ACFR FY 2022 FINAL BOOK - Flipbook - Page 27
City of Eustis, Florida
FINANCIAL SECTION
resources and the balance of spendable resources available at the end of the fiscal year� Such information may help evaluate a government’s near- term financing requirements�
because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is helpful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government-wide financial statements�
by doing so, readers may better understand the long-term impact of the government’s near-term
financing decisions� The governmental fund balance sheet and the governmental fund statement
of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this
comparison between governmental funds and governmental activities�
The City maintains twelve individual governmental funds� Information is presented separately in the
governmental fund balance sheet and the governmental fund statement of revenues, expenditures,
and changes in fund balances for the General Fund, four special revenue funds, and one capital
projects fund, considered major funds� Data from the other six funds are combined into a single,
aggregated presentation� Individual fund data for each non-major governmental fund is provided
by combining statements elsewhere in this report�
The City adopts an annual appropriated budget for its General Fund, special revenue funds, and
capital projects fund� The Annual report has provided a budgetary comparison statement to demonstrate compliance with this budget�
proprietary Funds – The City maintains only one type of proprietary fund� Enterprise funds report the
same functions presented as business-type activities in the government-wide financial statements�
The City uses enterprise funds to account for its Water and Sewer System operations�
proprietary funds provide the same information as the government-wide financial statements, only
more detailed� The proprietary fund financial statements provide information for the Water and
Sewer System, which is considered a major fund of the City�
Fiduciary Funds – Fiduciary funds are used to account for resources held for the benefit of parties
outside the government� Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the City’s programs� The
accounting for fiduciary funds is similar to proprietary funds� The fiduciary funds include pension
trust funds for police and fire�
Notes to The Financial Statements – The notes provide additional information essential to a complete
understanding of the data provided in the government-wide and fund financial statements�
Other Information – In addition to the basic financial statements and accompanying notes, this report
also presents certain required supplementary information concerning the City’s required contributions to provide pension benefits to its employees and post-employment benefits (OpEb)�
The combined statements with non-major governmental funds are presented following the required
supplementary information on pensions and OpEb�
Official statistical information that provides quantitative or qualitative information on all major areas of the
City of Eustis community, such as economic and social development, living conditions, water and wastewater
usage and rates, taxes, education, and the environment, can be found at the end of this report�
Annual Comprehensive Financial Report | September 30, 2022
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