Page 41 - Microsoft Word - Budget FY 19
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CITY OF FOREST HILL
action by the City Council, are adopted on an individual project basis, and may
be appropriated on a multi-year basis. General Capital Project funds are
accounted for and budgeted on the modified accrual basis.
Proprietary Fund Types
The Water and Sewer Fund account for revenues and expenses on a full
accrual basis. Water, sewer, and solid waste services are delivered to the
citizens of the City. The total operating, capital and debt costs are recovered from
the utility rates charged for the delivery of these services. The Water and Sewer
Operating Fund appropriations are adopted as part of the annual budget process.
The Water and Sewer Operating Fund is budgeted on the modified accrual
(working capital) basis.
Reconciliation between the net changes in working capital to the change in net
assets GAAP basis provided in the utility fund summary schedule in the
Enterprise Funds section of this document. Water and Sewer Fund capital
projects are not part of the annual budget process. Utility Capital Project Fund
appropriations require specific action by the City Council, are adopted on an
individual project basis, and may be appropriated on a multi-year basis.
Annual Publications
The Annual Program of Services is submitted to the Government Finance
Officers Association (GFOA) Distinguished Budget Award Program annually.
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