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determined at the end of each fiscal year. Any reservations of fund balance
are deducted to result in an "unreserved fund balance".

FUND TYPE: Governmental accounting has eight different fund types:
General, Special Revenue, Debt Service, Capital Projects, Permanent,
Enterprise, Internal Service, and Trust and Agency.

G

GENERALLY ACCEPTED ACCOUNTING PRINCIPALS (GAAP): Detailed
accounting standards and practices as prescribed by the Governmental
Accounting Standards Board.

GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB):
Established in 1984, the Governmental Accounting Standards Board is an
independent non-profit entity which sets accounting standards for state and
local government.

GENERAL FUND: The largest fund within the City, the General Fund
accounts for most of the financial resources of the government. General
Fund revenues include property taxes, licenses and permits, local taxes,
service charges, and other types of revenue. This fund usually includes
most of the basic operating services, such as fire and police protection, park
and recreation, public works, and general administration.

GENERAL OBLIGATION (G.O.) BONDS: Bonds that finance public projects
such as streets, municipal facilities, and park improvements. The repayment
of these bonds is made from property taxes, and the full faith and credit of
the issuing government back these bonds.

GOALS: Broad general statements of each department’s desired outcomes.

GOVERNMENTAL FUNDS: The funds through which most governmental
functions are typically funded.

I

IMPACT FEE: A fee from the City charged to developers to offset the cost of
new development. It is collected for infrastructure improvements.

INTEREST INCOME: The earnings from available funds invested during the
year in U.S. Treasury bills and notes, Government agencies, and local
government investment pools.

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