Chapter 4.87
RESERVE FUND FOR EVERGREEN STATE FAIRGROUNDS CAPITAL IMPROVEMENTS

Sections:

4.87.010    Name of fund.

4.87.020    Purpose of fund.

4.87.030    Source of resources.

4.87.040    Fund manager.

4.87.050    Operating reserve.

4.87.010 Name of fund.

There is created a reserve fund known as the Evergreen State Fairgrounds capital improvements and operating reserve fund.

(Added Ord. 93-046, June 30, 1993; Amended Ord. 96-062 § 1, Sep. 18, 1996, Eff date Sep. 30, 1996).

4.87.020 Purpose of fund.

(1) The purpose of the Evergreen State Fairgrounds capital improvements and operating reserve fund is:

(a) to account for and accumulate the monies described in SCC 4.87.030(1) for expenditure on capital improvements or acquisitions located or used on the Evergreen State Fairgrounds as described in SCC 2.32.020; and

(b) to account for and accumulate the monies described in SCC 4.87.030(2) for relief of fairgrounds operating deficits as described in SCC 4.87.050 or for other fairgrounds uses determined appropriate by the county council.

(2) The department of budget and finance shall administer the monies described in subsections (1) and (2) of this section in separate accounts within the Evergreen State Fairgrounds capital improvements and operating reserve fund.

(Added Ord. 93-046, June 30, 1993; Amended Ord. 96-062 § 2, Sep. 18, 1996, Eff. date Sep. 30, 1996).

4.87.030 Source of resources.

Resources of the Evergreen State Fairgrounds capital improvements and operating reserve fund shall consist of:

(1) for the account described in SCC 4.87.020(1)(a), 10 percent of all monies received by the county from fairgrounds building, grounds, and equipment licenses and rentals other than licenses and rentals for the annual fair or for terms greater than six months and such additional amounts as may be designated by the county council; and

(2) for the account described in SCC 4.87.020(1)(b), surplus fairgrounds operating revenues determined in accordance with SCC 4.87.050.

(Added Ord. 93-046, June 30, 1993; Amended Ord. 96-062 § 4, Sep. 18, 1996, Eff date Sep. 30, 1996).

4.87.040 Fund manager.

The county executive shall designate a fund manager, whose name and title shall appear on a master list maintained in the department of budget and finance. The fund manager shall have the responsibilities set out in SCC 4.05.050.

(Added Ord. 93-046, June 30, 1993).

4.87.050 Operating reserve.

(1) At the end of each fiscal year the department of budget and finance shall determine the total operating revenues and total operating expenditures of the Evergreen State Fairgrounds for that year, and determine if there are surplus operating revenues or if there is an operating deficit.

(a) For purposes of this section, total operating revenues shall consist of (i) monies paid to the county by the state or any other governmental entity for a fairgrounds purpose; and (ii) monies paid to the county as fairgrounds building, ground, or equipment licenses or rentals, as fairgrounds service charges, as fairgrounds admissions fees, or as payment for any other fairgrounds fee or charge. Total operating revenues shall not include funds received for a purpose unrelated to the fairgrounds, funds deposited into the account described in SCC 4.87.020(1)(a), and funds paid under a fair sponsorship agreement.

(b) For purposes of this section, total operating expenditures shall consist of county expenditures for fairgrounds purposes, plus a proportional share of nondepartmental overhead charges. Total operating expenditures shall not include expenditures for capital projects, debt service, or expenditures of funds paid under a fair sponsorship agreement.

(c) The department of budget and finance shall determine the difference between the operating revenues and expenditures described in subsections (a) and (b) of this section. Any operating revenues in excess of operating expenses shall be deemed surplus operating revenues. Any operating expenditures in excess of operating revenues shall be deemed an operating deficit.

(2) If the department of budget and finance determines that surplus operating revenues exist, the department shall deposit them into the account described in SCC 4.87.020(1)(b).

(3) If the department of budget and finance determines that there is an operating deficit, the department shall promptly notify the county executive and county council. If deemed appropriate to address an operating deficit, monies in the account described in SCC 4.87.020(1)(b) may be appropriated or made subject to a budget transfer in accordance with law.

(Added Ord. 96-062 § 5, Sep. 18, 1996, Eff. date Sep. 30, 1996).