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o Debt Service Funds - are used for accumulation of resources to <br /> tm~y for paving streets, se~ers, water syst~s, etc. <br /> o Capital Project Funds - are used to cover projects t.~at will span <br /> more than one year. The budget for a project is established at <br /> the time of the project approval for the entire project and not <br /> on an annual basis. <br /> o Enterprise Funds - ~re used to account for the operations of <br /> self-supporting governmental activities which render services or <br /> goods to the public. <br /> o Trust and Agency Funds - are used to account for assets held by a <br /> government in a trustee or agent capacity for individuals, <br /> private organizations, other governments, or other funds. Mr. <br /> Hartley detailed ~808 Administrative Trust Fund as an ex~.~ple. <br />Handout D: General Fund Comparative Balance Sheet and Statement of Revenues, <br /> Expenditures, and Changes in Fund Balance - Budget and Actual. <br /> Regarding Handout D, Mr. Hartley stated that it is important to <br /> remember that the Balance Sheet is like a snapshot of financial <br /> position; it is a picture at a given time. The sheet of Revenues <br /> and Expenses shows the activity that takes place during the year. <br /> <br />B~T DISCUSSIONS <br /> <br />At this time, Councilmember Cox asked if someone would attempt to reach <br />Counci~ber Pearson for the purpose of reminding him of the meeting and asking <br />him if he could possibly still make it. CounciLmember Cox stated that this w~s <br />too important of a topic not to be considered and acted upon by all <br />CounciLmemb=~s. <br /> <br />Mayor Reimann called a recess at 8:05 p.m. to allow opportunity to reach <br />Counci~_r Pearson. <br /> <br />The meeting was reconvened at 8:30 p.m. upon the arrival of Councilmember <br />Pearson. <br /> <br />~ Hartley continued his review cf ~he ~= .... ~ h~n~outs as follows: <br /> <br />Haniouu E: L=tu-~ from Tom. Holton, ~ ..... :'-- ..... <br /> <br /> !988 ~a~ge: ~'.~:~ f.~c~ ~n~ic' ~velc~nz_ A~ivi:ies. <br />~ndout G: City_ Summary_ cf Park Prc~%~=~ Cost an~ Available Fund Balance <br /> So'~c~. <br /> <br /> r~nc Provision cf D.annzn~ aha cierir~l =u~mm~- =ervi_~s uc <br /> ~= City of <br /> <br />Counciimember Cox asked if Dark mroiect costs ~n~ =~n~ng could be address~2. <br /> Reviewed H~_ndout G ~_, ~'~r=~, of o~k Project Costs ~nd Available <br /> <br />Paae 3 of 7 <br /> <br /> <br />