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NOTE 2 - DEPOSITS AND INVESTMENTS (CONTINUED) The 4M Liquid Asset Fund is an external investment pool not registered with the Securities Exchange Commission (SEC) that follows the same regulatory rules of the SEC under rule 2a7. The fair value of the position in the pool is the same as the value of the pool shares. NOTE 3 - INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS A. Short-Term Interfund Receivables/Payables Individual interfund due from and to other funds at year-end were as follows: Receivable Fund Nonmajor Governmental Fund Economic Development Authority Special Revenue Fund Payable Fund Nonmajor Governmental Fund Community Development Block Grant Special Revenue Fund This internal loan was utilized for cash flow purposes. B. Advances To and From Other Funds Individual interfund advances to and from other funds at year-end were as follows: Amount $ 146,936 Receivable Fund Payable Fund Landfill Special Revenue General This advance was to internally finance a facility loan. C. Interfund Transfers Amount $ 489,989 Tr~s~rsIn Transfers Out General Tax Equipment Public Sunwood Drive/ Increment Revolving Improvement Rhinestone Special Special Revolving Street Nonmajor Revenue Revenue Capital Projects Capital Projects Govemmental Total GeneralFund $ - $ - $ 490,600 $ 58,967 $ - $ 446,410 $ 995,977 Tax Increment Special Revenue Fund - 7,539 - - 757,000 1,498,027 2,262,566 Equipment Revolving Special Revenue Fund 280,224 .... 398,098 678,322 Public Improvement Revolving Capital Projects Fund 125,000 .... 151,682 276,682 Nonmajor Governmental Fund 689,056 - - 17,030 - 286,984 993,070 Proprietary Fund 47,000 ..... 47,000 $ 1,141,280 $ 7,539 $ 490,600 $ 75,997 $ 757,000 $ 2,781,20I $ 5,253,617 Transfers are used to move revenues from the funds in which they are collected to the funds where they are to be spent in accordance with statutory, budgetary or contractual requirements. Transfers are made in accordance with the budget or as approved by the City Council. -37-