Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Nonmajor Governmental Fund Financial Statements
Special Revenue Funds are used to account for specific revenues that are legally restricted to
expenditures for specified purposes. The nonmajor special revenue funds used by the City in this report
are listed below:
Clean Beaches and Ocean Parcel Tax Fund – To account for activity related to implementation
of Watershed Management Plan and the passage of Measure V in November 2006.
Beach Recreation Fund – To account for beach parking and concession revenues and
expenditures related to beach maintenance and recreation activities.
Housing Authority Fund – To account for the receipt and expenditure of Federal and State
funds related to housing programs.
Disaster Relief Fund (Special Revenue Fund Type) – To account for Federal and State disaster
relief revenues and expenditures associated with recovery from the January 17, 1994 Northridge
Earthquake.
Tenant Ownership Rights Charter Amendment (TORCA) Fund – To account for filing fee
and conversion tax revenues and expenditures related to various housing programs authorized by
Chapter XX of the City Charter.
Community Development Block Grant (CDBG) Fund – To account for Federal entitlements
under the Housing and Community Development Act of 1974, as amended. The City Council
annually allocates CDBG funds to various programs.
Miscellaneous Grants Fund – To account for the receipt and expenditure of Federal, State and
County awarded grants and special allocations provided to the City.
Citizens Option for Public Safety Fund – To account for the receipt and expenditure of the
Citizens Option for Public Safety program established by AB3229 of 1996.
Rent Control Fund – To account for revenues and expenditures of the Rent Control Board.
Air Quality Management District (AQMD) Fund – To account for the receipt and expenditure
of Air Quality Management District funds.
Parks & Recreation Fund – To account for funds collected under the City's Unit Dwelling Tax.
These funds are to be used for the acquisition, improvement and expansion of public parks,
playgrounds and recreational facilities.
Asset Seizure Fund – To account for the receipt and expenditure of equitable sharing program
funds.
Gas Tax Fund – To account for State and County gasoline tax allocations and any Federal funds
provided to the City for street-related purposes.
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