The County has three kinds of funds:

  1. Governmental funds account for most of the County's basic services. These focus on how money flows into and out of those funds, and the balances left at year-end that are available for spending. These governmental funds include: 1) the General Fund, 2) the Special Revenue Funds, such as American Rescue Plan, Rural Services and Secondary Roads, 3) Capital Projects, such as Local Option Tax, and 4) the Debt Service Fund. These funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting, which measures cash and all other financial assets that can readily be converted to cash.
  2. The governmental fund financial statements provide a detailed, short-term view of the County's general governmental operations and the basic services it provides. Governmental fund information helps one determine whether there are more or fewer financial resources that can be spent in the near future to finance the County's programs.
  3. The County maintains 21 individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, American rescue plan fund, rural services fund, secondary roads fund, debt service fund, and the local option tax fund, all of which are considered to be major funds. Data from the other 15 funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report.
  4. The governmental funds required financial statements include a balance sheet and a statement of revenues, expenditures and changes in fund balances.
  5. The basic governmental fund financial statements can be found on pages 19-23 of this report.
  6. Proprietary funds account for the services which the County provides. Proprietary funds are reported in the same way as the Government-wide statements. The County's enterprise fund (one type of proprietary fund) is the same as its business-type activities but provides more detail and additional information, such as cash flows. The County has one enterprise fund for Sunnycrest Operations.
  7. The basic proprietary fund financial statements can be found on pages 24-26 of this report.
  8. Fiduciary funds are used to report assets held in a trust or agency capacity for others and cannot be used to support the County's own programs. These fiduciary funds include custodial funds that account for emergency management services, joint 911 services and the County and City assessors, to name a few.

The fiduciary funds required financial statements include a statement of fiduciary net position and a statement of changes in fiduciary net position.

The basic fiduciary fund financial statements can be found on page 27-28 of this report.

A summary reconciliation between the government-wide financial statements and the governmental fund financial statements follows the governmental fund financial statements.

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