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the funds of the City can be divided into three categories: governmental funds, proprietary funds, and <br />fiduciary funds. <br />Governmental Funds - Governmental funds are used to account for essentially the same functions <br />reported as governmental activities in the government -wide financial statements. However, unlike the <br />government -wide financial statements, governmental fund statements focus on near-term inflows and <br />outflows of spendable resources, as well as on balances of spendable resources available at the end of <br />the fiscal year. Such information may be useful in evaluating a government's near-term financial <br />capacity. <br />Because the focus of governmental funds is narrower than that of the government -wide financial <br />statements, it is useful to compare the information presented for government funds with similar <br />information presented for governmental activities in the government -wide financial statements. By <br />doing so, readers may better understand the long-term impact of the government's near-term financing <br />decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, <br />expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison <br />between governmental funds and governmental activities. These reconciliations are presented on the <br />page immediately following each governmental fund financial statement. <br />The City has 24 governmental funds, of which three are considered major funds for presentation <br />purposes. Each major fund is presented separately in the governmental fund balance sheet and in the <br />governmental fund statement of revenues, expenditures, and changes in fund balances. The City's two <br />major funds include - the General Fund and the Affordable Housing Asset Fund. Individual fund data <br />for each of the on -major governmental funds are provided in the form of combining statements <br />elsewhere in this report. <br />The City adopts an annual appropriated budget for its General Fund, Affordable Housing Asset Fund <br />and all non -major funds. Budgetary comparison statements are elsewhere in this report to demonstrate <br />compliance with the adopted budget. <br />Proprietary Funds - The City maintains two different types of proprietary funds, enterprise funds and <br />internal service funds. Enterprise funds are used to report the functions presented as business -type <br />activities in the government -wide financial statements. The City uses an enterprise fund to account for <br />its Water Pollution Control Plant, Shoreline, Storm Water Utility, and Environmental Services. Internal <br />service funds are used to accumulate and allocate costs internally among the City's various <br />functions. The City uses internal service funds to account for the fleet of vehicles, building and facilities <br />maintenance, insurance services and information systems. Because these services primarily benefit <br />governmental rather than business -type functions, these are included within governmental activities in <br />the governmental -wide financial statements. <br />Proprietary funds provide the same type of information as the government -wide financial statements, but <br />in great detail. The proprietary fund financial statements provide separate information for the entire <br />City's proprietary funds. Conversely, internal service funds are combined into a single, aggregated <br />presentation in the proprietary financial statements. Individual fund data for the proprietary and internal <br />service funds are provided in the form of combining statements elsewhere in the report. <br />VA <br />