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38d
The government reports the following major proprietary funds:
Enterprise Funds
- Enterprise Funds account for operations that are financed and operated in a manner similar to private
business enterprises where the intent of the governing body is that the costs of providing goods or services to the general
public on a continuing basis be financed or recovered primarily through user charges; or where the governing body has
decided that periodic determination of revenues earned, expenses incurred, and net income is appropriate for capital
maintenance, public policy, management control, accountability or other purposes.
The Water Resources Fund
provides water and sewer services to more than 100,000 customers and is designed to be self-
supporting. This fund also provides for principal and interest on all water and sewer debt. Outstanding Combined Enterprise
System revenue bonds are recorded in this fund.
The Stormwater Management Fund
was established to account for the federally mandated program of stormwater system
management, which is supported by a City-wide stormwater fee.
The War Memorial Coliseum Fund
administers operations of a complex that brings top artists in entertainment, education,
and sports to the City. The Coliseum Fund operation supports debt service on the financing agreements for energy
improvements at the facility.
The Solid Waste Management Fund
accounts for waste disposal and recycling operations of the City, as well as solid waste
landfill improvements. Outstanding special obligation bonds are recorded and supported in this fund.
The City’s parking operations are included in “Other Enterprise Fund”, a non-major fund.
Additionally, the government reports the following fund types:
Internal Service Funds
- Internal Service Funds account for the financing of goods or services provided by one department
or agency to other departments or agencies of the City, or to other governments, on a cost-reimbursement basis. The City
also accounts for its risk-retention transactions and equipment purchases financed with lease-purchase agreements in the
Internal Service Funds. Internal Service Funds of the City government (which traditionally provide services primarily to
other funds of the government) are presented in summary form as part of the proprietary fund financial statements. Since the
principal users of the Internal Service Funds are associated with the City’s governmental activities, financial statements of
Internal Service Funds are consolidated into the governmental activities column when presented at the government-wide
level. To the extent possible, the costs of these services are reflected in the appropriate functional activity.
Fiduciary Fund –
The Other Postemployment Benefit Trust Fund accounts for assets held by the City in a fiduciary capacity
and accumulates funds to provide certain health and life benefit payments to qualified retirees. This fund uses the accrual
basis of accounting and has a capital maintenance measurement focus. It is accounted for in essentially the same manner as
Proprietary Funds.
The City’s fiduciary fund (which has been redefined and narrowed in scope) is presented in the fund financial statements by
type (Other Postemployment Benefit Trust). Since by definition these assets are being held for the benefit of a third party
(retiree participants) and cannot be used to address activities or obligations of the government, this fund is not incorporated
into the government-wide statements.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements.
Exceptions to the rule are payments between the water resources and solid waste disposal funds and the General Fund.
Eliminations of these charges would distort the direct costs and program revenues reported for the various functions
concerned.
When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources first,
then unrestricted resources as they are needed.