athens tn acfr fy2023

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NONMAJOR GOVERNMENTAL FUNDS

Capital Projects Fund

The Capital Projects Fund is designated for the construction or acquisition of major
assets.

General Obligation Bond Fund: This fund is used to account for the proceeds from the
issuance of bonds in 2021 for city capital projects.

Debt Service Funds

The Debt Service Funds are used for the accumulation of resources for, and payment of,
principal and interest on general long-term debt for School and City projects.

Special Revenue Funds

The Special Revenue Fund is used to account for the proceeds of specific revenues
which are, legally restricted to finance specific functions or activities of government and
which, therefore, cannot be diverted to other uses.

Hotel/Motel Tax Fund: This fund accounts for the revenues and expenditures of the
City’s hotel/motel tax, and required to be used for tourism and tourism development.

Drug Fund: This fund was established expressly to account for financial activities related
to drug revenues and expenditures. This includes revenues for drug fines and
forfeitures for drug enforcement, education and treatment.

Centralized Cafeteria Fund: This fund is used to account for the revenues and
expenditures of the Athens City Schools cafeterias.

Internal School Funds: These funds are used to account for the Board of Education’s
school activity funds.

Permanent Fund

The Permanent Fund is used to report resources that are legally restricted to the extent
that only earnings, not principal, may be used for purposes that support the reporting
government’s programs.

Cemetery Perpetual Care Fund: This fund was established to provide for the future
maintenance of city cemeteries. The interest income of the trust can be used for
cemetery maintenance with no principal encroachment permitted.