§ 3-3

(a) The City's funds are administered in accordance with the Principles of Governmental Accounting and Financial Reporting. Funds used in the government model are classified into three broad categories: governmental, proprietary and fiduciary. The three broad fund categories are subdivided into seven fund types for accounting and financial reporting purposes and are shown as follows. (b) Fund Types. The three broad categories are subdivided into seven fund types for accounting and financial reporting purposes. (1) Governmental Funds. (i) The General Fund - to account for all financial resources except those required to be accounted for in another fund. (ii) Special Revenue Funds - to account for the proceeds of specific revenue sources (other than expendable trusts or for major capital projects) that are legally restricted to expenditure for specified purposes. (iii) Capital Projects Funds - to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by proprietary funds and trust funds). (iv) Debt Service Funds - to account for the accumulation of resources for, and the payment of, general long- term debt principal and interest. (2) Proprietary Funds. (i) Enterprise Funds - to account for operations: (1) that are financed and operated in a manner similar to private business enterprises, where the intent of the governing body is that the costs (expenses including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (2) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy management control, accountability, or other purposes. (ii) Internal Service Funds - to account for the financing of goods or services provided by one department or agency to other departments or agencies of the governmental unit, or to other governmental units, on a cost- reimbursement basis. (3) Fiduciary Funds. (i) Trust and Agency Funds - to account for assets held by a governmental unit in a trustee capacity or as an agent for individuals, private organizations, other governmental units, and/or other funds. These include: (1) expendable trust funds; (2) non-expendable trust funds; (3) pension trust funds; and (4) agency funds.

CHAPTER 4: PROPERTY TAXES

CHAPTER 4: PROPERTY TAXES

3-4.01 Transfer of assessment and tax collection duties to County