18.
Unavailable revenues are reported in the governmental funds balance sheet in connection
with receivables for which revenues are not considered available to liquidate liabilities of
the current year.
Taxes levied in advance are reported in the governmental funds balance sheet and
government-wide statement of net position in connection with subsequent year property tax
revenue collections which are not available for use in the current year.
Gains on refunding bonds are reported in the government-wide statement of net position
in connection with the unamortized amount of gains resulting from the refunding of long-
term bonds.
Governmental Funds — Balances
Fund balances are segregated to account for resources that are either not available for
expenditure in the future or are legally set aside for a specific future use.
The City implemented GASB Statement No. 54 (GASB 54), Fund Balance Reporting and
Governmental Fund Type Definitions, which enhances the usefulness of fund balance
information by providing clearer fund balance classifications that can be more consistently
applied and by clarifying existing governmental fund type definitions,
The following types of fund balances are reported at June 30, 2021:
Nonspendable
Represents amounts that cannot be spent because they are either (a) not in spendable form
or (b) legally or contractually required to be maintained intact. This fund balance
classification includes general fund reserves for tax deeds and nonmajor governmental fund
reserves for the principal portion of permanent funds.
Restricted
Represents amounts that are restricted to specific purposes by constraints imposed by
creditors, grantors, contributors, or laws or regulations of other governments, or constraints
imposed by law through constitutional provisions or enabling legislation. This fund balance
classification includes amounts restricted for future debt service, various special revenue
funds, capital project funds, and the income portion of permanent funds.
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