Chapter 3.45
FUNDS
Sections:
3.45.010 Operating funds.
3.45.020 Clearing fund.
3.45.030 Special funds.
3.45.040 Community beautification fund.
3.45.050 Library improvement fund.
3.45.060 Revenue bond reserve fund No. 202.
3.45.070 Revenue bond redemption fund No. 204.
3.45.010 Operating funds.
The following funds shall be used for the accounting of financial activities of the city of Entiat:
(1) Current Expense Fund or General Fund. This fund carries the accounting records for the general operation of city government. These activities include revenues and expenditures for legislative, executive, administrative and general financial activity; land use operations, law enforcement, public health, library and park and recreation activity.
(2) City Street and Arterial Fund. This fund contains the accounting records for the revenues and expenditures and the maintenance, improvements and revenue-paid capital projects of the city’s streets.
(3) Tourism Promotion Fund. This fund monitors the revenues received from transient rental income portion of the state sales tax, and tracks the corresponding expenditures for tourism promotion and development activities, as allowed by state law.
(4) Law and Justice Fund. This fund receives money from state revenue sharing and entitlements for law and justice programs. Expenditures from this fund must be for law and justice programs other than the city’s regular law enforcement operations costs.
(5) Cumulative Reserve Fund. This fund exists as a reserve for major equipment or other capital improvement needs of various operational funds, when those funds are not financially able to meet such expense when it is required. The eligible funds are current expense fund, city street and arterial fund, water department fund and sewer department fund.
(6) Water Department Fund. This fund contains the full accounting records for the operation of the city water department. A separate water capital fund exists to hold specific water department revenues (a portion of system connection fees) for the capital expansion needs of the department.
(7) Sewer Department Fund. This fund contains the full accounting records for the operation of the city sewer department. A separate sewer capital fund exists to hold specific sewer department revenues (a portion of system connection fees) for the capital expansion needs of the department.
(8) Water Capital Reserve Fund. This fund holds a portion of initial water connection fees for new accounts on the system. These funds are transferred to the water department as required for capital expansion needs only.
(9) Sewer Capital Reserve Fund. This fund holds a portion of initial sewer connection fees for new accounts on the system. These funds are transferred to the sewer department fund as required for capital expansion needs only. (Ord. 635, 2005; Ord. 404 § 2, 1992)
3.45.020 Clearing fund.
(1) Claims Clearing Fund. City bills and payroll are paid by the issuance of city warrants. At time of bill or payroll expenditure, the amount is deducted from the appropriate operating fund and transferred to the claims clearing fund. Once the warrants are honored by the bank, the warrants are redeemed and deducted from the city’s bank balance. (Ord. 635, 2005; Ord. 404 § 3, 1992)
3.45.030 Special funds.
Special funds may be established to account for the following activities:
(1) Grant management;
(2) Bond accounting;
(3) Special project accounting;
(4) Limited activity funds received by the city. (Ord. 635, 2005; Ord. 404 § 4, 1992)
3.45.040 Community beautification fund.
To address community interest in beautification projects in Entiat, to provide a holding fund for city revenues restricted for community beautification projects, and to provide for proper accounting of beautification projects, the community beautification fund is hereby established. The number of this fund shall be No. 116, in compliance with Washington State Auditor’s requirements, under the Budget, Accounting and Reporting System (BARS), as adopted by the Office of the State Auditor. (Ord. 635, 2005; Ord. 423 § 1, 1993)
3.45.050 Library improvement fund.
To provide a restricted use fund for city revenues dedicated for local library needs, and to provide for proper accounting of expenditures of such funds for library needs, the library improvement fund is hereby established. The number of this fund shall be No. 117, in compliance with Washington State Auditor’s requirements, under the Budget, Accounting and Reporting System (BARS), as adopted by the Office of the State Auditor. (Ord. 635, 2005; Ord. 423 § 2, 1993)
3.45.060 Revenue bond reserve fund No. 202.
As a condition of a loan awarded to the city by the Farm Home Administration, Rural Development Agency, for construction of replacement water mains and a reservoir, the city must establish a fund to develop reserves equal to one year of loan payments, over a 10-year period. This fund shall become effective with the 1994 budget year on January 1, 1994, and shall be called the revenue bond reserve fund. The fund number shall be No. 202.
Revenues to this fund shall be by transfer from the water department fund. The water department fund, in turn, shall acquire the revenues to be transferred from water account service charges. (Ord. 635, 2005; Ord. 437 § 1, 1993)
3.45.070 Revenue bond redemption fund No. 204.
As a condition of a loan awarded to the city by the Farm Home Administration, Rural Development Agency, for construction of replacement water mains and a reservoir, the city must establish a fund to set aside the monies required to meet the semi-annual obligations for payment of this loan, during its 40-year term. This fund shall become effective with the 1994 budget year on January 1, 1994, and shall be called the revenue bond redemption fund. The fund number shall be No. 204.
Revenues to this fund shall be by transfer from the water department fund. The water department fund, in turn, shall acquire the revenues necessary for this fund from water account service charges. (Ord. 635, 2005; Ord. 437 § 2, 1993)