Page 31 - Forest Hill FY22 Annual Budget

Fore�Hill

Enterprise / Proprietary Fund Types

The Water and Sewer Fund accounts for revenues and expenses on a full accrual basis. Water,
sewer, and solid waste services are delivered to the citizens of the City. The total operating,
capital and debt costs are recovered from the utility rates charged for the delivery of these
services. The Water and Sewer Operating Fund appropriations are adopted as part of the annual
budget process. The Water and Sewer Operating Fund is budgeted on the modified accrual
(working capital) basis.

Reconciliation between the net changes in working capital to the change in net assets GAAP
basis are provided in the utility fund summary schedule in the Enterprise Funds section of this
document. Water and Sewer Fund capital projects are not part of the annual budget process.
Utility Capital Project Fund appropriations require specific action by the City Council, are
adopted on an individual project basis, and may be appropriated on a multi-year basis.

Annual Publications

The Annual Program of Services is submitted to the Government Financial Officers
Association (GFOA) Distinguished Budget Award Program annually.

27