Distrito Escolar del - Osceola County School District

Program revenues include charges paid by the recipient of the goods or services offered by the
program, and grants and contributions that are restricted to meeting the operational or capital
requirements of a particular program. Revenues that are not classified as program revenues are
presented as general revenues. The comparison of direct expenses with program revenues identifies
the extent to which each governmental function is self-financing or draws from the general revenues
of the District.
The effects of inter-fund activity have been eliminated from the government-wide financial
statements. Interfund services provided and used are not eliminated in the process of consolidation.
Fund Financial Statements - Fund financial statements report detailed information about the District
in the governmental, proprietary, and fiduciary funds. Governmental fund financial statements are
prepared using the current financial resources measurement focus. The focus of governmental fund
financial statements is on major funds rather than reporting funds by type. Each major fund is
reported in a separate column. Nonmajor funds are aggregated and reported in a single column.
Because the focus of governmental fund financial statements differs from the focus of governmentwide
financial statements, a reconciliation is presented with each of the governmental fund financial
statements. Proprietary and fiduciary fund financial statements are prepared using the economic
resources measurement focus.
The District reports the following major governmental funds:
• General Fund – to account for all financial resources not required to be accounted for in another
fund, and for certain revenues from the State that are legally restricted to be expended for
specific current operating purposes.
• Special Revenue – Other Federal Programs – to account for funds from the State or Federal
Government which are restricted for Federal programs.
• Special Revenue – ARRA Economic Stimulus Funds - to account for certain Federal grant
program resources related to the American Recovery and Reinvestment Act (ARRA).
• Debt Service – ARRA Economic Stimulus Funds – to account for the accumulation of resources
for, and the payment of, long-term debt principal, interest, and fees related to Qualified School
Construction Bonds.
• Capital Projects – Other Fund – to account for other miscellaneous funds from various sources
which are restricted for capital outlay purposes.
• Capital Projects – ARRA Economic Stimulus Funds – to account for ARRA Federal grant
resources to be used for educational capital outlay needs.
Additionally, the District reports the following proprietary and fiduciary fund types:
• Internal Service Funds – to account for the District's individual self-insurance programs.
• Agency Funds – to account for resources of the school internal funds which are used to
administer moneys collected at the several schools in connection with school, student athletic,
class, and club activities, and to account for the various resources of the Educational Facilities
Benefit District accounted for by the District.
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