Major Funds. $($LO$2-4)$ At the end of the fiscal year, Palm City was trying to determine which of its funds would be required to be reported as major funds in accordance with GASB standards. Palm City has provided the information for all of its governmental and enterprise funds that is needed to determine major fund classification in accordance with GASB standards. Note the city has no deferred outflows of resources or deferred inflows of resources. Identify for the city which of its funds should be classified as major and explain how you determined that the fund would be considered as major under GASB standards.