City Budget

2008-09 City of Oroville Final Annual Budget

Summary of Fund Balances
Summary of Change in Fund Balances Fiscal Year 2008 - 2009 Annual Budget (10.5 kb - PDF)

General Fund Summary of Expenditures
General Fund Summary of Expenditures And Uses Fiscal Year 2008 – 2009 (7.7 kb - PDF)

General Fund F/Y 2008-2009
Where the Money Comes From (11.2 kb - PDF)
Where The Money Goes To (10.8 kb - PDF)

General Fund F/Y 2008-2009
Where the Money Goes (10.8 kb - PDF)

Plan Projections
General Fund Revenue Estimates with Long Term Sustainability (13.2 kb - PDF)

2008-09 Oroville Redevelopment Agency Final Annual Budget

Redevelopment Agency General Fund Long Term Fiscal Sustainability Plan Projections (9.2 kb - PDF)

Redevelopment Agency Housing Set Aside long term Fiscal sustainability plan projections (9.2 kb - PDF)

Sewer Fund

Sewer Fund Long Term Sustainability Plan Projection (12.1 kb - PDF)

BUDGET INFORMATION

GOVERNMENTAL ACCOUNTING
Governmental accounting is different from business activity or enterprise accounting, where a single set of accounting books are kept for the enterprise. Instead funds or separate sets of books are maintained. The fund system is geared to the governmental budgetary system which funds activities on a periodic or budgetary basis.

A governmental entity such as a city is not considered to be a single entity for accounting or financial repoaing purposes, rather it is considered to be a collection of separate accounting entities, or funds. There are seven types of funds (see Description of Funds, below) each type is created to account for certain types of activities.

IMPORTANT TERMS

• Revenues: Revenues include items such as fees, taxes, etc. sources of funds to finance expenditures, including General Fund Support and Transfers-In. (Object Numbers 4000 - 4999).
• Expenditures: The amounts authorized by the City Council are to incur obligations and make payments out of City funds. (Object Numbers 5000 - 9999).
• Fund Balance: Fund Balance is the equity of the fund. The equity or accumulated fund balance can be used to finance budgetary expenditures. This is a balance sheet account.
• Reserve: Reserve is the equity of the fund which it may be set aside by the City Council for a specific purpose. The General Fund Reserve is set aside to take care of future needs and also acts as a cushion when economic conditions result in lower than expected Revenues. This is a balance sheet account.
• Non-Departmental: Refers to an expenditure (or revenue) budget which covers items related to the City as a whole which cannot be easily allocated to the various departments.

DESCRIPTION OF FUNDS

1. The General Fund (Fund Number 001) is the most versatile fund and is used to account for any legal budgetary purpose not accounted for elsewhere in the budget. General Fund Revenues include property tax, sales and user taxes, licenses, permits, franchise fees, fines and forfeitures, transfers from other agencies, fees for services and use of money and property.
   
2. Secial Revenue Funds (Fund Numbers 100 - 199 and 420 - 499) are used to account for certain funds which are legally restricted to certain purposes. Special Revenue Funds include the Redevelopment Tax Increment Fund (198), Redevelopment Set-Aside Fund (199), Special Assessment Funds (170-175), Sewer Fund (101), Various Development Impact Fee Funds (105, 106, 108-115), Gas Tax -2107/2107.5 (120), Gas Tax - 2106 (125), the Special Aviation (Airport) Fund (130) the State Theater Fund (420), the Business Development Center (440) and several Revolving Loan Funds (450-460).
   
3. Debt Service Funds (Fund Numbers 200 - 299) are used to account for payments of debts owed by the City. They include the Oroville Public Financing Authority Fund (280), The City Debt soure fund (230) and various bond funds. PROPRIETARY FUNDS account for a government's business type activities. The costs to provide services and the revenues charged for these services are accounted for in ENTERPRISE AND INTERNAL SERVICE FUNDS.
   
4. Enterprise Funds the Local Transit Fund Number 410 is the City's only Enterprise Fund. Enterprise Funds are accounted for on a basis similar to private enterprise. All or a part of the costs of operations are recovered through fees charged to users.
   
5. The City has several Internal Service Funds (Fund Numbers (500 - 599), the Stores funds (520), Vehicle Maintenance (540), the Workers' Compensation Fund (550), and the Unemployment (552) and Vision (555) Self-Insurance Funds. Internal Service Funds account for a department of a governmental agency which provides services to various departments. The costs of all or a part of the operations and the provision of services are recovered through fees charged to the user departments.
   
6. Capital Improvement Project Funds (Fund Numbers 300 - 399) are used to account for the purchase or construction of major capital (Public Works) projects, which are not financed by proprietary, special assessment or trust funds. They include the Redevelopment Capital Project Funds (398 and 397), Sewer Capital Project Fund (310), the Equipment Replacement Fund (305), the New Capital Equipment/SmaU Projects Fund (306), the ADA Compliance Fund (315) and various Special Assessment Funds.
   
7. Fiduciary (Trust and Agency) Funds (Fund Numbers 600 - 699) account for assets held by the City in a trustee capacity or as agency for individuals, private organizations, other governments, and/or other funds.

DESCRIPTION OF REVENUE ACCOUNTS

1. Property Taxes: (#4010 - 4099) This revenue source is derived from the tax imposed on real property and tangible personal property. The tax is 1% of the full cash value of the property and the City receives a portion of the tax. The revenues are distributed to local government in accordance with the provisions of Proposition 13 and AB-8. Revenues are less than the full 1% because of the frozen base created by the Redevelopment Agency and the recent State Property Tax assessments.
   
   a. Sales Tax: (#4100)) - This revenue source is derived from the sales tax paid by consumers purchasing items in the City. One percent of the seven and one quarter percent State Sales Tax Levy is distributed back to the City.
   
   b. Other Taxes: - This revenue is received from the State and includes Homeowners (#, A.A, OO), Documentary Stamp Tax (#4110), Off Highway and Motor Vehicle ln-Lieu of Tax Fees (#4440), Transient Occupancy Tax (#4 120) motels pay, and Utility User Tax (#4130) utility companies pay.
   
2. License-Permits-Franchises: Includes Franchises (#4140), Business Licenses (#4200), and Permits (#4220 - 4290).
   
3. Fines-Forfeitures-Penalties: Includes Vehicle (#4300), Parking Fines (#4350), and Other Fines (#4390).
   
4. Intergovernmental Revenues: Includes revenues from the State and Federal Government.
   
5. Charges for Current Services: Includes sewer revenues (#4620 - 4622) which are received by the Sewer Fund and State Theater Revenues (#4600 - 4615).
   
6. Money & Property: Includes Rents and Concessions (#4510), Facility Leases (#4511), and interest, or Investment Earnings (#4500) on City funds.
   
7. Other Revenue: Includes miscellaneous revenues such as other operating revenues (#4800), donations (#4830 - 4833), special fees (#4893 - 4899), and refunds and reimbursements (#4892) for such things as refunds from vendors, reimbursements from government agencies, workers' compensation payments and jury duty fees received by employees.
   
8. Other Financing Sources: Includes Bond/Loan Proceeds (#4910), Transfers-In (#4950 - 4999) (Monies transferred to a specific fund from another fund. These become a source of funding for recipient fund's budget).