2004 BUDGET - Laserfiche WebLink

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Description of Funds And Fund Types two funds in 1996 to more readily identify lottery proceeds and the related projects and those sales tax revenues restricted for land acquisition. Conservation Trust — Lotter' The City of Louisville, through Resolution #14, dated July 16, 1974, established a Conservation Trust Fund. The City receives an annual distribution from the State of Colorado from the proceeds of the Colorado State Lottery. State law mandates that a Conservation Trust Fund be established to record revenues and expenditures and that these funds received be restricted for the use in the acquisition, development and maintenance of "new conservation sites" or for capital improvements or maintenance for recreation purposes on any public site. Capital Projects Funds — Capital projects funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities. The City has the following Capital Projects Funds: Capital Projects Fund The Capital Projects Fund currently pays the debt service for the 1993 Sales Tax Revenue Bonds and finances various capital projects such as streets, alleys, sidewalks, downtown improvements, and park improvements. The revenues in the Capital Projects Fund are derived from various fees charged on new development and from a one -percent (1%) sales tax that began on July 1, 1989. Library Capital Construction Fund The Library Capital Construction fund accounts for the financial resources to be used for the construction of the Citv's new libranv that was approved by the voters at the November 2003 election. The debt service for the bonds that will be issued in 2004 to pay for the construction will be paid out of this fund also. Proprietary Funds Two fund types are used to account for a government's business -type activities (activities that receive a significant portion of their funding 30 through user fees). These are the Enterprise Funds and the Internal Service Funds. Enterprise Funds — Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises, where the intent of the governing body is that the costs of providing these services to the general public on a continuing basis be financed or recovered primarily through user charges. The most common type of enterprise funds operated by a municipality are public utilities. The City of Louisville currently operates one utility enterprise fund (water and wastewater enterprise fund) and a municipal golf course. These nvo enterprise funds are accounted for separately. The City has the following Enterprise Funds: Water and Wastewater Enterprise Fund The City of Louisville provides water services to approximately 7,200 customer accounts within the boundaries of the City, and treats over 1.2 million gallons of water annually. The City of Louisville provides sewer collection and treatment to approximately 7,600 accounts within the boundaries of the City. Golf Course The Coal Creek Golf Course is owned and operated by the City of Louisville. The City operates the facility; collects and disburses monies; hires and employs all personnel; purchases and sells food, beverages, merchandise, supplies and services; and performs other day-to-day activities relative to the facility. Internal Service Funds — Internal service funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the government and to other government units on a cost reimbursement basis. The City has the following Internal Service Funds: Building Management Fund As part of the 2004 budget process, the City of Louisville established a Building Management