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7.1.G. - Page 51 <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. The governmental funds described below were determined to <br /> be major funds by the City in fiscal year 2012/13. <br /> GENERAL FUND <br /> The general fund is the general operating fund of the City. It is used to account for all financial <br /> resources except those to be accounted for in another fund. <br /> HOUSING LEGAL AID SOCIETY FUND <br /> This fund accounts for revenues previously deposited in the former redevelopment agency low and <br /> moderate income housing fund pursuant to an agreement with the Legal Aid Society to set aside <br /> general tax increment revenue for housing purposes. After the February 1, 2012 dissolution of the <br /> redevelopment agency, this fund was created to account for this accumulated balance. <br /> CAPITAL OUTLAY FUND <br /> This fund accounts for all miscellaneous capital improvement projects that are financed by the general <br /> fund. <br /> 23 <br />