Town of Blacksburg Adopted Operating Budget FY 2027

PROGRAM DESCRIPTION (continued) The Solid Waste and Recycling Fund is an enterprise fund established to finance and account for the efficient and environmentally proper disposal of municipal solid waste. Included as part of the fund's waste management activities is the administration and funding for the Town's recycling and waste reduction programs. The General Fund receives a transfer from the Solid Waste and Recycling Fund as reimbursement for public works, engineering, administration, human resources, financial and information technology services. The Transit Fund is an enterprise fund that contains all revenues and expenditures for Blacksburg Transit operations. This fund is supported from revenue received from Virginia Tech, Christiansburg, and State and Federal grants. The General Fund receives a transfer from the Transit Fund each year as reimbursement for public works, engineering, administration, human resources, financial and information technology services. The Stormwater Fund is an enterprise fund that is established to provide a dedicated revenue source to fund stormwater infrastructure maintenance and improvements in compliance with environmental regulations. The General Fund receives a transfer from the Stormwater Fund each year as reimbursement for public works, engineering, administration, human resources, financial, and information technology services. The Equipment Operations Fund is an internal service fund that contains funding for maintaining the Town's equipment and vehicle fleet. Each department using Equipment Operation services contains funding, which is transferred to the Equipment Operations Fund during the year to pay for the annual cost of maintaining vehicles assigned to the department. The Debt Service Fund accounts for the resources accumulated and payments made for principal and interest on long-term general obligation debt of governmental funds. Budgets for principal and interest payments however are budgeted for within each applicable fund. The Fiduciary Funds are used to account for monies held by the Town as an agent or custodian for others. These funds consist of the New River Valley Alcohol Safety Action Program (VASAP) and the Virginia Tech-Montgomery Executive Airport Authority. These funds are not included in the Town’s budget since their budgets are approved by their respective Boards. In addition, the Town accounts for employees’ Other Post Employment Benefits (OPEB) that are held in a trust.

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