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Combining Schedules of Nonmajor Governmental Funds
Nonmajor Special Revenue Funds
Nonmajor Special Revenue Funds are used to account for proceeds of specific revenue sources that are legally restricted to pay for specified activities.
Food and Nutrition Services Fund – To account for food and nutrition services activities, including the serving of breakfast and lunch at the schools.
Nonmajor Debt Service Funds
Nonmajor Debt Service Funds are used to account for resources accumulated, primarily from tax proceeds and earnings on temporary investments, for the payment of principal and interest of long-term liabilities.
State Board of Education Bonds Fund – To account for payment of principal and interest on various bond issues serviced by the State of Florida on the District’s behalf.
District Revenue Bonds Fund – To account for payment of principal and interest on Motor Vehicle License Tax Revenue Bonds, which are secured by racetrack funds and jai alai fronton funds received annually by Pasco County pursuant to Chapter 79-548, Special Acts of 1979, Laws of Florida.
Nonmajor Capital Projects Funds
Nonmajor Capital Projects Funds are used to account for resources to be used for the acquisition and construction of major capital assets; such as: land, new school buildings, additions to existing buildings, major renovation projects, school buses, and equipment and furniture.
District Revenue Bonds Fund – To account for special act bond proceeds to be used for construction, remodeling, renovation, and site improvement of educational facilities.
Public Education Capital Outlay Fund – To account for Gross Receipts Tax to be used for construction, remodeling, renovation, and site improvement of educational facilities.
Capital Outlay and Debt Service Fund – To account for the excess dollars from the debt service funds used for construction and maintenance of schools.
Local Optional Millage Levy Fund – To account for funds received from the assessment of property taxes for construction and maintenance of schools.