Complete Document - City of Auburn
Complete Document - City of Auburn
Complete Document - City of Auburn
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>City</strong> <strong>of</strong> <strong>Auburn</strong>Description <strong>of</strong> and Trends in Special Revenue FundsDescription <strong>of</strong> Special Revenue FundsSpecial revenue funds are operating funds used to account for the proceeds <strong>of</strong> specificrevenue sources that are legally restricted to be spent for specific purposes. Generally acceptedaccounting principles require these separate Special Revenue Funds, which demonstratecompliance with the legal restrictions on the use <strong>of</strong> these revenues. The <strong>City</strong> <strong>of</strong> <strong>Auburn</strong> budgets forthe following special revenue funds:<strong>City</strong> Gasoline Tax Fund accounts for one-half <strong>of</strong> the revenues received from the <strong>City</strong>’s two-cent gasolinetax and disbursements related to the construction <strong>of</strong> and improvements to streets.Seven Cent State Gas Tax Fund accounts for funds received from the State <strong>of</strong> Alabama and disbursed forstreet related projects.Nine Cent Gas Tax Fund accounts for <strong>Auburn</strong>’s share <strong>of</strong> the State <strong>of</strong> Alabama four cent and five cent gastax revenues which is disbursed for the resurfacing, restoration <strong>of</strong> roads, bridges and streets.Special School Tax Fund accounts for eleven mill ad valorem tax revenues used to pay principal andinterest on bonds issued for school purposes.Special Additional School Tax Fund accounts for five mill ad valorem tax revenues used for thefurtherance <strong>of</strong> education.Public Safety Substance Abuse Prevention Fund accounts for funds received from the U.S. Marshal usedfor enforcement <strong>of</strong> laws against drug trafficking.CDBG Grant Fund accounts for grants from the Dept. <strong>of</strong> Housing and Urban Development to be used forCommunity Development Block Program projects.$20,000,000$18,000,000$16,000,000$14,000,000$12,000,000$10,000,000$8,000,000$6,000,000$4,000,000$2,000,000$-FY 04* FY 03* FY 02^ FY 01** FY 00**Beginning Fund Balances Revenues & OFS Expenditures & OFU Ending Fund Balances* Budgeted amounts^ Actual amounts, unaudited**Actual amounts, auditedNote: Fiscal Year 2002 revenue and other financing sources include proceeds <strong>of</strong> a refunding debt issuance and theFY02 expenditure and other financing uses include payments to refund long-term debt.242
Change language