Page 41 - Microsoft Word - Budget FY 19
P. 41

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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