Budget for Website - Flipbook - Page 28
departments, such as equipment use or administrative overhead, when applicable.
Fiduciary Funds
Fiduciary funds account for assets held by the City in a custodial or trustee capacity, including:
• Escrow accounts
• Payroll withholdings
• Pension and retiree health plans
Fiduciary funds are not budgeted for in the annual budget, as they do not fund City operations,
but they are reported in the City’s Annual Comprehensive Financial Report (ACFR).
Basis of Budgeting by Fund Type
Modified accrual basis for governmental funds, where revenues are recorded when
measurable and available and expenditures are recorded when liabilities are
incurred.
Full accrual basis for proprietary funds, where revenues are recorded when earned
and expenses when incurred, regardless of cash flow.
Fund Type
Governmental
Enterprise
Internal Service
Fiduciary
Plymouth Funds
General, Streets, PEG, Capital
Water, Sewer, Parking
Internal Service Funds
Trust & Custodial funds
City of Plymouth 2026/27 Budget
Budget / Accounting Basis
Modified Accrual
Budgeted annually; reported on Full Accrual
Full Accrual
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