Appendix R Structure of Municipal Funds
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Appendix R outlines the Municipality of Anchorage's fund accounting structure, which uses Governmental, Proprietary, and Fiduciary Fund types to track resources and ensure compliance with finance-related legal requirements. Governmental funds are grouped into general, special revenue, capital projects, debt service, and permanent funds, with the Anchorage Assembly approving operating budgets at the department level and revenues/expenditures appropriated at the fund level. The document explains that governmental funds use modified accrual accounting, recognizing revenues when measurable and available, and recording expenditures when liabilities are incurred, with exceptions for debt service and compensated absences paid only when due.
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