Types of Funds

Types of Funds

There are three main fund types within the Stillwater budget:  Governmental,  Business-Like Funds, and Trust and Agency Funds.

Some funds are restricted, which means money can only be used as allocated, and some are unrestricted, which can be used for whatever purpose deemed necessary.

Restricted budgets are similar to a health savings account you might receive from your employer and can only use on health-related expenses. Unrestricted funds are similar to your monthly allowance — you may use it however you wish.

Governmental (General) Funds

Governmental (General) Funds provides funding for general government needs, public safety, public works and community services.

Types of Funds Graphic

  • Special Revenue Fund (restricted funds)
    The money in this fund is restricted, which means it can only be used for what it was allotted for. Stillwater’s Special Revenue Funds include the following:

  • Community Investment Fund (restricted funds)
    Money from this fund is used to pay for or build large costly assets. Stillwater’s Community Investment Fund is the Transportation Improvement Fund.

  • Debt Service Fund (restricted funds)
    This fund is set aside to pay interest and finance bonds, the sale of which pays for long-term capital improvements including the following:

    • Streets and drainage

    • City facilities

  • Internal Service Fund 
    These funds are provided by one department for another, which includes the following:

    • Risk management

    • Health claims

Business-Like Funds

Business-Like funds are similar to business transactions in that the City provides a service and the user pays for it (no taxes are involved). For example, the City provides water to residents and businesses and in turn, they pay for what they use. Examples include:

  • Water and waste water

  • Electricity

  • Waste management services

  • Airport

Trust & Agency Funds

Trust funds account for assets held by the government in a trustee capacity. Agency funds account for assets held by the government as an agent. Examples include:

  • Escrow fees

  • Public library donations

Content last reviewed 06.17.2020