1 minute read
Combining Statement of Revenues, Expenses and Changes in Net Position Nonmajor Enterprise Funds
from 2020 CAFR
by BuffaloGrove
INDIVIDUAL FUND SCHEDULES
GENERAL FUND
The General Fund is used to account for all financial resources except those required to be accounted for in another fund.
SPECIAL REVENUE FUNDS
The Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than fiduciary funds or capital projects funds) that are legally restricted to expenditure for specified purposes.
The Motor Fuel Tax Fund is used to account for expenditures related to approved motor fuel tax projects and revenue from the state gasoline tax as collected and distributed by the State of Illinois.
The Metra Parking Lot fund is used to account for revenue generated and costs incurred from the operation of the Metra parking lot operated by the Village.
Motor Fuel Tax Fund
Local Motor Fuel Tax Fund
The Local Motor Fuel Tax Fund is used to finance local road and street improvements from local gasoline tax revenues collected and distributed by the State of Illinois.
Lake Cook Road TIF Fund
The Lake Cook Road TIF Fund is used to account for incremental revenues generated within the TIF boundaries and costs incurred from the formation and redevelopment of the Village's Lake Cook Road Corridor.
Metra Parking Lot Fund
DEBT SERVICE FUND
The Debt Service Fund is used to account for monies restricted, committed or assigned to pay for principal and interest payments on the Village’s debt obligations.
