Agenda - Council - 06/14/2022 - Laserfiche WebLink

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NOTE 3-INTERFUND RECEIVABLES,PAYABLES,AND TRANSFERS (CONTINUED) C. Interfund Transfers Transfers In State-Aid Water Construction Nonmajor Utility General Capital Governmental Enterprise Transfers Out Fund Project Fund Funds Fund Total General Fund $ - $ - $ 286,860 $ 61,853 $ 348,713 Tax Increment Special Revenue Fund - 166,000 - - 166,000 Nonmajor Governmental Funds 1,114,201 - - - 1,114,201 Water Utility Enterprise Fund 47,000 - 160,180 - 207,180 Sewer Utility Enterprise Fund 41,000 - 111,795 - 152,795 Street Light Utility Enterprise Fund 23,000 - - - 23,000 Storm Water Utility Enterprise Fund 36,000 - 63,804 - 99,804 Total $ 1,261,201 $ 166,000 $ 622,639 $ 61,853 $ 2,111,693 The Interfund receivables, payables and transfers are used to move funds to finance various programs or projects that the City must account for in other funds in accordance with budgetary authorizations and to move revenues from the fund with collection authorization to funds where related expenditures are occurring. Interfund activity is eliminated as needed for entity-wide financial statement reporting. In 2021, the General Fund transferred $122,940 each to the Public Improvement Revolving Fund and Equipment Revolving Fund and $40,980 to the Public Facilities Construction Fund for their respective shares as outlined in the City's Fund Balance Policy. The General Fund transferred$61,853 to the water fund for its annual repayment of the Municipal Center capital contribution. The Tax Increment Special Revenue Fund transferred $166,000 to the State Aid Construction Fund for capital purposes. The Public Improvement Revolving Fund transferred$125,000 to the General Fund for operating purposes. The Landfill Fund transferred$989,201 to the General Fund for capital equipment purchases. The Water Utility Fund transferred $47,000 to the General Fund for operating purposes and $160,180 to Riverdale Drive Street Improvement Fund for its share of water capital improvements. The Sewer Utility Fund transferred $41,000 to the General Fund for operating purposes and $111,795 to Riverdale Drive Street Improvement Fund for its share of sewer capital improvements. The Street Light Utility Fund transferred$23,000 to the General Fund for operating purposes. The Storm Water Utility Fund transferred$36,000 to the General Fund for operating purposes and$63,804 to the Riverdale Drive Street Improvement Fund for its share of storm water capital improvements. 73