Page 42 - Saginaw FY22 Adopted Annual Budget

CAPITAL PROJECTS FUND
The Capital Projects Fund is used to account for the financing and construction of Governmental Fund
projects funded by general obligation bonds, certificates of obligation bonds, tax notes or cash
balances.

ENTERPRISE FUND
The Enterprise Fund is used to account for operations of the City’s water and sewer activities that are
financed and operated in a manner similar to those of private business enterprises. Services of the
Fund are intended to be self-supporting through user charges. The Enterprise Fund reimburses the
General Fund for operating expenses such as building rental, data processing, and other administrative
expenses.

SPECIAL REVENUE FUNDS
Special Revenue Funds account for resources restricted for specific purposes. This restriction may be
legal or administrative. Saginaw’s Special Revenue Funds consist of the CCPD (Crime Control and
Prevention District) Fund, the Police Expendable Trust Fund, the Drainage Utility Fund, the Street
Maintenance Fund, the General Government Escrow Fund, the Water/Wastewater Escrow Fund, and
the Donations Fund.

 The CCPD Fund is used to track revenues from sales tax designated for this fund and
expenditures related to the CCPD. The General Fund will be reimbursed for a portion of police
officer salaries from this fund.

 The Police Expendable Trust Fund accounts for confiscated and asset forfeitures that are
awarded to the City and approved expenditures.

 The Drainage Utility Fund is used to account for operation of the City’s drainage facilities.
Services of the Fund are intended to be self-supporting through fees assessed on properties
based on the storm water runoff they produce. The Drainage Utility Fund reimburses the
General Fund for the salary and benefits of two maintenance workers and the Enterprise Fund
for one half the salary and benefits of both the Environmental Manager and Environmental
Technician.

 The Street Maintenance Fund tracks the revenues and expenditures from sales tax designated
for street maintenance. Voters approved the adoption of a local sales and use tax at the rate of
one-eighth of one percent to provide revenue for maintenance and repairs of existing municipal
streets. These revenues cannot be used for building new streets. The City began receiving
revenues in the latter part of 2008.

 The General Government Escrow Fund is used to track receipts that are to be used for a specific
purpose. Examples of revenues and expenditures in this fund are hotel/motel tax, court
technology fees, court security fees, insurance deductibles, and gas production proceeds.

 The Water/Wastewater Escrow Fund is used to track receipts related to the utility operations
that are to be used for a specific purpose. Examples of revenue in this fund are water and sewer
impact fees.

 The Donations Fund is used to track revenues received through donations for specific purposes
and the expenditure of these funds. Currently, donations are received for the Animal Shelter,
Library, Parks, Beautification, the Senior Center, Police, Fire, and the Train & Grain Festival.

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