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VI. OTHER GOVERNMENTAL FUNDS <br />i <br />A. Special Revenue Funds — funds used to account for and report the proceeds of specific <br />revenue sources that are restricted or committed to expenditure for specified purposes <br />other than debt service or capital projects. The term proceeds of specific revenue <br />sources establishes that one or more specific restricted or committed revenues should <br />be the foundation for a special revenue fund. <br />1. Currently the City has special revenue funds to account for monies from the.U.S. <br />Army to operate our water treatment plant. These fund balances will be restricted. <br />2. Operating grants will be considered as restricted by the applicable requirements of <br />the grants. <br />3. Fund balances in the Special Revenue Fund for the Police Forfeitures shall be <br />restricted to expenditures in conformance with State Statutes. <br />4. Fund balances in the Special Revenue Fund for the Police Reserves, Emerald Ash <br />Borer, Community Development Studies, Project Lifesaver, Santa Cop and Police <br />Explorer programs shall be committed to expenditures of their respective programs. <br />B. Debt Service Funds — funds used to set aside resources to meet current and future debt <br />service requirements on outstanding debt. GAAP permits the use of debt service funds <br />to account for the accumulation of resources for, and the payment of, debt principal and <br />interest. Sound financial management requires that the City account for each debt issue <br />separately in its accounting system. <br />Balances in individual debt service funds will be considered as restricted until such <br />time as each fund's respective debt is paid in full. <br />C. Capital Project Funds —funds used to account for and report financial resources that are <br />restricted, committed, or assigned to expenditure for capital outlays, including the <br />acquisition or construction of capital facilities and other capital assets. <br />1. Fund balances in tax increment financing capital project funds will be considered as <br />restricted in conformance with State Statutes. <br />2. Balances in the Park Dedication project in the Park Improvement Fund shall be <br />restricted in conformance with State Statutes. <br />3. The fund balance of the Closed Bond Fund shall be considered as committed for <br />supplemental financing for the retirement of outstanding debt and debt related <br />expenditures. It is the intention of this policy that each year the investment <br />Page 5 of 6 <br />