Page 265 - Grapevine FY22 Adopted Budget v2

Fund - A fiscal and accounting entity with a self-balancing set of accounts in which cash and
other financial resources, all related liabilities and residual equities, or balances, and changes
therein, are recorded and segregated to carry on specific operations.

Description of Funds:

1 General Fund - Accounts for revenues and expenditures relating to the provisions of
services to the City such as Police, Fire, Public Works, Parks & Recreation, Administration,
Community Development, Finance, etc.

2. Utility Enterprise Fund - Accounts for all revenues and expenses relating to the operation of
the water and wastewater system and related capital construction.

3. Convention & Visitors Bureau Fund - Accounts for revenues and expenditures relating to
the use of hotel occupancy tax receipts. Because of restricted types of uses allowed for these
monies, they are accounted for in a separate fund.

4. Lake Enterprise Fund - Accounts for revenues and expenses relating to Golf Course
operations, maintenance and capital improvements for facilities around Lake Grapevine.

5. General Government Capital Projects Fund - Are those projects that do not meet the criteria
for Permanent Street or Capital Maintenance Funding and are typically funded with bond funds
or grants.

6. Capital / Street Maintenance Projects Fund - Include facility repairs or major maintenance
and other operating and equipment needs as well as street overlay programs, curb and gutter
repairs and traffic signals, signs and striping maintenance. Projects are designed to maintain a
five-year maintenance schedule and are funded out of an operational transfer from the general
fund.

7. Utility and Enterprise Projects Fund - (As with the General Government Capital Projects)
are projects for the Utility and Lake Enterprise Funds that do not meet the criteria for Permanent
Street or Capital Maintenance Funding. Funding sources for these projects are typically bond
funds or water and wastewater impact fees.

8. Debt Service Fund - Accounts for all monies involving payment of interest and principal on
General Obligation Bonds and Public Property Contractual Obligations.

9. Stormwater Drainage Utility Fund - This fund provides for the accounting of expenses and
revenues related to stormwater drainage administration, operations and capital improvements.

10. Lake Parks Special Revenue Fund – This fund accounts for all activities necessary to operate
and maintain park property on Lake Grapevine received from the U.S. Army Corps of Engineers.

Fund Balance - The difference between fund assets and fund liabilities of governmental and
similar trust funds.

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