Page 53 - City of Colleyville FY22 Adopted Budget

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. All
funds listed in this section are considered major operating funds, although the City has
minor funds not budgeted annually. The following types of funds are used by the City:

GOVERNMENTAL FUNDS are budgeted annually 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 annually 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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