Comprehensive Annual Financial Report 2020

VI.
INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS
Interfund transfers made during the fiscal year were as follows:
Transfer From Transfer To Amount
Industrial Development Corporation General Fund $ 536,825
Industrial Development Corporation Non-Major Governmental 2,500,000
Economic Development Corporation General Fund 196,285
Non-Major Governmental General Fund 21,115
Total $ 3,254,225
The transfers to the General Fund from the Industrial Development Corporation and Economic
Development Corporation consisted of annual transfers to for contract services in the amounts of
$536,825 and $196,285, respectively. In addition, $21,115 was transferred to the General Fund from
the Tourism Fund for rental fees. The Industrial Development Corporation transferred $2,500,000 to the
Parks Improvement Fund for upcoming projects.
Interfund receivables and payables as of September 30, 2020 were as follows:
Receivable Fund Payable Fund Amount
Economic Development Corporation General Fund $ 287,844
Non-Major Governmental 2019 CO Bond Fund 380,234
Non-Major Governmental Non-Major Governmental 164,805
Non-Major Governmental General Fund 124,107
Total $ 956,990
The outstanding balances between funds result mainly from the time lag between the dates that (1)
interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are
recorded in the accounting system, and (3) payments between funds are made.
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