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NOTE 4 — INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS <br />A. Short -Term Interfund Receivables/Payables <br />Individual interfund due from and to other funds at year-end were as follows: <br />Receivable Fund <br />Nonmaj or Governmental Fund <br />Economic Development Authority <br />Special Revenue Fund <br />Payable Fund Amount <br />Ma j or Governmental Fund S 28470 <br />Tax Increment <br />Special Revenue Fund <br />This internal loan was utilized for cash flow purposes. <br />B. Advances To and From Other Funds <br />Individual interfund advances to and from other funds at year-end were as follows: <br />Receivable Fund <br />Major Enterprise Fund; <br />Water Utility <br />Payable Fund <br />Nonmaj or Capital Project Fund; <br />Public Facilities Construction <br />Amount Purpose <br />$ 2581148 Internally finance facility loan <br />The fund is to be repaid by 2028 with a stated rate of interest of 2%. <br />C. Interfund Transfers <br />Transfers In <br />Water <br />Nonmaj or Utility <br />General Governmental Enterprise <br />Transfers Out Fund Funds Fund Total <br />General Fund $ - $ 190,881 $ 61,853 $ 252,734 <br />Nonmajor Governmental Funds 415,182 6,563 - 421,745 <br />Water Utility Enterprise Fund 49,000 - - 49,000 <br />Sewer Utility Enterprise Fund 43,000 - - 43,000 <br />Street Light Utility Enterprise Fund 25,000 - - 25,000 <br />Storm Water Utility Enterprise Fund 38,000 - - 38,000 <br />Total $ 570,182 $ 197,444 $ 61,853 $ 829,479 <br />The interfund receivables, payables and transfers are used to move funds to finance various programs or <br />projects that the City must account for in other funds in accordance with budgetary authorizations and to <br />move revenues from the fund with collection authorization to funds where related expenditures are <br />occurring. Interfund activity is eliminated as needed for entity -wide financial statement reporting. <br />74 <br />