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I WUH D11
EXPLANATION OF BUDGETARY BASIS
Basis of accounting refers to the point in time at which revenues and
expenditures are recognized in the accounts and reported in the financial
statements.
The modified accrual basis of accounting is used for governmental funds (general,
special revenue, debt service, and capital projects), and expendable trust funds.
Revenues are recognized in the accounting period in which they become measurable
and available as net current assets; that is, when they become susceptible to
accrual. Expenditures are generally recognized in the accounting period in which
the related fund liability is incurred, except for unmatured interest on general
long-term debt, which is recognized when due.
The accrual basis of accounting is used for proprietary funds (enterprise funds).
Revenues are recognized in the accounting period in which they are earned, and
expenses are recognized in the period in which they are incurred,
The City's budgeting for encumbrances represents an exception to these accounting
bases. Encumbrances, which represent purchase orders, contracts, and their
commitments., are treated as budgetary expenditures in the year of incurrences. In
other words, budgeted funds must be available in a budget to enter into a
contract or purchase order.
The budget of each City fund, with the above noted exception, is prepared
consistently with the basis of accounting used for that fund.,
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ANNUALUDGET CITY ®F GE®RGET®WN
BUDGETED REVENUES
ALL FUNDS
i
0
Electrical Re enues .................... ..
k i
Water Revenues f I s
i
i i i 1 8
Grants/contributions 1
f k I
All Other i ` }
e � i
} 1 1
4 k
f 4
Property Taxes
Sales Taxes ( {
1 7
fi
Interest Income s
i
f s 1
t
Wastewater Revenues
' i 1
I i i 1
i
Sanitation
p2 4 S 10 $1
Millions
® 1987/88 Eat. Actual :i 1988/89 Budgeted
Note: Excludes inter --fund transfers,
Estimated
1.987/88 1988/89
Actual Budget
Electrical Revenues 81572,917 $109336,81.9
Water Revenues 2,783,692 33017,885
Grants/Contributions 119,131 2,268,387
All Other 1,326,655 1,565,151
Property Taxes 115609632 115579181
Sales Taxes 7629467 865,000
Interest Income 948,753 789,443
Wastewater Revenues 437,221 735$60
Sanitation 555,162 583,260
$17,066,430 $215718,686
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BUDGETED EXPENDITURES
ALL FUNDS
Electrical
Capital Projects
All Other
Debt Service
Public Safety
Water
Wastewater
Library,Parks,Street
Sanitation
$0 $2 $4 $6 $8 $10
(Millions)
� 1987/88 Est. Actual Ell 1988/85 Budgeted
Note: Excludes inter -fund transfers.
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Estimated
1987/88
1988/89
Actual
Budget
Electrical
$ 61305,558
$ 81690,937
Capital Projects
21828,756
7,559,628
All Other
1,316,791
21220,733
Debt Service
1,6315623
211815627
Public Safety
11579,564
1,9471117
Water
11382,031
11706,081
Wastewater
839,863
11030,421
Library, Parks, Street
582,495
930,678
Sanitation
657,064
705,248
$17,123,745
$26,972,470
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