Transient Guest Tax Fund:
Provides discretionary spending for the governing body for economic development and tourism purposes. Funding is provided by the Transient Guest Tax collected by the state. A 4.0% tax levied on all hotel/motel overnight stays in the City. The revenue is designated for economic development and tourism purposes. Cash of a single fund for which no spending authority has been formally assigned. This is also known as the “unappropriated fund balance.” Provides reserve funding for water infrastructure repairs. Revenue is provided by water tap fees and cell tower lease payments. A distinct fund of City accounts for the operation of the City water plant. Revenue is provided through service charges.
Transient Guest Tax:
Unreserved Fund Balance:
Water Capital Reserve Fund:
Water Operations Fund:
/ŶĨƌĂƐƚƌƵĐƚƵƌĞ Sales Tax Fund:
A fund of City accounts used to record the ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ sales tax ƉƌŽĐĞĞĚƐ͘
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