Loveland receives revenue from many different sources, some of which have legal restrictions on how money can be used.

General Fund

The City’s General Fund is the main operating fund for the City of Loveland. It’s the backbone that supports a variety of governmental functions, services and programs provided to the community such as public safety, public works, parks and recreation, administration and other essential services.

The General Fund is not limited to specific uses, so the City can spend it flexibly on what's most needed at any time. The main sources of revenue for this fund are from sales tax, property tax, use tax, service fees, and interest income.

Key points about the General Fund:

The General Fund is just one part of the City's finances. Other funds are used for specific purposes, including Enterprise Funds for designated services, capital funds for big projects, and funds for paying debts or special revenue projects. The distinction between these funds is important in ensuring transparency and accountability in financial management.

Enterprise Fund

Thinking of it as a business supporting itself, an Enterprise Fund is a business unit run by the City that pays for itself with the revenue it makes from the people who use it. Loveland has 19 of these funds for different services, including funds like:

• Golf
• Loveland Pulse
• Mosquito Control
• Solid Waste/Recycling
• Stormwater
• Water and Power
• Wastewater

Special Revenue Fund

Special Revenue Funds are dedicated funds that are established by federal or state law, or by municipal ordinance or resolution. For example, the Conservation Trust Fund receives its funding from lottery sales and can only be used for parks and recreation. The City has 20 of these funds, including funds like:

• County Open Space Sales Tax
• Community Development Block Grant (CDBG)
• Art in Public Places
• Lodging Tax
• Public, Educational, & Government Access Fee

Contingency Reserve Fund

The City keeps a Contingency Reserve Fund, or “emergency/rainy day fund” for times when there isn't enough revenue coming in to meet obligations and pay for services. City policy says this fund should have enough money to cover two months of the General Fund's operating costs.

This fund is important for keeping essential and critical services running if something unexpected happens, like a natural disaster, economic downturn or new laws that reduce the City's income. The City used this Contingency Fund during the 2013 Flood and the COVID Pandemic. Per the [Fund Balance and Reserve Policy, the City of Loveland is required to replenish expended funds utilized from the Contingency Reserve Fund.

Learn more about how this fund is managed by checking the Fiscal Contingency Plan.