ACFR FY 2023 Final - Flipbook - Page 27
City of Eustis, Florida
FINANCIAL SECTION
resources and the balance of spendable resources available at the end of the oscal year. Such information may help evaluate a government9s near-term onancing 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 Statementsÿ
by doing so, readers may better understand the long-term impact of the government9s near-term
onancing decisions. The governmental fund Balance Sheet and the governmental fund Statement
of Revenues, Expenditures, and Changes in Fund balance provide a reconciliation to facilitate this
comparison between governmental funds and governmental activitiesÿ
The City maintains twelve individual governmental fundsÿ 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, one special revenue fund, and one capital projects fund, all considered major fundsÿ Data from the other nine funds are combined into a single,
aggregated presentationÿ Individual fund data for each non-major governmental fund is provided
within combining statements elsewhere in this reportÿ
The City adopts an annual appropriated budget for its General Fund, special revenue funds, and
Capital projects Fundÿ This annual report provides a budgetary comparison statement to demonstrate
compliance with this budgetÿ
proprietary Funds 3 The City maintains only one type of proprietary fund, also called an enterprise
fundÿ The proprietary fund report is presented as business-type activities in the Government-Wide
Financial Statementsÿ The City uses a proprietary fund to account for its Water and Sewer System
operationsÿ
proprietary funds provide the same information as the Government-Wide Financial Statements, but
with more detail. The proprietary fund onancial statements provide information for the water and
sewer system, which is considered a major fund of the Cityÿ
Fiduciary Funds 3 Fiduciary funds are used to account for resources held for the beneot of parties
outside the governmentÿ Fiduciary funds are not reflected in the Government-Wide Financial
Statements because the resources of those funds are not available to support the City9s programsÿ
The accounting for oduciary funds is similar to that of proprietary funds. The City9s oduciary funds
include pension trust funds for police and ore.
Notes to The Financial Statements 3 The Notes provide additional information needed to present a
complete understanding of the data provided in the government-wide and fund onancial statements.
Other Information 3 In addition to the basic onancial statements and accompanying notes, this report
also presents certain required supplementary information concerning the City9s required contributions to provide pension beneots to its employees and post-employment beneots (OPEB).
The combined statements for non-major governmental funds are presented following the required
supplementary information on pensions and OpEbÿ
Ofocial statistical information that provides either 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 reportÿ
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Annual Comprehensive Financial Report | September 30, 2023
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