Page 251 - City of Watauga FY22 Adopted Budget
P. 251
PROPIETARY FUNDS
Storm Drain Utility Enterprise Fund
The Storm Drain Utility Enterprise is a proprietary fund. Its purpose is to account for
operations that are financed and operated in a manner similar to private business
enterprises where the intent of the City Council is that cost of providing services to the
general public on a continuing basis be financed or recovered primarily through use
charges.
This fund is used to account for user fees charged per residential and commercial unit to
enhance drainage of properties within the City. All activities necessary to provide such
services are accounted for in this fund, including but not limited to, administration,
operations and maintenance.
Accounting records for the Storm Drain Utility Fund are maintained on the accrual basis.
Where Does the Money Come From?
Where Does the Money Go?
242
