Chapter 3.30
FUNDS

Sections:

3.30.010  General fund.

3.30.020  Street fund.

3.30.030  General fund petty cash established.

3.30.040  Arterial street fund established.

3.30.050  Sewer fund established.

3.30.060  Equipment rental and replacement fund established.

3.30.070  Risk management fund established.

3.30.080  Trails and paths fund.

3.30.090  Bond fund.

3.30.100  Project funds.

3.30.110  Operating reserve account.

3.30.120  Community development block grant fund.

3.30.130  Capital grants fund.

3.30.140  Barker Road Bridge reconstruction – Federal grant fund.

3.30.150  Parks capital improvement fund.

3.30.160  Service level stabilization reserve fund.

3.30.170  Winter weather reserve fund.

3.30.180  CenterPlace operating reserve fund.

3.30.190  Civic building fund.

3.30.200  Street capital projects fund B established.

3.30.210  Street bond capital projects fund established.

3.30.220  Stormwater utility fund.

3.30.010 General fund.

There is hereby established a fund to be known as the "general fund" out of which current expenses of the City of Spokane Valley shall be paid, and which will be used to account for financial transactions of the general operating functions of City departments, and to account for those transactions not properly accounted for in another fund. (Ord. 9 § 1, 2002).

3.30.020 Street fund.

There is hereby established a fund to be known as the "street fund" into which shall be paid all monies received by the City of Spokane Valley as diverted road taxes pursuant to RCW 35.02.140, and into which may be paid monies received by the City of Spokane Valley as distributions, pursuant to RCW 46.68.090(1)(i), of the motor vehicle fuel taxes imposed by the state of Washington. Monies in the fund shall be used generally by the City of Spokane Valley for planning, establishing, constructing, repairing and maintaining the City’s streets, sidewalks and appurtenances, including pedestrian and bicycle paths, lanes and routes. However, nothing herein shall prohibit the city council from appropriating such additional monies to the fund as may be deemed necessary. Accounting and reporting procedures as to all street expenditures shall comply with the current manual of instructions published by the Washington State Auditor. (Ord. 9 § 2, 2002).

3.30.030 General fund petty cash established.

The city manager or designee is hereby authorized to establish a general fund petty cash account in such amounts as the city manager may from time to time, in writing, determine necessary for the efficient handling of the purposes for which the fund is established, but not to exceed $1,000. This fund is established to facilitate minor authorized disbursements and the making of change. The fund shall be administered by the city manager, finance director or designees of the same, in accordance with rules or policies providing for such lawful administration. (Ord. 10 § 1, 2002).

3.30.040 Arterial street fund established.

There is hereby established in the City treasury a fund known and designated as the arterial street fund for the purpose of providing funds for construction and maintenance of arterial highways and City streets as authorized by RCW 46.68.070 or otherwise. (Ord. 62 § 1, 2003).

3.30.050 Sewer fund established.

There is hereby established in the City treasury a fund known and designated as the sewer fund for the purpose of providing funds for construction and maintenance of arterial highways and City streets in coordination with the Spokane County sewering project. (Ord. 62 § 2, 2003).

3.30.060 Equipment rental and replacement fund established.

There is hereby established in the City treasury a fund known and designated as the equipment rental and replacement fund for the purpose of providing funds for acquisition and maintenance of equipment to be used by City departments as authorized by Chapter 36.33A RCW and RCW 35.21.088, respectively. (Ord. 62 § 3, 2003).

3.30.070 Risk management fund established.

There is hereby established in the City treasury a fund known and designated as the risk management fund for the purpose of providing funds for the City’s risk financing activities. (Ord. 62 § 4, 2003).

3.30.080 Trails and paths fund.

There is hereby established a fund to be known as the trails and paths fund from which motor vehicle fuel tax receipts shall be used to establish and maintain paths and trails for pedestrians, equestrians or bicycles as part of streets, roads and highways. (Ord. 03-098 § 1, 2003).

3.30.090 Bond fund.

There is hereby created, and shall be maintained by the finance director, a fund known as the "City of Spokane Valley limited tax general obligation bond – Debt service fund" (the "bond fund") which shall be drawn upon for the sole purpose of paying the principal of and interest on the bonds. Money on deposit in the bond fund not immediately needed to pay such interest or principal may be temporarily deposited in such institutions or invested in any obligations which are legal investments for City funds. Any interest earnings from the investment of such money shall be deposited into the bond fund. (Ord. 03-084 § 7, 2003).

3.30.100 Project funds.

There is hereby created, and shall be maintained by the finance director, two funds, the "City of Spokane Valley Mirabeau Point capital projects fund" ("Mirabeau Point fund") and the "City of Spokane Valley street capital projects fund A" ("street fund"), (collectively called the "project funds"), into which shall be deposited the proceeds of the sale of the bonds.

Monies in the Mirabeau Point fund shall be used for the payment of part of the cost and expense of the acquisition and installation of CenterPlace. Monies in the street fund shall be used to complete the road and street projects identified in Section 2(2) of Ordinance 03-084. All interest earnings on monies invested from the project funds shall be deposited into that respective project fund. The City’s share of any liquidated damages or other monies paid by defaulting contractors or their sureties will be deposited into said project fund to assure the acquisition and completion of the project.

When the street projects have been completed and all costs related thereto, including all principal of and interest on the bonds, is paid in full, any monies remaining in the street fund may be deposited in the bond fund, created hereafter, or used for other capital projects of the City. When CenterPlace is complete, all money remaining in the Mirabeau Point fund shall be used for other lawful purposes associated with CenterPlace. (Ord. 03-084 § 8, 2003).

3.30.110 Operating reserve account.

There is hereby created and shall be maintained by the finance director a fund known as the "City of Spokane Valley CenterPlace operating reserve account" (herein called the "operating reserve account"), into which shall be deposited (from funds other than proceeds of the bonds) the sum of $100,000 in 2004. The City covenants to increase the balance of the operating reserve account to $300,000 by the end of 2009.

Monies in the operating reserve account shall be available for use in the payment of expenses associated with CenterPlace, including but not limited to operation and maintenance expenses, debt service and capital repairs. If the City makes a draw on the funds in the operating reserve account, it shall at the same time file a plan for the replenishment of the funds withdrawn. The City covenants to use all reasonable efforts to follow such a plan for replenishment. (Ord. 03-084 § 9, 2003).

3.30.120 Community development block grant fund.

There is hereby established in the City treasury a fund known and designated as the "community development block grant fund" for the purpose of accounting for revenues and expenditures related to block grant proceeds as specified by Title I of the Housing and Community Development Grant Program of 1974. (Ord. 04-015 § 1(C), 2004).

3.30.130 Capital grants fund.

There is hereby established in the City treasury a fund known and designated as the "capital grants fund" for the purpose of accounting for revenues and expenditures related to capital grant proceeds. (Ord. 04-015 § 1(D), 2004).

3.30.140 Barker Road Bridge reconstruction – Federal grant fund.

There is hereby established in the City treasury a fund known and designated as the "Barker Road Bridge reconstruction – Federal grant fund" for the purpose of accounting for revenues and expenditures related to BRAC grant proceeds. (Ord. 04-015 § 1(E), 2004).

3.30.150 Parks capital improvement fund.

Parks capital improvement fund is hereby created for the purpose of making capital improvements to parks and to purchase and/or lease land for public parks. Revenues result from a transfer from the general fund in the amount of $550,000. Appropriations are authorized in the same amount as shown in Exhibit A of Ordinance 05-018. (Ord. 05-018 § 1(F), 2005).

3.30.160 Service level stabilization reserve fund.

Service level stabilization reserve fund is hereby created with a revenue transfer from the general fund in the amount of $1,000,000. Appropriations are authorized as shown in Exhibit A of Ordinance 05-018 as needed to maintain City service levels. (Ord. 05-018 § 1(G), 2005).

3.30.170 Winter weather reserve fund.

Winter weather reserve fund is hereby created with a transfer from the general fund in the amount of $500,000. Appropriations are authorized as shown in Exhibit A of Ordinance 05-018 for costs relating to street maintenance including, but not limited to, sanding, snow plowing and de-icing. (Ord. 05-018 § 1(H), 2005).

3.30.180 CenterPlace operating reserve fund.

CenterPlace operating reserve fund is hereby created with a transfer from the general fund in the amount of $300,000. Appropriations are authorized as shown in Exhibit A of Ordinance 05-018 for unexpected operating costs associated with CenterPlace at Mirabeau Point. (Ord. 05-018 § 1(I), 2005).

3.30.190 Civic building fund.

A civic building fund is hereby created for the purposes of purchasing/leasing land, buildings and constructing capital improvements for civic purposes. Revenues for 2005 will come from a general fund transfer in the amount of $500,000. Appropriations are authorized as shown in Exhibit A of Ordinance 05-018 for capital improvements relating to civic buildings. (Ord. 05-018 § 1(J), 2005).

3.30.200 Street capital projects fund B established.

There is hereby established in the City treasury a fund known and designated as "street capital projects fund B" for the purpose of constructing, engineering, purchasing rights-of-way and paying for related capital construction costs. (Ord. 06-014 § 3, 2006).

3.30.210 Street bond capital projects fund established.

There is hereby established in the City treasury a fund known and designated as the "street bond capital projects fund" where street bond sale proceeds shall be deposited until needed for street capital projects. (Ord. 06-014 § 4, 2006).

3.30.220 Stormwater utility fund.

There is hereby established a fund that is to be known as the stormwater utility fund, into which shall be deposited monies received by the City with expenditures authorized as are properly chargeable to the fund pursuant to this chapter. Monies in the fund shall be budgeted and appropriated for purposes consistent with the storm and surface water utility including, but not limited to, the planning, designing, acquiring, constructing and maintaining of stormwater control, conveyance and treatment facilities plus reasonably related administrative expenses. (Ord. 08-008 § 12, 2008).