Page 106 - Benbrook FY20 Approved Budget
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CITY OF BENBROOK 2019-20 ANNUAL BUDGET
STATISTICAL
DESCRIPTION OF OPERATING FUNDS
FY 2019-20
GENERAL FUND
The General Fund is the main operating fund of the City. This fund is used to account for all financial resources not accounted for in other
funds. All general tax revenues and other receipts that are not restricted by law or contractual arrangement to some other fund are accounted
for in this fund. General operating expenditures, fixed charges, and capital improvement costs that are not paid through other funds are
paid from the General Fund.
DEBT SERVICE FUND
The Debt Service Fund is used to account for the accumulation of financial resources for the payment of principal, interest, and related costs
on general long-term debt paid primarily from taxes levied by the City. The fund balance of the Debt Service Fund is reserved to signify the
amounts that are restricted exclusively for debt service expenditures.
OPERATING FUNDS
The Operating Funds are combined General Fund and the Debt Service Fund.
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