Page 110 - HaltomCityFY26Budget

City Of Haltom City Adopted Budget, FY2026 Supplemental Information

The operations of each fund are summarized as follows:

1. Governmental Fund Types
o General Fund: The General Fund is the operating fund of the City. All general
tax revenues and other receipts that are not restricted by law or contractual
agreement to some other fund are accounted for in this fund. The General
Fund records general operating expenditures, fixed charges, and capital
improvement costs that are not paid through other funds.
o Debt Service Fund: The Debt Service Fund is used to account for monies
accumulated for the payment of principal, interest, and related costs of
general long-term liabilities paid from taxes levied by the City. This is
administered by the Finance Department and considered a Finance
function.
o Special Revenue Funds: The Special Revenue Funds are used to account
for specific revenue sources that are legally restricted to expenditure for
specified purposes. Financing is provided by program charges,
contributions, hotel occupancy tax, sales tax, and cable franchise fees. See
Appendix I for a list.
o Capital Projects Funds: The Capital Projects Funds are used to account for
the financing and construction of major capital facilities. Financing is
provided primarily by the sale of general obligation or certificate of obligation
bonds, sales tax, and transfers from other funds.
2. Proprietary Fund Types
o Enterprise / Business-Type Funds: This fund type is used to account for the
provision of fee-based services to residents of the City. These funds include
the Water and Sewer Fund and the Drainage Fund. All activities necessary to
provide such services are accounted for in this fund, including, but not
limited to, public works administration, environment services, operations,
maintenance, financing, and related debt service.

Accounting and Budgetary Reporting

• Accounting and Financial Reporting: Haltom City’s accounting and financial
reporting system follows the principles established by the Governmental
Accounting Standards Board (GASB). An annual audit of the City’s system is
performed by an independent public accounting firm with the subsequent issuance
of a comprehensive annual financial report.
• Basis of Accounting:
o The City’s accounting records for the Water and Sewer Fund and the
Drainage Fund are maintained on an accrual basis whereby revenues and