FY 2026 Adopted Budget - Flipbook - Page 96
funds which are not budgeted because these resources are not available for the City to use. The City
acts as a trustee and cannot use these funds to support the City’s own programs. These funds are
held in trust for employee future pension plan payouts.
Governmental-Type Funds
The City’s Governmental funds consist of the General Fund, Special Revenue Funds, and Capital
Projects Funds.
General Fund
The General Fund is the general operating fund of the City. It is used to account for all financial
resources, except those required to be accounted for in another fund. Resources include taxes,
franchise fees, State and local shared revenues, grants, fees, fines and forfeitures, charges for
services, and miscellaneous revenues. Services provided using these revenue sources in the
General Fund include general government administration, public safety, physical environment and
transportation, and culture and recreation.
Special Revenue Funds
Special revenue funds are appropriated for specific revenue sources that are legally or
administratively restricted to expenditures for specified purposes. The following are the major
special revenue funds the City of Eustis appropriates:
Street Improvement Fund – Accounts for revenue received from motor fuel gas taxes. All
expenditures within the fund go toward maintaining the City’s streets and rights-of-ways.
Community Redevelopment Trust Fund – Accounts for the revenue received by City’s special
taxing district identified in the Community Redevelopment District. All expenditures must
occur within this geographically defined area.
Building Services Fund – Accounts for revenues generated by construction permit fees and
expenditures resulting from enforcement of the Florida Building Code.
Stormwater Utility Revenue Fund – Accounts for user fees and other revenues related to
stormwater charges. The fund is responsible for funding the operation, construction, and
maintenance of the City’s stormwater system, system planning, and system management.
Capital Projects Funds
The City’s Capital Improvement Plan (CIP) contains all the individual capital projects, equipment
purchases, and major studies needed for the City, in conjunction with construction, completion
schedules and financing plans. The CIP provides a working blueprint for maintaining, improving
and expanding the City’s infrastructure.
The capital project funds are utilized to account for major capital acquisition and construction activity
separately from ongoing operating and maintenance activities. This helps to avoid distortions in
financial trend information that occurs when capital and operating activities are mixed. Project
funding process starts with departmental CIP requests to the City Manager and Finance
Department.
The City Manager, Finance Department and City Department Heads review requested projects
individually. Prioritization of projects is based on community needs, departmental performance,
workload capacity, current economic conditions, funding sources and availability by linking
strategic plans with the City’s fiscal capacity. Approval of the CIP is made by the City Commission
with two City Commission CIP hearings.
The CIP includes the following elements:
Estimated Overall Cost of Each Project
Estimated Operational & Maintenance Cost for Each Project
Estimated Project Timelines
Total Revenues from Each Project
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