Page 43 - Colleyville FY19 Budget

FUND STRUCTURE

The accounting and budgeting system of the City of Colleyville is organized on a fund
basis. A fund may be defined as an accounting entity with a separate set of self
balancing accounts which comprise its assets, liabilities, fund balance, revenues and
expenditures. The following types of funds are used by the City:

GOVERNMENTAL FUNDS are budgeted on a modified accrual basis. Revenues are
budgeted when they will be both measurable and available. Available means
collectible within the current period or 60 days thereafter to be used to pay the
liabilities of the current period. Expenditures are budgeted for when the liability is
expected to be incurred.

GENERAL FUND Accounts for the many operations of the City such as
public safety, public works, community development,
parks and general administration. This fund includes all
financial resources other than those required to be
accounted for in another fund. There is a legally
adopted annual budget for this fund.

DEBT SERVICE FUND Accounts for the accumulation of resources for and the
payment of, general long term debt principal, interest,
and related costs. There is a legally adopted annual
budget for this fund.

CAPITAL PROJECT FUND Accounts for financial resources to be used for the
acquisition or construction of major capital facilities.

SPECIAL REVENUE FUND Accounts for the revenues and expenditures associated
with a special project or purpose. The Colleyville Crime
Control and Prevention District (CCCPD) Fund and the
Colleyville Economic Development Corporation (CEDC)
Fund have legally adopted annual budgets.

PROPRIETARY FUNDS budgeted on a full accrual basis. Under this method
revenues are budgeted in the period when earned and expenses are budgeted in the
period when they are expected to occur.

ENTERPRISE FUNDS Accounts for operations that are financed in a manner
similar to private business enterprises where the intent
of the governing body is that the costs of providing
goods or services be financed or recovered through
charges to the user. The Utility Fund and Drainage
Utility Fund are examples of this type of fund. The Utility
Fund provides water and sewer services and the
Drainage Utility Fund provides for maintenance of
drainage facilities. There is a legally adopted annual
budget for each of these funds.

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