Chapter 4.64
CAPITAL PURCHASES AND EXTRAORDINARY CAPITAL PROJECTS FUND

Sections:

4.64.010    Name of fund.

4.64.020    Purpose of fund.

4.64.030    Source of resources.

4.64.040    Operation of fund.

4.64.050    Fund manager.

4.64.010 Name of fund.

There is created a capital projects fund to be known as the capital purchases and extraordinary capital projects fund.

(Added by Amended Ord. 10-109, Nov. 22, 2010, Eff date Jan. 1, 2011)

4.64.020 Purpose of fund.

The purpose of the capital purchases and extraordinary capital projects fund is to provide an ongoing resource and fund for:

(1) the purchase and replacement of fixed assets related to general governmental operations; and

(2) extraordinary capital outlays, including the acquisition or construction of capital facilities and other capital assets.

(Added by Amended Ord. 10-109, Nov. 22, 2010, Eff date Jan. 1, 2011)

4.64.030 Source of resources.

The resources of the capital purchases and extraordinary capital projects fund shall consist of:

(1) amounts allocated by the county council from the amounts, if any, that the actual revenues less actual expenditures in the general fund for any calendar year exceeded the projected revenues less projected expenditures estimated in the annual or biennial budget for that year; and

(2) other resources determined appropriate by the county council.

(Added by Amended Ord. 10-109, Nov. 22, 2010, Eff date Jan. 1, 2011)

4.64.040 Operation of fund.

(1) Each year within 30 days after the filing of the annual financial report for the preceding year with the state auditor pursuant to RCW 43.09.230 the county executive shall submit a written report to council that states:

(a) The amount that general fund revenues for the preceding year were projected to exceed general fund expenditures in the annual or biennial budget as originally adopted for that year;

(b) The amount that general fund revenues for the preceding year actually exceeded general fund expenditures for that year; and

(c) If the amount calculated under (b) of this subsection exceeds the amount calculated under (a) of this subsection, the amount that represents one-half of the difference along with any comments.

(2) Following receipt of the report required by this section the county council shall consider transferring resources from the general fund to the fund created by this chapter and to the public works assistance fund created by SCC 4.117.010.

(3) The financial resources in the capital purchases and extraordinary capital projects fund may accumulate from year to year until such time as the council appropriates all or part of the resources of the fund for a purpose described in SCC 4.64.020.

(Added by Amended Ord. 10-109, Nov. 22, 2010, Eff date Jan. 1, 2011)

4.64.050 Fund manager.

The director of the department of finance or the director’s designee shall administer the capital purchases and extraordinary capital projects fund within the financial management system provided for in Chapter 2.100 SCC and shall serve as fund manager. The fund manager shall have the duties set forth in SCC 4.05.050.

(Added by Amended Ord. 10-109, Nov. 22, 2010, Eff date Jan. 1, 2011)