Complete Document - City of Auburn

City of AuburnDescription City of All of Budgeted Auburn FundsDescription of All Budgeted FundAnnual budgets are adopted each fiscalyear for the funds described here.All governmental funds are budgetedand accounted for using the modified accrualbasis of accounting. Their revenues arerecognized when received in cash, except thoseaccruable, which are recorded as receivableswhen measurable and available to pay currentperiod liabilities. Expenditures are recognized ona modified accrual basis. Governmental funds’expenditures are recorded with the associatedliability is incurred, with the following exceptions:general long-term obligations’ principal andinterest are reported when due; prepaid items arereported as current period expenditures; costs ofaccumulated unpaid vacation and sick leave arereported in the period due and payable ratherthan in the period earned.The City’s proprietary funds areaccounted for on the full accrual basis, whereinrevenues are recorded when earned andexpenses when incurred. For managementcontrol purposes, the proprietary funds’ expensesare budgeted on the accrual basis with theexception that capital outlays and repayments ofdebt principal are budgeted as expenses.……………………………………………….……………………Governmental FundsGeneral Fund is the general operating fund of theCity. It is used to account for all financial resourcesexcept those required to be accounted for in anotherfund. The General Fund accounts for the financing ofpublic improvements or services deemed to benefitthe properties against which special assessments arelevied.City Gasoline Tax Special Revenue Fund accountsfor one-half of the revenues received from the City’stwo-cent gasoline tax and disbursements related tothe construction of and improvements to streets.Seven Cent State Gas Tax Special Revenue Fundaccounts for funds received from the State ofAlabama and disbursed for street related projects.Nine Cent Gas Tax Special Revenue Fund accountsfor Auburn’s share of the State of Alabama four centand five cent gas tax revenues, which aredisbursed for the resurfacing, restoration of roads,bridges and streets.Special School Tax Special Revenue Fundaccounts for eleven mill ad valorem tax revenuesused to pay principal and interest on bonds issued forschool purposes.Special Additional School Tax Special RevenueFund accounts for five mill ad valorem tax revenuesused for the furtherance of education.Public Safety Substance Abuse PreventionSpecial Revenue Fund accounts for funds receivedfrom the U.S. Marshal used for enforcement of lawsagainst drug trafficking.CDBG Grant Special Revenue Fund accounts forgrants from the Dept. of Housing and UrbanDevelopment to be used for Community DevelopmentBlock Program projects.Special 5-Mill Tax Debt Service Fund accounts forgeneral property tax receipts used to pay principal andinterest on voted bonds of the City.General Obligation Refunding Street ImprovementWarrants (GORSIW) Series 76 Debt Service Fundaccounts for payments of principal and interest onG.O. refunding street improvement warrants issued in1976...........................................................................................Proprietary FundsSewer Enterprise Fund accounts for revenue earnedfrom and costs related to the provision of sewerservice.ACDI Enterprise Fund accounts for rental revenuereceived from and costs incurred for the operation ofthe Auburn Center for Developing Industries.Sewer Equipment Replacement Enterprise Fundaccounts for original funds deposited with the City bythe partner in the privatization of the City’s wastewatertreatment plants to provide financing for replacementequipment needed for treatment plant operations.Industrial Park Enterprise Fund accounts for theacquisition and financing of property held for futureeconomic development.Employee Benefit Self-Insurance Internal ServiceFund accounts for the costs of operating and thereserves provided for the City’s self-insured employeebenefits program.Liability Risk-Retention Internal Service Fundaccounts for the costs of operating and the reservesprovided for the City’s general liability and workerscompensation self-insurance program.68