City of Raleigh
– The stormwater fund is established to account for revenues and expenses related to stormwater
The parking facilities fund accounts for the parking fee charges and all costs associated with the
operation of all parking decks and lots owned by the City.
Solid waste services fund
The solid waste services fund accounts for the revenues and expenses related to the
operation of the City’s residential garbage collection and recycling programs.
Additionally, the City reports the following fund types:
Internal service funds
‐ Account for employees’ health benefits, equipment replacement, risk management
services, and vehicle fleet services provided to other departments or agencies of the City on a cost reimbursement
The pension trust funds account for the City’s contributions to a supplemental money
purchase pension plan fund, the law enforcement officers’ special separation allowance fund, and other post‐
As a general rule the effect of interfund activity has been eliminated from the government‐wide financial
statements. Exceptions to this general rule are payments‐in‐lieu of taxes and other charges between the City’s
water and sewer function and various other City functions. Elimination of these charges would distort the direct
costs and program revenues reported for the various functions concerned.
Amounts reported as
include 1) charges to customers or applicants for goods, services, or
privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including
special assessments. Internally dedicated resources are reported as general revenues rather than as program
include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues
and expenses generally result from providing services and producing and delivering goods in connection with a
proprietary fund’s principal ongoing operations. The principal operating revenues of the City’s enterprise funds
and internal service funds are charges to customers for sales and services. Operating expenses for enterprise
funds and internal service funds include the costs of sales and services, administrative expenses, and depreciation
on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues
When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted
resources first, then unrestricted resources as they are needed.
Management of the City has made a number of estimates and assumptions relating to the reporting of assets,
liabilities, revenues, expenses, and the disclosure of contingent assets and liabilities to prepare the financial
statements in conformity with generally accepted accounting principles. Actual results could differ from those