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Formal budgetary integration is used as the year for all a management control device during maintained atthe fund governmental Bunds for County. Budgetary control is Debt Service, Capital Projects and Special AssessmenttheaFundseareladoptedeonna consistent stent with generally accepted accounting principles (GAAP), All appropriations lapse at year-end. The County's accounting system is organized and operated on a "fund" basis, which is the basic fiscal and accounting entity in government accounting. Each fund is classified by category and fund type. For descriptions of the County's funds, account groups and a summary of significant accounting Policies, see the notes to the financial statements. An abbreviated summary of the classes of funds is outlined below. GOVERNMENTAL FUNDS The Governmental Fund measurement focus is based upon determination of financial position and changes in financial position (sources, uses, and balances of financial resources)rather than upon net income determination. These funds are maintained on a modified accrual basis of accounting. Basic financial statements necessary to fairly present financial position and operating results for these funds are the balance sheet and the statement of revenues, expenditures and changes in fund balance. PROPRIETARY FUNDS The Proprietary Fund measurement focus is based upon the determination of net income, financial position and changes in financial position. These funds are maintained on an accrual basis of accounting. Basic financial required are the balance sheet, statements statement of revenues, expenses and changes in retained earnings, and statement of changes in financial position. FIDUCIARY FUNDS The measurement focus for Trust and Agency Funds is dependent on the nature of the fund. The Expendable Trust Fund is accounted for in essentially the same manner as the Governmental Funds, while Agency Funds are purely custodial (assets equal liabilities) and thus do not involve measurement of results of operations. ACCOUNT GROUPS The General Fixed Assets and General Long -Term Debt Account Groups are used to establish accounting control and accountability for the County's general fixed assets and general long-term debt. The County's general fixed assets (all fixed assets, except those accounted for in proprietary funds) are not financial resources available for expenditure. The unmatured principal of the County's general long-term debt (long-term liabilities not accounted for in proprietary funds) does not require the use of financial resources during the current accounting period. Accordingly, these are not accounted for in the governmental funds, but in self -balancing account groups. COMPREHENSIVE ANNUAL FINANCIAL REPORT This Comprehensive Annual Financial Report, together with the accounting budgetary systems, has been designed to conform to the standards set forth by the Governmental Accounting Standards Board, the Financial Accounting Standards Board, and the American Institute of Certified Public Accountants. Fund structure has been designed to comply with the legal requirements of the Florida Statutes, Ordinances of the County, and the legal requirements of the various bond resolutions. The fiscal year of the County begins October 1 and ends September 30, as required by Florida Statutes. All references to years in this report are to the fiscal year ended September 30 of the referenced year. MAR 2 41997 38 Boa 67 F, E687