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NOTE 1 — SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) <br />Private Developer Special Revenue Fund — This fund is used to account for monies deposited from <br />developers to offset city administrative costs. <br />Federal Relief Special Revenue Fund — This fund is used to account for the funds received from the <br />Coronavirus State and Local Fiscal Recovery Funds (SLFRF), authorized by the American Rescue Plan <br />Act of 2021. <br />State -Aid Construction Capital Project Fund — This fund is used to account for state -aid allotments <br />used by the City for improvement projects to thoroughfare roads within the City. <br />Pavement Management Program Capital Project Fund — This fund is used to account for the <br />resources to be used for road reconstructions and overlays per the City's Pavement Management <br />Program. <br />Public Works Campus Capital Project Fund — This fund is used to account for the resources to be <br />used for the construction of the public works campus. <br />The City reports the following Major Proprietary Funds: <br />Water Utility Fund — This fund is used to account for the operation of the city -owned water system. <br />Sewer Utility Fund — This fund is used to account for the operation of the city -owned sewer system. <br />Street Light Utility Fund — This fund is used to account for the operation of city -owned streetlights <br />within subdivisions and the priority streetlights throughout the City. <br />Recycling Utility Fund — This fund is used to account for the operation of the City's curbside recycling <br />program and annual recycling days. <br />Storm Water Utility Fund — This fund is used to account for the operation of the city -owned stoini <br />water system repair and upkeep. <br />The City also reports the following fund types: <br />Internal Service Fund — This fund is used to account for the City's insurance refunds, dividends, and <br />other miscellaneous insurance related revenues, and to provide for self -insuring the deductible portions <br />of the City's insurance policies <br />Custodial Fund — This fund is used to account for property purchased on behalf of the state and the <br />related liability for future state highway improvements. <br />64 <br />