1997 BUDGET - Laserfiche WebLink

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Description of Funds General Fund The General Fund is used to account for resources traditionally associated with government which are not required legally or by sound financial management to be accounted for in another fund. Special Revenue Fund Special Revenue Funds are used to account for proceeds of specific revenue sources (other than expendable trusts) that are legally restricted to expenditures for specified purposes. Special Revenue Funds of the City include the following: Cemetery Fund This fund was created in 1974 through Ordinance #436. Fees derived from the sales of lots and opening of graves are collected and restricted for the "cemetery perpetual care fund." The interest derived from this fund is transferred to the General Fund for the operations and maintenance of caring for the lots. Conservation Trust Funds: Conservation Trust - Land Acquisition On November 2, 1993 Louisville voters approved a temporary sales and use tax increase of 3/8% for ten years, beginning January 1, 1994. Revenues from the increase will be used exclusively for the acquisition of land in and around Louisville for open space buffer zones, trails, wildlife habitats, wetlands preservation and future parks. In the 1996 budget the Conservation Trust Fund was divided into two funds, in order to more readily identify lottery proceeds and the related projects and those sales tax revenues restricted for land acquisition. Conservation Trust - Lottery Fund 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 recreational purposes on any public site. Capital Projects Fund In 1997 this fund consolidates the Combined Capital and Capital Projects Fund. The Combined Capital Fund was created in 1985 through Ordinance #874 to account for the service expansion fee ($2.60/sq. ft. per new residential construction) and the $1,650 per unit major thoroughfare fee. These fees are collected through the building permit process and are restricted for construction or renovation of park and building facilities; improvements to streets, alleys, sidewalks, and trails; acquisition of city trees; improvements 34