrastructure projects in the City projects funds. <br />Interfund transfers during the year ended December 31, 2016 were as follows: <br />Major Governmental Funds: <br />General <br />General Obligation Bonds <br />Property and Equipment Acquisition <br />Public Improvements <br />Non -Major Governmental Funds: <br />Compensated Absences <br />Abatement Levy Offset <br />Total Governmental Funds <br />Proprietary Funds: <br />Water and Sewer Utility Fund <br />Total All Funds <br />53 <br />Transfers In Transfers Out <br />$ <br />$ 855,392 <br />218,493 <br />104 <br />499,861 <br />2,111,086 <br />1,784,873 <br />29,422 <br />109,425 <br />2,858,862 <br />2,749,794 <br />109,068 <br />$ 2,858,862 <br />$ 2,858,862 <br />