City Fund Accounting

Fund accounting is used throughout the City, both for budgeting and accounting. Under this system money is segregated into separate accounts, rather than being held in one central account. Each fund has been established for a specific purpose, and is somewhat like a separate bank account and in many cases is a separate account.
Those funds used to pay for operations, maintenance, and other ongoing activities are like checking accounts. Generally, revenues flowing into the fund are spent during the same year. Other funds are more like savings accounts. Money accumulates for periodic capital needs, such as construction of a new park or drainage improvements. The balance in those funds grows until an expenditure is made. Spending can vary greatly from year to year.