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6.1 B <br /> Page 42 <br /> GOVERNMENTAL FUND FINANCIAL STATEMENTS <br /> Major funds are defined generally as having significant activities or balances in the current year. No <br /> distinction is made between fund types and the practice of combining like funds and presenting their <br /> totals in separate columns (combined financial statements) has been discontinued, along with the use of I <br /> the general fixed assets and general long-term debt groups of accounts. <br /> The governmental funds described below were determined to be major funds by the City in fiscal year <br /> 2009/10. <br /> GENERALFUND <br /> The general fund is the general operating fund of the City. It is used to account for all financial resources <br /> except those to be accounted for in another fund. I <br /> CAPITAL OUTLAY FUND <br /> This fund accounts for all miscellaneous capital improvement projects that are financed by the general <br /> fund. <br /> REDEVELOPMENT AGENCY FUND <br /> This fund accounts for funds to be provided by loans and/or property tax increment from specific <br /> redevelopment areas for redevelopment projects within those areas. <br /> LOW AND MODERATE INCOME HOUSING FUND <br /> This fund accounts for redevelopment property tax increment revenues which may be used strictly for <br /> low and moderate income housing. <br /> i <br /> i <br /> I <br /> � <br /> 19 <br />