ACFR FY 2022 FINAL BOOK - Flipbook - Page 115
FINANCIAL SECTION
City of Eustis, Florida
NOTES TO FINANCIAL STATEMENTS
Note 13 - Interfund Transactions
Interfund transfers usually are recurring and approved by City Commission during the budget
process or by separate resolutions� Transfers from the water and sewer system fund to the general
fund support general government operations� Other transfers are for debt service requirements
and City grant matches� Greenwood cemetery transfer is the transfer from the General Fund for
the cemetery lot sales� In FY 2022, water and sewer impact fees were waived for the new residential construction to stimulate City’s business development� The adequate amount of impact fees was
transferred from the Water and Sewer fund to Water and Sewer Impact Fee funds�
Interfund transfers on September 30, 2022, consist of the following:
Transfers Out
Governmental Funds
Major Funds
General Fund
Stormwater Utility
Nonmajor Funds
Greenwood Cemetery
Impact Fee
Total Governmental Funds
General
Fund
$
Enterprise Funds
Water and Sewer
Water Impact
Sewer Impact
Total Enterprise Funds
Total Transfers
Major Funds
Street
Community
Improvement Redevelopment
$
- $
-
795,000 $
260,000
Nonmajor
Funds
Greenwood
Cemetery
Total
Transfers
486,418 $
-
6,882 $
-
1,288,300
260,000
1,003
6,364
7,367
1,055,000
486,418
6,882
1,003
6,364
1,555,667
3,658,316
4,445
13,482
3,676,243
-
-
-
3,658,316
4,445
13,482
3,676,243
3,683,610 $
1,055,000 $
486,418 $
6,882 $
5,231,910
Note 14 - Contingent Liabilities
Under the terms of federal and state grants and loans, periodic audits are required, and certain
costs are questionable, as not allowable as expenditures under the terms of the grants, which could
lead to reimbursement to the grantor agencies� City management believes disallowances, if any,
will not be material�
The City is involved in legal actions that will not have a material effect on the City’s financial statements in the opinion of management�
Annual Comprehensive Financial Report | September 30, 2022
115