Fund Descriptions and Structure

Fiscal Year 2024

Fund and Account Structure Overview

Fund and Account Structure Description

The accounts of the City of Stuart are organized based on funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The City prepares annual budgets for governmental funds and enterprise funds. The City of Stuart adopts budgets for the following funds.

General Fund

Accounts for all financial resources not accounted for in other funds (e.g. Human Resources, Finance, Police, Fire, Community Services, and Public Works). The General Fund includes accounting for two account groups.

Special Revenue Funds

Account for the proceeds of specific revenue sources that are legally restricted to expenditures for specific purposes.

  • Community Redevelopment Agency
  • Leased Property Fund
  • Landfill Property Maintenance
  • Police Special Funds

Enterprise Funds

Account for operations that are financed and treated in a manner similar to a private business – where the intent of the governing body is that the cost of providing the services to the public on a continuing basis will be financed and recovered primarily through user charges. Related capital projects are accounted for in the individual enterprise funds.

  • Water and Sewer Fund
  • Sanitation Fund
  • Stormwater Fund