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Conejo Recreation and Park District Notes to Basic Financial Statements (Continued) June 30, 2018 Note 1— Summary of Significant Accounting Policies (Continued) B. Basis of Accounting and Measurement Focus (Continued) Major Funds (Continued) Districtwide Assessment District S cial Revenue Fund -This fund accounts for and reports proceeds of specific revenue sources that are restricted or committed to expenditures for specified maintenance and construction projects in the assessment district. Dos Vientos Assessment District Special Revenue Fund — This fund accounts for and reports proceeds of specific revenue sources that are restricted or committed to expenditures for acquisition and construction of capital assets and maintenance within the Dos Vientos Assessment District. Rancho Cone'o Assessment District Special Revenue Fund — This fund accounts for and reports proceeds of specific revenue sources that are restricted or committed to expenditures for acquisition and construction of capital assets and maintenance within the Rancho Conejo Assessment District. Ca ital ro'ects F — This fund accounts for and reports financial resources that are restricted, committed, or assigned for the acquisition or construction of major capital facilities. Fiduciary Fund Financial Statements Fiduciary fund financial statements include a Statement of Fiduciary Net Position. The District's fiduciary funds represent agency funds. Fiduciary fund types are accounted for according to the nature of the fund. Agency funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Agency funds are accounted for using the accrual basis of accounting. Fiduciary Funds Agency Funds -- These tunas account for assets of others for which the District acts as an agent. The District maintains seven agency funds: Farland House Revolving, Wiidwood Flood Repair, Goebel Adult Community Center, Fireworks Trust, CSVP Advisory Council, Therapeutic Advisory Council, and Teen Center Advisory Council Fund. C Cash, Cash Equivalents and Investments The District's cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturity of three months or less from the date of acquisition. Cash and cash equivalents are combined with investments and displayed as cash and investments. Highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized cost. All other investments are stated at fair value. Market value is used as fair value for those securities for which market quotations are readily available. D. Prepaid Items Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items. 30