Chapter 3.96


3.96.010    Disposition of interest income.

3.96.010 Disposition of interest income.

RCW 35A.40.050 regulates the investment of excess and inactive funds of the treasury of the city. Available moneys may be invested on an individual-fund basis or may be commingled within one common investment portfolio for the mutual benefit of all participating funds; provided, that if such moneys are commingled in a common investment portfolio, all income derived therefrom shall be apportioned among the various participating funds in direct proportion to the amount of money invested by each. Interest shall be allocated based on each fund’s proportionate balance at the end of each month. Investment income earned from excess funds in the treasurer’s checking account shall be allocated to the current expense fund. [Ord. 1418 § 2, 2007.]