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City of Raleigh

Financial Section

Special Revenue Funds

Grants Fund (nonmajor fund)

The Grants Fund accounts for activities to which federal, state, and other aid is contributed, with

the exception of capital projects, federal community development, and public transportation

assistance. This fund centralizes all funding sources for these activities and provides for full

budgetary accountability.

Housing Bond Fund (nonmajor fund)

The Housing Bond Fund accounts for City housing development programs which are financed

by general obligation bond issues.

Community Development Fund (nonmajor fund)

The Community Development Fund accounts for United States Department of Housing and

Urban Development (HUD) grant proceeds allocated to the City for community development


Disaster Recovery Fund (nonmajor fund)

The Disaster Recovery Fund accounts for federal and state reimbursement for disaster recovery

activities resulting from various natural disasters and the City’s flood mitigation program.

Convention Center Financing Fund (nonmajor fund


The Convention Center Financing Fund accounts for hotel and motel occupancy taxes collected

by the County and remitted to the City per an interlocal agreement to fund the financing of the

Convention Center.

Emergency Telephone System Fund (nonmajor fund)

The Emergency Telephone System Fund is used to account for 911 revenues received by the

state 911 board to enhance the state’s 911 system.