ACFR - FY2020 5-28-21 FINAL - Flipbook - Page 26
The governmental activities of the City include:
1. General Government
2. Public Safety
3. Physical Environment
4. Transportation (Streets & Highways)
5. Culture and Recreation
The business-type activities of the City include the Water and Sewer Utility Fund. Solid waste is franchised to
an independent contractor.
The government-wide financial statements do not include any component units which would be reported
separately. The City does, however, have three blended component units. These are represented as part of
the audited financial statements of the City. The units include the Fire and Police Retirement Funds as well as
the City of Eustis Community Redevelopment Trust Fund, which is also known as the Community
Redevelopment Area (CRA) including Downtown and East Eustis.
The government-wide financial statements can be found on pages 41-43 of this report.
Fund financial statements – The fund financial statements provide a more detailed look at the City’s most
significant activities. A fund is a grouping of related accounts that is used to maintain control over resources
that have been segregated for specific activities or objectives. The City, like other state and local governments,
uses fund accounting to ensure and demonstrate compliance with finance related legal requirements. All of
the funds of the City can be divided into three categories:
1. Governmental Funds
2. Proprietary Funds
3. Fiduciary Funds
Governmental Funds – Governmental funds are used to account for those functions reported as governmental
activities in the government-wide financial statements. Most of the City’s basic services are accounted for in
governmental funds. However, unlike the government-wide financial statements, governmental fund financial
statements focus on near-term inflows and outflows of spendable resources, as well as on balance of
spendable resources available at the end of the fiscal year. Such information may be useful in evaluating 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 useful 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. Both 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 in the governmental fund statement of revenues, expenditures, and
change in fund balances for the General Fund, four special revenue funds, andone capital projects fund, all of
which are considered to be major funds. Data from the other six funds are combined into a single, aggregated
presentation. Individual fund data for each of these non-major governmental funds is provided in the form of
combining statements elsewhere in this report.
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