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<br />taxes now encompass a far larger share of the City's General Fund revenue base (48%). While property <br /> <br /> <br />taxes are one of the least volatile revenues, it is still important to have a diversified revenue base that <br /> <br /> <br />includes as much locally generated revenue as possible. The City's best defense against possible future <br /> <br /> <br />economic downturns and State budget impacts is to maintain as diverse a revenue base as possible, with <br /> <br /> <br />little reliance on outside sources. This philosophy is expressed in many of the goals and policy <br /> <br /> <br />statements contained in this Element. <br /> <br />Budget Structure <br /> <br /> <br />The City routinely prepares two budgets. The first is the Operating Budget, which is its <br /> <br /> <br />comprehensive financial plan for providing all programs and services to the conununity. The second is <br /> <br /> <br />the Capital Improvement Program Budget, which is a multi-year plan outlining major capital <br /> <br /> <br />expansion, improvement, and replacement projects, including infrastructure and facilities. <br /> <br />The City segregates different types ofrevenues and expenditures into "Funds." A Fund is an entirely <br /> <br /> <br />separate accounting entity. Each Fund has been established because of some restriction on the use of <br /> <br /> <br />resources received by the Fund, or by the need to separately budget and account for its activities. Funds <br /> <br /> <br />are organized into the following types: <br /> <br /> <br />. General Fund <br /> <br /> <br />. Enterprise Funds <br /> <br /> <br />. Debt Service Funds <br /> <br /> <br />. Intemal Service Funds <br /> <br /> <br />. Trust Funds <br /> <br /> <br />. Special Revenue Funds <br /> <br /> <br />. Capital Project Funds <br /> <br />The Fund structure is required by governmental accounting standards and serves the City in providing <br /> <br /> <br />the framework for meeting many of the financial goals and policies stated in this Element. For example, <br /> <br /> <br />this structure allows the City to segregate development-related revenue from other revenues to help <br /> <br /> <br />ensure that the City meets its goal of recovering capital costs necessitated by build out of the General <br /> <br /> <br />Plan. It also allows the identification of future replacement costs to ensure that adequate funding is a <br /> <br />XI-5 <br />