Chapter 3.90
FUND ACCOUNTING

Sections:

3.90.010    Accounts established.

3.90.010 Accounts established.

The following fund accounts are established and repealed to bring the town’s fiscal accounting system into conformance with applicable state law. When any other provision of this title appears to conflict with this chapter, this chapter shall govern.

(1) Ordinance 494 (2007) is repealed in its entirety.

(2) The following fund accounts are authorized and hereby established:

(a) Fund 103 – Library, Fund 104 – Swimming Pool, and Fund 105 – Parks are hereby abolished, and all remaining balances from those funds shall be transferred to Fund 001.

(b) Fund 107 – Current Expense Cumulative Reserve (formerly Cumulative Reserve Timber) is hereby retitled.

Fund 106 – Timber Operation Fund, Fund 111 – Disability Fund, 410 – Reforestation Fund, and 113 – Audit Reserve are hereby abolished, and all remaining balances from those funds shall be transferred to Fund 107.

(c) Fund 401 – Water/Sewer Department is hereby established.

Fund 408 – Public Works Trust Fund Loan Redemption is hereby abolished, and all remaining balances from that fund shall be transferred to Fund 401.

(d) Fund 402 – Water Cumulative Reserve is hereby established.

Fund 109 – Cumulative Reserve, Water/Sewer Equipment, is hereby abolished, and one-half of any remaining balance shall be transferred to Fund 402.

Fund 112 – Water Emergency Fund, and Fund 413 – Water Main Replacement Reserve are hereby abolished, and all remaining balances from those funds shall be transferred to Fund 402.

(e) Fund 403 – Sewer Cumulative Reserve is hereby established.

Fund 109 – One-half of any remaining balance shall be transferred to Fund 403.

Fund 110 – Sewer Capital Projects Reserve, and Fund 114 – Sewer Emergency Reserve are hereby abolished, and all remaining balances from those funds shall be transferred to Fund 403.

(f) Fund 406 is hereby retitled the Water/Sewer Revenue Bond Redemption Fund.

Fund 109 – 1997 Water Principal/Interest Fund is hereby abolished, and any balance remaining in that fund shall be transferred to Fund 406.

(g) Fund 407 is hereby retitled the Water/Sewer Revenue Bond Reserve Fund.

Fund 409 – 1997 Water Bond Reserve Fund is hereby abolished, and any balance remaining in that fund shall be transferred to Fund 407.

(h) Fund 420 – Water/Sewer Equipment Cumulative Reserve Fund is hereby created.

(i) The following funds are sustained:

(i) Fund 001 – Current Expense.

(ii) Fund 101 – Streets.

(iii) Fund 102 – C.J. Forester Library Endowment.

(iv) Fund 108 – Fire Department Cumulative Reserve.

(v) Fund 109 – Emergency Medical Services Cumulative Reserve.

(vi) Fund 301 – Capital Projects Cumulative Reserve.

(vii) Fund 302 – Capital Projects Town Hall/Library.

(viii) Fund 404 – Sewer Facility Improvements.

(ix) Fund 405 – Water Deposit.

(x) Fund 631 – Claims/Payroll Clearing.

(xi) Fund 999 – Treasurer Surplus. (Ord. 525, 2009)