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DESCRIPTION OF OPERATING FUNDS
FY 2021-22
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 the combined General Fund and the Debt Service Fund.
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