3-1 Establishment and Management of Funds

A.    General Fund

The primary operating fund for the City, with revenues derived generally from taxes and expenditures made for public safety, street maintenance, cultural activities, and administration.

B.    Water Fund

An enterprise fund with revenues primarily derived from water system fees and expenditures to operate the water system.

C.    Sewer Fund

An enterprise fund with revenues primarily derived from sewer system fees and expenditures to operate the sewer system.

D.    Refuse/Recycle Fund

An enterprise fund with revenues derived from residential customers’ fees and expenditures contract for refuse and recycling services.

E.    Utility – CI Fund

An enterprise fund with revenues primarily derived from investment fees paid by new properties for connection to water and sewer systems and expenditures for system capital expansion or replacement.

F.    Parks Fund

An enterprise fund with revenues primarily from pool, gym and Box Cañon facilities and expenditures made for operations of an improvement to those facilities.

G.    Tourism Fund

1.    A special fund with revenues derived from the Lodging Occupation Tax. All interest derived from the investment of revenues within the special fund shall also be deposited for the benefit of said fund.

2.    All expenditures of revenue derived from 86.875% of Lodging Occupation Tax revenues shall be for one or more of the following purposes: promoting tourism; advertising the community; attracting conferences, conventions, and meetings; or for other purposes related to attracting tourist and visitor business to the City.

3.    There shall be budgeted from the money received from imposition of the Lodging Occupation Tax an amount equal to 1.25% thereof to reimburse the City for administrative, enforcement, and clerical expenses incurred in the administration and collection of the tax authorized in this section.

H.    Beautification Fund

A special fund with revenues derived from 11.875% of Lodging Occupation Tax revenues and all expenditures used for the construction, installation, and other acquisition of street, water, drainage, sidewalk, lighting, signage or other public facilities for the improvement and beautification of the City.

I.    Conservation Trust Fund

A special fund with revenue distributed to it by the State’s Conservation Trust Fund and expenditures made according to C.R.S. §29-21-101 et seq.

J.    Fireman’s Pension Fund

A fiduciary fund with revenues distributed from the General Fund for pension investment to be distributed to qualified retired firemen or their beneficiaries.