Page 102 - Hurst FY19 Approved Budget

FUND DESCRIPTIONS

General Fund

The General Fund is the primary operating fund of the City. The General Fund is used
to account for all revenues and expenditures not accounted for in other designated
funds. It receives a greater variety and amount of revenues and finances a wider range
of governmental activities than any other fund. The General Fund is primarily supported
by the ad valorem tax, general sales tax, franchise taxes, licenses and permits fees, fines
and miscellaneous revenue sources. General Fund expenditures support the following
major functions: legislative & judicial services, administration, general services, fiscal
services, police, fire, public works and community services. All programs which are
justified, efficient and serve the needs of the community are adequately funded. Service
levels are increased substantially through indirect participation in the General Fund by
the Half Cent Sales Tax Fund and the Anti-Crime Tax Fund.

Enterprise Fund

The Enterprise Fund is used to account for the provision of water and wastewater
services to the residents of the City. All activities necessary to provide such services
are accounted for in this fund, including, but not limited to, administration, operations,
maintenance, financing and related debt service, billing and collection. The operations
of the Enterprise Fund are financed and operated in a manner similar to private business
enterprises where the expenses (including depreciation) of providing services are
recovered primarily through user charges.

Other Funds

The Internal Service funds are the Fleet Service Fund, the Information Technology Fund
and the Loss Reserve Fund. The Fleet Service Fund and Information Technology Fund
were established to charge user departments for vehicle and computer maintenance
and replacement costs, respectively. The self-funded Loss Reserve Fund records all
activity for the employee health care benefit program.

The Debt Service Fund’s purpose is to provide for principal and interest payments for
the City’s General long-term debt obligations.

The Fourteen Restricted Funds are the, the Special Projects Fund, the Hotel-Motel Tax
Fund, the Park Donation Fund, the Fire Grant Fund, the Police Grant Fund, the Municipal

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