Page 115 - Microsoft Word - Budget FY 19
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CITY OF FOREST HILL
SALES TAX ENTITIES
COMMUNITY DEVELOMENT CORPORATION FUND
The Community Development Corporation Fund is a special revenue fund type and its uses of sales tax revenues
are restricted by State Law for community and economic development. The programs of the fund are administered
by the Community Development Corporation Board appointed by the City Council.
The Community Development Corporation Fund also includes and inter‐fund transfer to the Debit Service Fund to
provide 100% of the annual debt service payment requirements for the Series 2014 general obligation refunding
bonds.
STREET IMPROVEMENTS SALES TAX FUND
The street improvement fund accounts for the use of sales tax that is restricted for the use of street repairs and
maintenance in the City. The fund also provides resources for the Streets‐CIP Program via budgeted inter‐fund
transfer to the capital projects fund.
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