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Home My WebLink About1987 ACFR,., ,..., ,-, Honorable Mayor and Members of the City Council, City of Pasco, Washington: May 1, 1988 It's our pleasure to present this Comprehensive Annual Financial Report of the City of Pasco for the fiscal year ended December 31, 1987. This report was prepared by the Finance Department, which assumes full responsibility for both the accuracy of data presented and the completeness and fairness of the presentation, including all disclosures. The Comprehensive Annual Financial Report was prepared in accordance with Generally Accepted Accounting Principles as established by the Governmental Accounting Standards Board (GASB) . This report has been prepared to fulfill financial reporting requirements established by the State Auditor's Office, and to fully disclose the financial operations of the City. The report is divided into four main sections: introduction, financial, statistical, and glossary. Pasco, the Reporting Entity This report includes all funds, account groups, agencies, and boards controlled by or dependent on the City of Pasco. This report does not include reports on agencies or organizations for which managerial control was shared with other local jurisdictions; these organizations have substantial autonomy and are not considered component parts of the City. The City and Services Provided Pasco is located in southeastern Washington (Franklin County) at the confluence of the Columbia, Snake and Yakima Rivers. Along with its sister cities of Richland and Kennewick, the area is commonly known as the Tri-Cities . Pasco is approximately 24.5 square miles in size with a 1987 population of 18,520. The Tri- Cities makes up a standard metropolitan statistical area (SMSA) of approximately 145,000 people. With the development of the Columbia Basin Irrigation System, agriculture and transportation have been the mainstays of the City's economy. STATISTICAL SECTION ,.., ,., Table General Revenues by Source and General Governmental Expenditures By Function Table 2 Property Tax Levies and Collections Table 3 Property Tax Rates -All Overlapping Governments Table 4 Special Assessment Collections Table 5 Ratio of Net General Bonded Debt to Assessed Value and Bonded Debt per Capita Table 6 Limitation of Indebtedness Table 7 Computation of Direct and Overlapping Debt Table 8 Water/Sewer Revenue Bond Coverage Table 9 Ratio of annual Debt Service for General Bonded Debt to Total General Expenditures ,.., Table 10 New Construction, Bank Deposits, and Property Value Table 11 Demographic Statistics Table 12 Miscellaneous Statistics Table 13 Ten Largest Water Utility Customers Table 14 Principal Employers in the Area ,..., 117 ,-, CITY OF PASCO, WASHINGTON REVENUES BY SOURCE AND GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION° Last Ten Fiscal Year ,-, Table 1 (continued) 1983 1982 1981 1980 1979 1978 $ 3,833,699 $ 3,843,894 $ 3,039,394 $ 2,657,666 $ 2,435,487 $ 2,214,702 122,739 123,638 125,383 167,625 176,335 154,798 1,939,976 1,878,107 1,679,695 2,540,848 2,303,468 1,657,463 495,687 223,022 198,000 179,139 174,205 130,145 157,307 136,399 162,318 138,190 114,362 144,745 .... 291,344 330,251 402,669 367,770 1,307,050 605,119 624,154 636,254 958,791 340,655 644,997 378,400 $ 7,464,906 $ 7,171,565 $ 6,566,250 $ 6,391 ,893 $ 7,155,904 $ 5,285,372 ============== ----------------------------============== -------------- 1,169,117 1,251,972 1,124,844 985,644 1,060,595 810,807 2,672,427 2,578,101 2,235,357 2,040,244 1,820,100 1,692,546 1,480,620 1,044,169 1,o10,636 983,248 937,787 1,018,076 1,030,385 994,016 662,371 1,208,030 2,675,832 601,028 540,903 498,051 464,117 268,993 386,604 100,058 0 0 0 0 0 0 78,435 74,945 74,041 76,926 36,506 31,546 0 0 0 0 0 0 301,945 299,337 335,583 298,904 248,502 146,977 ,..., 564,509 1,040,305 594,893 1,247,353 611,856 400,707 $ 7,838,341 $ 7,780,896 $ 6,501,842 $ 7,109,342 $ 7,777,782 $ 4,801,745 ============== ---------------------------------------------------------------------- 119 ,.., ,.... ,-, ,-, 1983 $ 1,136,331 128,800 201,919 -14,084 $ 1,452,966 -------------- $ $ $ 1,325,533 156,253 1,481,786 214,630 91 .23% 101 .98% 14.77% CITY OF PASCO, WASHINGTON PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Fiscal Year Table 2 (continued) 1982 1981 $ 1,052,433 $ 926,890 $ 137,372 136,653 221 ,849 77,311 -9.799 -15,350 $ 1,401,855 $ 1,125,504 $ 1980 786,948 168,311 59,998 -15,839 999,418 ------------------------------------------ $ $ $ 1,254,515 143,326 1,397,841 243,450 89.49% 99.71% 17.37% $ $ $ 975,231 126,920 1,102,151 239,436 86.65% 97.93% 21.27% 121 $ $ $ 866,530 74,424 940,954 216,083 86.70% 94.15% 21.62% 1979 $ 708,132 160,611 0 -5,507 $ 863,236 -------------- $ $ $ 772,215 77,220 849,435 157,619 89.46% 98.40% 18.26% 1978 $ 623,525 153,206 0 -5,438 $ 771,293 -------------- $ $ $ 692,619 62,501 755,120 143,818 89.80% 97.90% 18.65% ,.., ,.., ,.., CllY OF PASCO, WASHINGTON PROPERlY TAX RATES -ALL OVERLAPPING GOVERNMENTS (Per $1,000 of Assessed Value) Last Ten Fiscal Year Table 4 (continued) 1983 1982 1981 1980 1979 $ $ 2.3304 0.3289 0.4141 0.0000 3.0734 3.1098 1.3202 3.8016 0.4254 8.6570 $ 11 .7304 $ 2.3141 0.3787 0.4878 0.0000 3.1806 3.1404 1.3316 3.1770 0.4196 8.0686 11.2492 $ $ 2.4050 0.4205 0.2006 0.0000 3.0261 3.2196 1.2971 3.9853 0.4156 8.9176 $ 11.9437 $ 123 2.7628 0.7105 0.2143 0.0000 3.6876 4.0540 2.1774 3.4043 0.4970 10.1327 13.8203 $ $ 3.1731 0.8592 0.0000 0.0000 4.0323 4.5512 1.5657 4.8699 0.4370 11.4238 15.4561 $ $ 1978 3.3709 0.9751 0.0000 0.0000 4.3460 4.5248 1.6442 5.7435 0.5598 12.4723 16.8183 ,.... ,..... .-, ,-, ,..... r ,..., CITY OF PASCO, WASHINGTON DEMOGRAPHIC STATISTICS Last Ten Fiscal Years Table 11 Fiscal Population Year (1) 1978 16,000 1979 16,370 1980 18,425 1981 18,700 1982 19,050 1983 19,100 1984 18,930 1985 18,700 1986 18,420 1987 18,520 ENTIRE TRI-CITIES POPULATION (1) PASCO KENNEWICK RICHLAND SOURCES: Per Capita Income (2) $ 9,179 9,940 10,377 12,165 12,045 12,358 12,445 12,505 12,602 12,475 1987 18,520 37,320 30,280 86,120 ============== (1) State of Washington Office of Financial Management Median Age (3) 28.6 29.0 29.2 28.5 28.8 27.8 28.9 29.5 30.5 31.0 1985 18,700 36,990 30,508 86,198 -------------- (2) Washington State Employment Security Department (Tri-Cities Annual Average) (3) Tri-City Chamber of Commerce (4) Pasco School District School Enrollment (4) 5,343 5,490 5,535 5,705 5,581 5,753 5,821 5,966 6,217 6,149 1983 19,100 35,700 32,000 86,800 -------------- (5) Washington State Employment Security Department (Pasco, Kennewick, Richland -MSA) 131 Unemployment Rate (5) 6.3% 6.6% 9.8% 8.9% 14.3% 13.8% 13.0% 10.4% 10.0% 11.3% 1981 18,700 34,700 33,700 87,100 ===:::::========== '7 ,....., CITY OF PASCO, WASHINGTON MISCELLANEOUS STATISTICS For the Year Ended December 31, 1987 Table 12 (continued) Fire Protection Police Protection Recreation• Pasco Public Library Schools Churches Hotels/Motels Medical Care Newspaper Radio/Television Stations Insurance Rating: Class V 1 Station, 24 Uniformed Personnel 1987 Fire Loss per Capita: $23.52 -$435,640 Total Loss 1986 Fire and Other Responses: 491 1986 Ambulance Calls: 1,289 1 Station, 32 Sworn Officers 17 Reserve Officers 11 Police Vehicles Multi-Jurisdictional 911 Dispatch Center 16 Parks, 235.36 Acres Developed -146.76 Acres Undeveloped -88.60 Acres No Registered Borrowers; Cards are not Issued Annual Circulation: 158,331 Books: 55,568 8 Elementary -Enrollment 3,672 2 Junior High -Enrollment 1,300 2 Senior High -Enrollment 1,177 40 Protestant 1 Catholic 12 Motels with 886 Rooms; which is 39% of Total Room Availabilty in Tri-Cities 1 General with 119 Beds 5 Chiropractic Centers 1 Migrant Health Center 36 Physicians and Surgeons 14 Dentists Tri-City Herald (Daily Publication) 3 National Networks 1 Cable Company 4 Local Radio Stations 1 Local TV Station • Totals include Golf Course and Cemetery. Totals without these would be: 14 Parks, 65.75 Acres, Developed -55.75 Acre Undeveloped -10 Acres. 133 ,-, CITY OF PASCO, WASHINGTON PRINCIPAL EMPLOYERS IN THE AREA For the Year Ended December 31, 1987 Table 14 ,.., ,-, PRINCIPAL EMPLOYERS: {1) 1. Westinghouse Hanford Company !"-i 2. Battelle Northwest Laboratories 3. Washington Public Power Supply System 4. Iowa Beef Processors, Inc. 5. Kaiser Engineers 6. Advanced Nudear Fuels, Inc. 7. Universal Frozen Foods 8. Pasco School District 9. Lamb Weston, Inc. 9. Boise Cascade 10. Boeing Computer Services 11. Burlington Northern ,.., ,.., '7 SOURCES: (1) Tri-City Industrial Development Council (TRIDEC) Approx. Pasco Number of Franklin Co. Emelolees Location Nature of business 10500 Energy Production 2500 Energy Production 1500 Energy Production 1450 1450 Meat Processing 1000 Energy Production 700 Energy Production 700 700 Food Processing 700 700 Education 600 Food Processing 520 520 Paper/Box Manufacturing 450 Computer Services 350 350 Railroad Transportation 135 ,..., ,..., ,.., GLOSSARY OF TERMS ACCOUNTING PERIOD, A period at the end of which and for which financial statements are prepared. ACCOUNTING SYSTEM, The total structure of records and procedures designed to discover, record, classify, summarize, and report information on the financial position and results of operations of a government or any of its funds, account groups or organizational components. ACCRUAL BASIS. The basis of accounting under which transactions are recognized when they occur, regardless of the timing of related cash receipts and disbursements. AGENCY FUND, A fund used to account for assets held by a government -as an agent for individuals, private organizations, other governments, and/or other funds; for example, taxes collected and held by a county for a fire district. ,..., ,.., ANNUAL BUDG..!;;L A budget applicable to a single fiscal year. See also BUDGET and OPERATING BUDGET. APPROPRIATION. A legal authorization granted by a legislative body to make expenditures and to incur obligations for specific purposes. An appropriation is usually limited in amount and as to the time when it may be expended. ASSESSED VALUATION. A valuation set upon real estate or other property by a government as a basis for levying taxes. ASSETS. value. Resources owned or held by a government which have monetary BALANCE SHEET, The basic financial statement which discloses the assets, liabilities, and equities of an entity at a specified date in conformity with GAAP. BASIC FINANCIAL STATEMENTS. Those financial statements, including notes thereto, which are necessary for a fair presentation of the financial position and results of operations of an entity in conformity with GAAP. Under Statement 1, basic financial statements include a balance sheet, an "all inclusive" operating statement, and (for proprietary funds, pension trust funds and nonexpendable trust funds) a statement of changes in financial position. BOND. A written promise to pay a specified sum of money, called the face value or principal amount, at a specified date or dates in the 137 ,-, CASH BASIS, A basis of accounting under which transactions are recognized only when cash is received or disbursed. COMBINED STATEMENTS -OVERVIEW, The five basic financial statements comprising the first of the financial reporting pyramid's three ,-, reporting levels containing GAAP basic financial statements. They include: (1) Combined Balance Sheet -All Fund Types and Account Groups; (2) Combined Statement of Revenues, Expenditures, and ..., Changes in Fund Balances -All Governmental Fund Types; (3) Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual -General and Special Revenue Fund types (and similar governmental fund types for which annual budgets have been legally adopted); (4) Combined Statement of Revenues, Expenses, and Changes in Fund Equities -All Proprietary Fund Types; (5) Combined Statement of Changes in Financial Position -All Proprietary Fund Types; and (6) Notes to the Financial Statements. Trust Fund operations may be reported in (2), (4), and (5) above, as appropriate, or separately. The Combined Statements -Overview are also referred to as the "liftable'' general purpose financial statements (GPFS). ,...., ,..., r, r COMBINING STATEMENTS -BY FUND TYPE, The second of the financial reporting pyramid's three reporting levels containing GAAP basic financial statements. Such statements are presented for each fund type for which the government maintains more than one fund. They include GAAP basic financial statements for each fund of a particular fund type in separate adjacent columns and a total column for all funds of the particular fund type. COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR). The official annual report of a government. It includes five Combined Statements - Overview (the "liftable'' GPFS) and basic financial statements for each individual fund and account group prepared in conformity with GAAP and organized into a financial reporting pyramid. It also includes Supporting Schedules necessary to demonstrate compliance with finance related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section. CONTINGENT LIABILITIES, Items which may become liabilities as a result of conditions undetermined at a given date, such as guarantees, pending law orders, and uncompleted contracts. All contingent liabilities should be disclosed within the basic financial statements, including the notes thereto. CONTINUING APPROPRIATION. An appropriation which, once established, is automatically renewed without further legislative action, period after period, until altered, revoked, and expended. 139 ,., ,..., ,.., DOUBLE ENTRY, A system of bookkeeping which requires an entry to the debit side of an account or accounts for the corresponding amount or amounts of the entry to the credit side of another account or accounts. ENCUMBRANCES, Commitments for unperformed (executory) contracts for goods or services. ENTERPRISE FUND, A fund established to account for operations (a) that are financed and operated in a manner similar to private business enterprises -where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. Examples of enterprise funds are those for water and golf course. ENTITLEMENT, The amount of payment to which a state or local government is entitled as determined by the federal government (e.g., the Director of Office of Revenue Sharing) pursuant to an allocation formula contained in applicable statutes. EQUITY ACCOUNTS, Those accounts showing the excess of assets over liabilities in the fund. EXPENDABLE TRUST FUND. A trust fund whose resources, including both principal and earnings, may be expended. Expendable trust funds are accounted for in essentially the same manner as governmental funds. EXPENDITURES. Decreases in net current assets. Expenditures include debt service, capital outlays, and those current operating costs which require the use of current assets. EXPENSES. Decreases in net total assets. Expenses represent the total cost of operations during a period regardless of the timing of related expenditures. FISCAL AGENT. A fiduciary agent, usually a bank or county treasurer, who performs the function of paying debt principal and interest when due. FIXED ASSETS. Assets which are intended to be held or used for a long term, such as land, buildings, improvements other than buildings, machinery and equipment. In common usage, the term refers only to operating facilities and equipment, not to long-term investments and other non-current assets. 141 ,..., ,..., ,.., GENERAL LONG-TERM DEBT ACCOUNT GROUP. A self-balancing group of accounts set up to account for the unmatured general long-term debt of government. See GENERAL LONG-TERM DEBT. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES CGAAPl Uniform minimum standards for financial accounting and reporting. They govern the form and content of the basic financial statements of an entity. GAAP encompass the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. They include not only broad guidelines of general application, but also detailed practices and procedures. GAAP provide a standard by which to measure financial presentations. The primary authoritative statement on the application of GAAP to state and local governments is NCGA Statement 1. GENERALLY ACCEPTED AUDITING STANDARDS (GAAS), Measures of the quality of the performance of auditing procedures and the objectives to be attained through their use. They are concerned with the ,.., auditor's professional qualities and with the judgment exercised in the performance of an audit. Generally accepted auditing standards have been prescribed by (1) the American Institute of Certified Public Accountants (AICPA) and (2) the U.S. General Accounting Office (GAO) in Standards for Audit of Governmental Organizations, Programs, Activities, & Functions (the "yellow book"). GENERAL OBLIGATION BONDS, Bonds for the payment of which the full faith and credit of the issuing government are pledged. GPFS, Those basic financial statements which comprise the minimum acceptable fair presentation in conformity with GAAP. In Statement 1, NCGA redefined governmental GPFS to consist of financial statements for each of the eight fund types and for both account groups presented in separate adjacent columns on the financial reporting pyramid's five Combined Statements -Overview. See BASIC FINANCIAL STATEMENTS, COMBINED STATEMENTS -OVERVIEW. GRANTS. External contributions or gifts of cash or other assets to be used or expended for a specified purpose, activity, or facility. See also CAPITAL GRANTS, OPERATING GRANTS, CONTRIBUTED CAPITAL, PASS-THROUGH RESOURCES and RESIDUAL EQUITY TRANSFERS. IMPROVEMENTS, Buildings, other structures, and other attachments or annexations to land which are intended to remain so attached or annexed, such as sidewalks, trees, drives, tunnels, drains, and sewers. Sidewalks, curbing, sewers, and highways are sometimes referred to as "betterments", but the term "improvements" is preferred. See also INFRASTRUCTURE ASSETS. INCOME BEFORE OPERATING TRANSFERS, Proprietary fund operating income adjusted by nonoperating revenues and nonoperating expenses. 143 ,.., INTERFUND TRANSFERS. There are two types of interfund transfers. Both types involve the permanent (or at least long-term) movement of resources between funds. For any one transaction, the transfer-in and the transfer-out must be classified in the same way, so that the total operating transfers-in for the entire municipality equals the total operating transfers-out and the total residual equity transfers-in equal the total residual equity transfers-out. Residual Equity Transfers. different sorts. These transfers are of three a. Transfers at the closeout of a discontinued fund or one-time n contributions ,.... ,.., ,.., ,...., b. The interfund equivalent of "capital grant" or its repayment. c. Normally, these residual equity transfers will involve both a proprietary fund and a governmental fund. Such transfers must be contributions restricted to capital outlays or the return of such contributions. Contributions to an internal service fund to establish or increase its working capital and repayment of such contributions. Residual equity transfers are reported as direct additions to or deductions from beginning fund balance in governmental funds and as direct additions to or deductions from fund equities (contributed capital or retained earnings, as appropriate) in proprietary funds. Operating Transfers. All other interfund transfers are operating transfers. These transactions are the interfund equivalent of operating subsidies. Their purpose is to support the normal level of operations in the recipient fund. INTERGOVERNMENTAL REVENUES, Revenues from other governments in the form of grants, entitlements, shared revenues, or payments in lieu of taxes INTERNAL SERVICE FUND. A fund used to account for the financing of goods or services provided by one department or agency to other departments or agencies of a government, or to other governments, on a cost-reimbursement basis. INVENTORY, A detailed list showing quantities, descriptions, and values of property, and frequently, units of measures and unit prices. 145 ,.., ,., ,.., r, .., ,..., ,...., ,..., NET INCOME. Proprietary fund excess of operating revenues, nonoperating revenues, and operating transfers-in over operating expenses, nonoperating expenses, and operating transfers-out. NONEXPENDABLE TRUST FUND, A trust fund, the principal of which may not be expended. Nonexpendable trust funds are accounted for in essentially the same manner as proprietary funds. NONOPERATING EXPENSES, Proprietary fund expenses which are not directly related to the fund's primary service activities. NONOPERATING REVENUES, Proprietary fund revenues which are incidental to, or by-products of, the fund's primary service activities. NOTE PAYABLE, In general, an unconditional written promise, signed by the maker, to pay a certain sum in money on demand or at a fixed or determinable future time either to the bearer or to the order of a person designated therein. The note may be held by the reporting governmental unit as designated payee or by endorsement. NOTE RECEIVABLE. An unconditional written promise, signed by the maker, to pay a certain sum in money on demand or at a fixed or determinable future time either to the bearer or to the order of a person designated therein. NOTES TO THE FINANCIAL STATEMENTS, The summary of significant accounting policies and other disclosures required for a fair presentation of the basic financial statements of an entity in conformity with GAAP which are not included on the face of the basic financial statements themselves .. The notes to the financial statements are an integral part of the basic financial statements. OPERATING BUDGET. Plans of current expenditures and the proposed means of financing them. The annual operating budget (or, in the case of some state governments, the biennial operating budget) is the primary means by which most of the financing of acquisition, spending, and service delivery activities of a government are controlled. The use of annual operating budgets is usually required by law. Even where not required by law, however, annual operating budgets are essential to sound financial management and should be adopted by every government. See BUDGET. OPERATING EXPENSES, Proprietary fund expenses which are directly related to the fund's primary service activities. 147 ,.., ,-, ,.., ,..., ,-, ...., PETTY CASH. A sum of money set aside on an imprest basis for the purpose of making change or paying small obligations for which the issuance of a formal voucher and warrant would be too expensive and time consuming. Petty cash accounts are sometimes referred to as petty cash "funds". However, they are not "funds" in the sense of governmental accounting's eight fund types. Petty cash accounts should be reported as assets of the fund of ownership. RECEIPTS. Cash received. REFUND. (Noun) The recovery of an item previously expensed or the repayment of an item previously recorded as revenue. Such refunds should be included in revenues, expenditures, or expenses of the current accounting period. (Verb) To pay back or allow credit for an amount because of an overcollection or because of the return of an object sold. Such charges or credits should be made to the account where the original transaction was recorded. (Verb) To provide for the payment of an obligation through cash or credit secured by a new obligation. REFUNDING BONDS, Bonds issued to retire bonds already outstanding. The refunding bonds may be sold for cash and outstanding bonds redeemed in cash, or the refunding bonds may be exchanged with holders of outstanding bonds. REGISTERED WARRANT, A warrant which is registered by the paying officer for future payment due to a present lack of monies and which is to be paid in the order of its registration. In some cases, such warrants are registered when issued; in others, when first presented to the paying officer by the holders. See WARRANT. REIMBURSEMENTS, Reimbursements are transactions that reduce expenditures or expenses in the fund that is reimbursed. These transactions include refunds of expenditures, internal prorations of costs, and payments received for others' share of pooled purchases. RESERVE. (1) An account used to segregate a portion to indicate that it is not available for expenditure; account used to segregate a portion of fund equity as aside for a specific future use. RESIDUAL EQUITY TRANSFERS, See INTERFUND TRANSFERS. of fund and (2) legally balance an set REVENUE BONDS. Bonds whose principal and interest are payable exclusively from earnings of an enterprise fund. In addition to pledge of revenues, such bonds sometimes contain a mortgage on the enterprise fund's property. 149 STATEMENT OF REVENUES AND EXPENDITURES, The basic financial statement which is the governmental fund and expendable trust fund GAAP operating statement. It presents increases (revenue and other financing sources) and decreases (expenditures and other financing uses) in an entity's net current assets. STATEMENT OF REVENUES AND EXPENSES. The basic financial statement which is the proprietary fund, nonexpendable trust fund, and pension trust fund GAAP operating statement. It presents increases (revenues) and decreases (expenses) in an entity's net total assets. SUPPORTING SCHEDULES. Financial presentations used: (1) to demonstrate compliance with finance-related legal and contractual provisions; (2) to present information spread throughout the basic ~ financial statements that can be brought together and shownin greater detail (e.g., schedule of taxes receivable); (3) to present greater detail for information reported in the basic ~ financial statements (e.g., detail of revenues and expenditures by element and object); and (4) to present information not disclosed in GAAP basic financial statements (e.g., operation of cash). TAXES. Compulsory charges levied by a government for the purpose of financing services performed for the common benefit. This term does ,.., not include specific charges made against particular persons or property for current or permanent benefits such as special assessments. Neither does the term include charges for services rendered only to those who pay, for example, sewer service charges. ,.., r, TRANSFERS. See INTERFUND TRANSACTIONS. TRUST FUNDS, Funds used to account for assets held by a government in a trustee capacity for individuals, private organizations, other governments, and/or other funds. TRUST AND AGENCY FUND. One of the eight generic fund types in governmental accounting. See TRUST FUNDS and AGENCY FUND. UNENCUMBERED APPROPRIATION. That portion of an appropriation not yet expended or encumbered. UNEXPENDED APPROPRIATION. expended. That portion of an appropriation not yet VOUCHER. A written document which evidences the propriety of transactions and usually indicates the accounts in which they are to be recorded. 151