athens tn acfr fy2024

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CITY OF ATHENS, TENNESSEE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2024
7
The City maintains 14 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, the General Purpose School Fund, the Federal Projects 
Fund, the General Obligation Bond Fund, the Debt Service – Schools Fund, the Capital Improvement 
Fund, the School Construction Fund, and the Education Capital Projects Fund which are considered to be 
major funds. Data from the other six governmental 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 and individual statements later in this report beginning on page C-1.
The City adopts an annual appropriated budget for its governmental funds. A budgetary comparison 
statement has been provided for the General Fund, the General Purpose School Fund, and the Federal 
Projects Fund to demonstrate compliance with this budget.
The basic governmental fund financial statements can be found on pages A-4 to A-14 of this report.
Proprietary funds. The City maintains two different types of proprietary funds: enterprise funds and 
internal service funds. Enterprise funds are used to report the same functions presented as business-type 
activities in the government-wide financial statements. The City uses enterprise funds to account for its 
Southeast Tennessee Trade and Conference Center operations and sanitation services. Internal service 
funds are an accounting device used to accumulate and allocate costs internally among the City’s various 
functions. The City uses one internal service fund to account for its fleet of vehicles and another for 
employee medical benefits. Because these services predominantly benefit governmental rather than 
business-type functions, they have been included within governmental activities in the government-wide 
financial statements.
Proprietary funds provide the same type of information as the government-wide financial statements, only 
in more detail. The proprietary funds financial statements provide separate information for the Southeast 
Tennessee Trade and Conference Center operations and the Sanitation Fund, both of which are considered 
to be major funds of the City. The internal service funds are presented in the proprietary fund financial 
statement. Individual data for each of the internal service funds is provided in the form of combining 
statements later in this report beginning on D-1.
The basic proprietary fund financial statements can be found on pages A-15 to A-17 of this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside 
the government. Fiduciary funds are not reflected in the government-wide financial statement because the 
resources of those funds are not available to support the City’s own programs. The accounting used for 
fiduciary funds is much like that used for proprietary funds. Athens Pension Trust Fund is the one 
fiduciary maintained by the City and is shown on pages A-18 to A-19 of this report.
Notes to the financial statements. The notes provide additional information that is essential to a full 
understanding of the data provided in the government-wide and fund financial statements. The notes to 
the financial statements can be found on pages A-20 to A-94 of this report.