RES 84176 - Laserfiche WebLink

Financial Statements The accounting policies of the City of Pleasanton conform to generally accepted accounting principles as applicable to governments except as follows: (1) the City does not record fixed assets in a General Fixed Assets group of accounts and (2) the Enterprise Fund "Sewer and Drainage" does not record fixed assets nor charge depreciation. Accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. Operations of each fund are accounted for with a separate set of self-balancing accounts. The various funds are 9rouped into broad categories, as follows: Governmental Funds (General, Special Revenue, Debt Service, Capital Projects, Special Assessment), Proprietary Funds (Enterprise, Internal Service), and Fiduciary Funds (Trust and Agency). All Governmental Funds and Expendable Trust Funds are accounted for using the modified accrual basis of accounting. All Proprietary Funds are accounted for using the accrual basis of accounting. An exception is the Sewer and Drainage Fund in which depreciation is not charged. The General Fund is the general operating fund of the City. It is used to account for all financial resources except those to be accounted for in another fund. Revenues and expenditures in the City's General Fund for the years 1979/80 through 1982/83 are shown in Table D-5. Taxes are the City's major source of revenues. In 1983, taxes comprised 48.3 percent of all City revenues, followed by public works fees (18.8 percent) and use of money and property (8.2 percent). Salaries and employee benefits comprise the major use of General Fund monies, accounting for over 74 percent of all General Fund expenses in 1982. Table D-6 shows the City of Pleasanton General Fund Balance Sheet as of June 30, 1982 and June 30, 1983. D-5