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Unformatted text preview: Chapter 6 1-4 1. How many capital projects funds does the government maintain? How can you tell? Are any of these major funds? If so, for what purposes are they maintained? The General Fund is the chief operating fund. It is comprised of fourteen subfunds. The Transportation Fund is a special revenue fund that develops, maintains and operates transportation system. The Low-Income Housing Fund is a special revenue fund and one of the major governmental funds of the City. It manages activities undertaken by the City to preserve, rehabilitate, or replace low-income housing. It also accounts for the seven- year housing levy approved by voters in 1995 and an additional seven-year levy that was approved by voters in November 2002. In 2009 the other Special Revenue Funds showed a 1.6 million or 2.3 percent decrease in the fund balance as a result of operations. The fund balance in the Capital projects funds remained relatively stable. There is also the debt service fund and permanent funds. Governmental funds reported by the City include the General Fund, special revenue funds, debt service funds, capital funds and permanent funds. You can tell on the CAFR page 42 where it talks about the capital project funds. The major Governmental Funds are: The Low-Income Housing Fund The Transportation Fund General Fund 2. How many debt service funds does the government maintain? How can you tell? Are any of these major funds? If so, for what types of obligations are they maintained?...
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- Spring '11