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CITY OF EUGENE, OREGON
<br />Notes to Basic Financial Statements
<br />(1) Summary of Significant Accounting Policies, continued
<br /> (N) Fund Balance, continued
<br />Resources that are constrained by the government’s intent to use them for a specific purpose, but are neither
<br />restricted nor committed, are reported as assigned fund balance. Intent is expressed when the City Council
<br />approves which resources should be “reserved” during the adoption of the annual budget. The City’s Finance
<br />Director uses that information to determine whether those resources should be classified as assigned or
<br />unassigned for presentation in the City’s Comprehensive Annual Financial Report.
<br />Unassigned fund balance is the residual classification for the General Fund. This classification represents fund
<br />balance that has not been restricted, committed, or assigned within the General Fund. This classification is
<br />also used to report any negative fund balance amounts in other governmental funds.
<br />When both restricted and unrestricted (committed, assigned, or unassigned) resources are available for use, it
<br />is the City’s practice to use restricted resources first, then unrestricted resources as needed. When an
<br />expenditure is incurred where an unrestricted fund balance classification could be used, the City’s practice is to
<br />use committed resources first, assigned resources second, and then unassigned amounts as they are needed.
<br />Fund balances by classification for the year ended June 30, 2011 were as follows:
<br />Systems
<br />GeneralDevelopmentOtherTotal
<br />CommunityCapitalCapitalGovernmentalGovernmental
<br />DevelopmentProjectsProjectsFundsFunds
<br />General
<br />Fund balances
<br />Nonspendable:
<br /> Inventories$0000615,555615,555
<br /> Prepaids and deposits1,066,47300071,7901,138,263
<br /> Assets held for resale00001,869,0381,869,038
<br /> Permanent balance000080,00080,000
<br />Restricted:
<br /> Capital projects00817,9295,750,7917,561,46014,130,180
<br /> Community development02,615,0360002,615,036
<br />Rental housing program0000207,803207,803
<br /> Cultural services914,8130003,685,0964,599,909
<br /> Debt service00001,812,4551,812,455
<br /> Road maintenance00002,125,8662,125,866
<br /> Solid waste and recycling0000801,937801,937
<br />Unappropriated
<br />ending fund balance21,260,000000021,260,000
<br /> Urban renewal00005,881,7225,881,722
<br />Committed:
<br /> Construction Permits00001,733,3791,733,379
<br /> Special assessments00002,413,0952,413,095
<br /> Telecommunications00007,110,7827,110,782
<br />Assigned:
<br /> Capital projects0011,618,7630011,618,763
<br /> Cultural services1,535,55100001,535,551
<br /> Reserve for encumbrances1,839,07700001,839,077
<br /> Reserve for next year's spending4,418,11300004,418,113
<br /> Reserve for revenue shortfall7,945,63800007,945,638
<br /> Other reserves1,271,53100001,271,531
<br />Unassigned5,792,87000005,792,870
<br />Total fund balances$46,044,0662,615,03612,436,6925,750,79135,969,978102,816,563
<br />continued
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