City of Rye
Finance Department
Description of Funds and Account Groups

The city maintains its books of accounts in accordance with generally accepted accounting principles ("GAAP") for the following funds and account groups:

• General Fund - This fund constitutes the primary operating fund of the city in that it includes all revenues and expenditures not required by law to be accounted for in other funds.
• Cable TV Special Revenue Fund - This fund is used to account for revenues received from the franchise holder for public access cable television programming, and the expenditures related to the operation and maintenance of the city's Rye Community Television (RCTV) station.
• Nature Center Special Revenue Fund - This fund is used to account for revenues received from state and federal grants, and other grants, gifts and donations specifically designated to promote nature conservancy, and the expenditures related to the operation and maintenance of the Rye Nature Center.
• Boat Basin Enterprise Fund - This fund is a "proprietary fund", operating in a manner similar to a private enterprise, and accounts for the activity of the DePauw Municipal Boat Basin.
• Golf Club Enterprise Fund - This fund is another proprietary fund, accounting for the activity of the Rye Golf Club.
• Risk Retention Internal Service Fund - This fund is a proprietary fund, accounting for the city's general liability self-insurance program.
• Building and Vehicle Maintenance Internal Service Fund - This fund is a proprietary fund, accounting for the maintenance, repair and replacement of the city's buildings and vehicles not otherwise accounted for in the city's enterprise funds.
• Fiduciary Funds - The city maintains several trust and agency funds, which account for assets held by the city in a trustee or custodial capacity.
• General Fixed Assets Account Group - This group of accounts is established to account for all fixed assets other than those accounted for in proprietary funds.
• General Long-Term Debt Account Group - This group of accounts is established to account for all long-term debt other than that accounted for in proprietary funds.