Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 102
Budget-In-Brief → buDgeT oVerView
major objectives in accordance with special regulations, restrictions, or limitations. Appropriated
funds are segregated by governmental funds and enterprise funds. Governmental funds are used
to account for most of the City’s tax-supported activities. Enterprise funds are used by the City to
account for revenue sources derived from fees charged to third parties to provide for ongoing operating and capital needs. The City has fiduciary funds which are not budgeted as these resources
are held by the government as a trustee and cannot be used to support the government’s own
programs.
Governmental-Type Funds
The City’s Governmental Funds consist of the General Fund, Special Revenue Funds, and Capital
Projects Funds.
General Fund
The General Fund is the general operating fund of the City. It is used to account for all financial
resources, except those required to be accounted for in another fund. Resources include taxes, franchise fees, state and local shared revenues, grants, fees, fines and forfeitures, charges for services,
and miscellaneous revenues. Services provided using these revenue sources in the General Fund
include general government, public safety, physical environment and transportation, and culture
and recreation.
Special Revenue Funds
Various special revenue funds are appropriated to specific revenue sources that are legally or
administratively restricted to expenditures for specified purposes. The following are the major
special revenue funds the City of Eustis appropriates:
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Street Improvement Fund – To account for monies received from motor fuel gas tax sources with
the sole purpose of maintenance of the streets and right-of-way within the city.
Community Redevelopment Trust Fund – To account for the financial resources and expenditures of the City’s special taxing district identified in the Community Redevelopment District.
Building Services Fund – To account for revenues generated by construction permit fees and
expenditures resulting from enforcement of the Florida Building Code.
Stormwater Utility Revenue Fund – Stormwater Utility Revenue Fund – User fees and other revenues related to stormwater charges. The fund is responsible for funding the operation, construction, and maintenance of stormwater management devices, stormwater system planning, and
management.
Capital Projects Funds
A Capital Improvement Plan (CIP) contains all the individual capital projects, equipment purchases,
and major studies for the City; in conjunction with construction and completion schedules, and in
consort with financing plans. The plan provides a working blueprint for sustaining and improving
the community’s infrastructures. It coordinates strategic planning, financial capacity, and physical
development. A CIP stands at the epicenter of City’s Public Works, Finance and City Manager’s
departments.
Capital project funds are utilized to account for major capital acquisition and construction activity
separately from the ongoing activities to avoid distortions in financial trend information that occurs
when capital and operating activities are mixed. Project funding process starts with departmental
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City of Eustis, Florida
Adopted Budget
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