Page 32 - CityofColleyvilleFY23AdoptedBudget

City of Colleyville, TX Budgetary Fund Structure

The accounting and budgeting system of the City of Colleyville is organized on a fund basis. A fund may be de ned as an
accounting entity with a separate set of self-balancing accounts which comprise its assets, liabilities, fund balance, revenues
and expenditures. The following types of funds are used by the City:

FUNDS are budgeted on a modi ed accrual basis. Revenues are budgeted when they will be both
GOVERNMENTAL
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 nancial 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.

GENERAL CAPITAL PROJECT FUND Accounts for nancial resources to be used for the acquisition or construction of major
capital facilities. Each year, the City Council adopts a rolling 5-year Capital Improvement Plan (CIP). The General Capital Project
Fund houses many of the projects adopted through the CIP, but does not have an annual operating budget.

City of Colleyville | Budget Book 2023 Page 32