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mmour 9� GENERAL FUND t A • •/4 The General Fund is the chief operating fund of the County. The ending fund balance as of September 30, 2016 was $48.4 million. In 2010, the County implemented the Governmental Accounting Standards Board (GASB) Statement 54. The objective of Statement 54 is to provide clearer fund balance classifications that can be more consistently applied and by clarifying the existing governmental fund type definitions. Fund Balance Comparison Nonspendable Restricted Committed Assigned Unassigned Total 2016 $371,121 1,000,000 1,166,830 45,909,787 $48,447,738 2015 $459,546 1,000,000 1,092,575 47,727,109 $50,279,230 The fund balance classifications used are: • Nonspendable - Amounts that cannot be spent because they are not in spendable form, such as inventory, prepaid items, and advances to other funds. • Restricted - Use of these resources is based on constraints imposed by external parties, such as creditors, grantors, contributors, or laws and regulations. • Committed - Amounts that can only be spent by approval by a County ordinance by the Board of County Commissioners. • Assigned - Amounts are designated for specific purposes by the Board of County Commissioners via budget amendments and do not meet the criteria of restricted or committed classifications. • Unassigned - Amounts in the general fund that do not meet any other fund balance classifications. $50.3 $52.9 $55.6 Fund Balance Trend (in millions as of September 30) $56.5 $56.8 $54.3 $49.9 $51.7 $50.3 $48.4 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 14 Stins t over the Indian River Photo courtesy of Laura McIver .h• VIP 'h. • • •r - r • +