ACFR - FY2020 5-28-21 FINAL - Flipbook - Page 27
The City adopts an annual appropriated budget for its General Fund, as well as all of the special revenue funds
and the capital projects fund. A budgetary comparison statement has been provided for the General Fund to
demonstrate compliance with this budget.
The basic governmental fund financial statements are presented on pages 44-47 of this report.
Proprietary Funds – The City maintains only one type of proprietary fund. Enterprise funds are used to 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 type of information as the government wide financial statements, only in
more detail. The proprietary fund financial statements provide information for the Water and Sewer System,
which is considered a major fund of the City
The basic proprietary fund financial statements are presented on pages 49-55 of this report.
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 own 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 that is essential to a full
understanding of the data provided in the government wide and fund financial statements. The notes to the
financial statements begin on page 58 of this report.
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). Required supplementary information
can be found beginning on page 109 of this report.
The combining statements referred to earlier in connection with non-major governmental funds are presented
immediately following the required supplementary information on pensions and OPEB. Combining and
individual fund statements and schedules can be found starting on page 125 of this report.
Official statistical information that provides quantitative or qualitative information on all major areas of City of
Eustis community, such as economic and social development, living conditions, water and sewer usage and
rates, taxes, education, and the environment can be found on page 136 of this report.
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