VILLAGE OF GRAFTON NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2016 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) E. INTERFUND ADVANCES AND TRANSFERS (cont.) Transfers (cont.) Fund Transferred To Fund Transferred From Amount Principal Purpose Capital Project Fund - TID No. 4 Capital Project Fund - TID No. 5 331,055 Donation to offset deficit General Fund Wastewater Utility 9,227 Property tax equivalent General Fund Water Utility 200,773 Property tax equivalent Total - Fund Financial Statements 5,034,071 Less: Fund eliminations (4,502,541) Total Transfers - Government-Wide Statement of Activities $ 531,530 Fund Transferred To Fund Transferred From Amount Governmental Activities Business-type Activities $ 531,530 Business-type Activities Governmental Activities (531,530) Total Government-wide Financial Statements $ - Generally, transfers are used to (1) move revenues from the fund that collects them to the fund that the budget requires to expend them, (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service fund, and (3) use unrestricted revenues collected in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. For the statement of activities, interfund balances which are owed within the governmental activities or business-type activities are netted and eliminated. 71