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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 />Revolving Acquisition Loan Fund (RALF) Funded Projects Capital Project Fund – This fund is <br />used to account for resources and expenditures related to the purchase of property for future state road <br />development. <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 />Park Improvement Capital Project Fund – This fund is used to account for all park dedication fees <br />to be used for land acquisition and park development. <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 storm <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