Chapter 3.45
FUNDS
Sections:
3.45.060 Revenue bond reserve/redemption fund No. 405.
3.45.070 Revenue bond reserve/redemption fund No. 406.
3.45.080 Capital improvement fund No. 301.
3.45.010 Operating funds.
The following funds shall be used for the accounting of financial activities of the city of Entiat:
(1) Current Expense Fund or General Fund. This fund carries the accounting records for the general operation of city government. These activities include revenues and expenditures for legislative, executive, administrative and general financial activity; land use operations, law enforcement, public health, library and park and recreation activity.
(2) City Street and Arterial Fund. This fund contains the accounting records for the revenues and expenditures and the maintenance, improvements and revenue-paid capital projects of the city’s streets.
(3) Tourism Promotion Fund. This fund monitors the revenues received from transient rental income portion of the state sales tax, and tracks the corresponding expenditures for tourism promotion and development activities, as allowed by state law.
(4) Cumulative Reserve Fund. This fund exists as a reserve for major equipment or other capital improvement needs of various operational funds, when those funds are not financially able to meet such expense when it is required. The eligible funds are current expense fund, city street and arterial fund, water department fund and sewer department fund.
(5) Water Department Fund. This fund contains the full accounting records for the operation of the city water department. A separate water capital fund exists to hold specific water department revenues (a portion of system connection fees) for the capital expansion needs of the department.
(6) Sewer Department Fund. This fund contains the full accounting records for the operation of the city sewer department. A separate sewer capital fund exists to hold specific sewer department revenues (a portion of system connection fees) for the capital expansion needs of the department.
(7) Water Capital Reserve Fund. This fund holds a portion of initial water connection fees for new accounts on the system. These funds are transferred to the water department as required for capital expansion needs only.
(8) Sewer Capital Reserve Fund. This fund holds a portion of initial sewer connection fees for new accounts on the system. These funds are transferred to the sewer department fund as required for capital expansion needs only. (Ord. 810 § 1, 2019; Ord. 635, 2005; Ord. 404 § 2, 1992)
3.45.020 Clearing fund.
(1) Claims Clearing Fund. City bills and payroll are paid by the issuance of city warrants. At time of bill or payroll expenditure, the amount is deducted from the appropriate operating fund and transferred to the claims clearing fund. Once the warrants are honored by the bank, the warrants are redeemed and deducted from the city’s bank balance. (Ord. 635, 2005; Ord. 404 § 3, 1992)
3.45.030 Special funds.
Special funds may be established to account for the following activities:
(1) Grant management;
(2) Bond accounting;
(3) Special project accounting;
(4) Limited activity funds received by the city. (Ord. 635, 2005; Ord. 404 § 4, 1992)
3.45.040 Community beautification fund.
Closed by Ord. 810. (Ord. 635, 2005; Ord. 423 § 1, 1993)
3.45.050 Library improvement fund.
Closed by Ord. 810. (Ord. 635, 2005; Ord. 423 § 2, 1993)
3.45.060 Revenue bond reserve/redemption fund No. 405.
As a condition of a loan awarded to the city by the Farm Home Administration, Rural Development Agency, for construction of replacement water mains and a reservoir, the city must establish a fund to develop reserves equal to one year of loan payments, over a 10-year period.
This fund shall become effective with the 2010 budget year on January 1, 2010, and shall be called the revenue bond reserve/redemption fund. The fund number shall be 405.
Revenues from this fund shall be by transfer from the water department fund, and shall include the revenues from water account service charges. (Ord. 697 § 1, 2009)
3.45.070 Revenue bond reserve/redemption fund No. 406.
As a condition of a loan awarded to the city by the USDA, Rural Development Agency, for construction of a water-wastewater treatment facility, the city must establish a fund to develop reserves equal to one year of loan payments, over a 10-year period.
This fund shall become effective with the 2010 budget year on January 1, 2010, and shall be called the revenue bond reserve/redemption fund. The fund number shall be 406.
Revenues from this fund shall be by transfer from the sewer department fund, and shall include the revenues from sewer account service charges. (Ord. 698 § 1, 2009)
3.45.080 Capital improvement fund No. 301.
This fund shall become effective with the 2013 budget year on January 1, 2013, and shall be called the capital improvement fund. The fund number shall be 301.
Revenues from this fund shall be from the real estate excise taxes. (Ord. 738 § 1, 2012)