Page 45 - FY2020Colleyville

FUND STRUCTURE

The accounting and budgeting system of the City of Colleyville is organized on a fund
basis. A fund may be defined as an accounting entity with a separate set of self-balancing
accounts which comprise its assets, liabilities, fund balance, revenues and expenditures.
The following types of funds are used by the City:

GOVERNMENTAL FUNDS are budgeted on a modified accrual basis. Revenues are
budgeted when they will be both measurable and available. Available means collectible
within the current period or 60 days thereafter to be used to pay the liabilities of the
current period. Expenditures are budgeted for when the liability is expected to be
incurred.

GENERAL FUND Accounts for the many operations of the City such as public
safety, public works, community development, parks and
general administration. This fund includes all financial
resources other than those required to be accounted for in
another fund. There is a legally adopted annual budget for
this fund.

DEBT SERVICE FUND Accounts for the accumulation of resources for and the
payment of, general long term debt principal, interest, and
related costs. There is a legally adopted annual budget for
this fund.

CAPITAL PROJECT FUND Accounts for financial resources to be used for the
acquisition or construction of major capital facilities.

SPECIAL REVENUE FUND Accounts for the revenues and expenditures associated
with a special project or purpose. The Colleyville Crime
Control and Prevention District (CCCPD) Fund and the
Colleyville Economic Development Corporation (CEDC)
Fund have legally adopted annual budgets.

PROPRIETARY FUNDS budgeted on a full accrual basis. Under this method revenues are
budgeted in the period when earned and expenses are budgeted in the period when they
are expected to occur.

ENTERPRISE FUNDS Accounts for operations that are financed in a manner
similar to private business enterprises where the intent of
the governing body is that the costs of providing goods or
services be financed or recovered through charges to the
user. The Utility Fund and Drainage Utility Fund are
examples of this type of fund. The Utility Fund provides
water and sewer services and the Drainage Utility Fund
provides for maintenance of drainage facilities. There is a
legally adopted annual budget for each of these funds.

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