Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Commission to keep recreation facility in capital projects/general fund for now; enterprise fund option deferred
Summary
Staff told commissioners that GASB guidance may require an enterprise fund only if policy is to have facility revenues cover all costs; given outstanding questions and a pending potential state law change, the commission directed staff to leave the project in the capital projects/general fund for now and revisit later if needed.
City staff updated commissioners on fund-accounting options for the proposed recreation facility and related facilities (golf course, community gyms) and on examples from peer cities.
Staff told the commission that no state law requires the facility to be an enterprise fund, but Governmental Accounting Standards Board (GASB) guidance typically requires enterprise accounting if a facility's revenues are intended to cover all or most of its costs. Staff cited examples—Williamson County,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
