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- 3 - <br /> <br />separate fund activity under one main A~nual <br />Improvement Fund. All assets, liabilities, fund <br />equity, payments and revenues shall be maintained <br />as separate accounts for each activity. <br /> <br />The Annual Improvement Fund is not eligible for <br />interfund loans. As each individual fund activity <br />(for a set group of improvement projects) is <br />closed, the remaining fund equity shall be <br />transferred to the corresponding Debt Service <br />Fund. <br /> <br />PROPRIETAUY FUBDS <br /> <br />ENTERPRISE FUNDS <br /> <br />Enterprise Funds shall be used to account for <br />operat ions: <br /> <br />That are financed and operated in a manner <br />similar to private business enterprises--where <br />the intent of the Council is that the costs <br />(expenses, including depreciation) of \ <br />providing goods or services to the general <br />public on a continuing basis be financed or <br />recovered primarily through user charges; or <br /> <br />be <br /> <br />Where the Council has decided that periodic <br />determination of revenues earned, expenses <br />incurred, and/or net income is appropriate <br />for capital maintenance, public policy, <br />management control, accountability, or other <br />purposes. <br /> <br />· WATER UTXLXTY FUND <br /> <br />The Water Utility Fund shall be used to account for <br />all water utility revenues and expenses. <br /> <br />The Water Utility Fund is eligible for interfund <br />loans to and from any other fund. <br /> <br />UTILITY FUND <br /> <br />The Sewer Utility Fund shall be used to account for <br />all sewer utility revenues and expenses. <br /> <br />The Sewer Utility Fund is eligible for tnterfund <br />loans to and from any other fund. <br /> <br />]! <br /> <br />I. IHTmNAY- S~VICE FUNDS <br /> <br />Internal Service Funds are used to account for the <br /> <br /> <br />