Transcript - Budget Basics: Funds 101
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Ever wonder why some projects continue even when there might be reductions to other programs and services?
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The answer is simple.
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Each city fund has a specific purpose and many have restrictions that voters approved.
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The general fund is like the city's main checking account.
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It covers essential services that keep our community running.
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Think police and fire services, parks, streets, recreational activities and the employees making it all happen.
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Then there are capital funds.
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These funds support major projects like building roads, maintaining facilities and infrastructure projects funded by voter approved taxes, state and federal grants or development fees.
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And don't forget about enterprise funds.
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They take care of operating and maintaining water, sewer and storm water systems, as well as Lynn Grove Cemetery, municipal golf courses and downtown parking.
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Enterprise funds are generated by the usage fees that customers pay for various services such as utility bills, golf courses, parking permits and cemetery lots.
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These funds are distinct from other city funds and operate under their own financial regulations to ensure they are self-sufficient.
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Think of the city's finances as distinct buckets, each serving a unique purpose.
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For example, you wouldn't use your emergency savings to buy concert tickets.
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Similarly, your city has different funds that can only be used for specific purposes.
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Want to learn more about City of Greeley funds?
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Head over to greeleyco.gov/finance/budget.