Page 269 - Hurst Budget FY21
P. 269
OTHER FUNDS
INTERNAL SERVICE 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.
DEBT SERVICE FUND
The Debt Service Fund's purpose is to provide for principal and interest payments for the City's
General long-term debt obligations. There is a comprehensive analysis of policies and
projections concerning the City's tax-supported debt in this section.
SPECIAL REVENUE OR RESTRICTED FUNDS
The sixteen 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 Court Building
Security Fund, the Municipal Court Technology Fund, the Juvenile Case Manager Fund, the
Commercial Vehicle Safety Fund, the Traffic Signal Safety Fund, the Cable and Video Provider
PEG Fee Fund, the Storm Drainage Management Fund, Loss Reserve Fund, CARES Act Fund,
the Community Services Half Cent Sales Tax Fund, and the Anti-Crime Half Cent Sales Tax
Fund. They were established to account for the proceeds of specific revenue sources that are
restricted to expenditures for specific purposes. Descriptions and financial information are
located in this section.
OTHER PROPRIETARY OR ENTERPRISE FUNDS
The provision of water and wastewater services has historically been the City’s only proprietary
or enterprise operation. As such, the City’s budget continues to label water and wastewater
operations as the “Enterprise Fund.” The City opened a state-of-the-art conference center as its
second proprietary or enterprise operation. Staff will continue to classify water and wastewater
operations as the City’s Enterprise Fund, but will also account for the Hurst Conference Center
Fund as an enterprise fund. A detailed description and financial information are located in this
section.
257
