Chapter 3.28 FUNDS

A. Capital Projects. This department will be funded by a budgeted transfer from the refuse fund No. 430, issuance of bonds, loans, grants or other revenue sources and will be used to finance capital projects for the refuse system.

B. Major Repairs. Revenues for this department will come from a budgeted transfer from the refuse fund No. 430 or other revenue sources and will be used to finance major repairs to the town’s refuse system.

C. Studies. Revenues for this department will come from a budgeted transfer from the refuse fund No. 430, grants, loans or other revenue sources and will be used to fund studies beneficial to the refuse system. (Ord. 1449 § 3, 2010)

3.28.050 Interest earned from investments.

All interest earned on investments of this fund will be apportioned between each department based on each department’s share of such investments. The interest will be further apportioned to each purpose under each department. (Ord. 1449 § 4, 2010)

Article III. Payroll Clearing Fund

3.28.070 Purpose.

The payroll clearing fund shall be used and payments therefrom shall be made only for the purpose of paying and compensating employees of the town for services rendered, and paying employee deductions to those persons, agencies and organizations entitled to such payments. (Ord. 536 § 1, 1981)

3.28.080 Created.

There is created a fund, known and designated as the payroll clearing fund, into which shall be paid and transferred from the various departments an amount of money equal to the various salaries and wages and other compensations due town employees. (Ord. 536 § 2, 1981)

3.28.090 Transfer of funds.

Whenever it is deemed necessary, the town treasurer is authorized, empowered and directed to transfer from the funds of the various departments to the payroll clearing fund sufficient moneys to pay the salaries, wages and other compensations of the employees of the various departments of the town. (Ord. 536 § 3, 1981)

3.28.100 Issuance of warrants.

As allowed by the State Auditor’s Office, in Bulletin No. 212, dated February 28, 1961, the town clerk is authorized, empowered and directed to issue warrants on and against the fund for payments authorized by FHMC 3.28.070. The warrants shall be issued only after there has been filed with the town clerk proper payrolls, due bills, or time certificates approved by the town council stating the nature of the services rendered, the amount due or owing and the person entitled thereto. All warrants issued on or against the fund shall be solely and for the purposes set forth in this article and shall be payable only out of and from the fund. Each warrant issued under the provisions of this section shall have printed on its face the words, “Payroll Clearing Fund.” (Ord. 536 § 4, 1981)

3.28.110 When operating fund becomes insolvent (compliance with RCW 39.56.030).

In the event that an operating fund becomes insolvent, interest bearing warrants will be issued to the clearing fund (or funds) involved in place of a transfer, and will be deposited along with other town cash receipts. (Ord. 536 § 5, 1981)

3.28.120 Interest earned from investment.

Interest earned by the investment of this fund shall be credited to the current fund. (Ord. 536 § 6, 1981)

Article IV. Claims Clearing Fund

3.28.130 Purpose.

The claims clearing fund shall be used and payments therefrom shall be made only for the purpose of paying any claims against the town. (Ord. 537 § 1, 1981)

3.28.140 Created.

There is created a fund, known and designated as the claims clearing fund, into which shall be paid and transferred from the various departments an amount of money equal to the claims against the town for any purpose. (Ord. 537 § 2, 1981)

3.28.150 Transfer of funds.

Whenever it is deemed necessary, the town treasurer is authorized, empowered and directed to transfer from the funds of the various departments to the claims clearing fund sufficient moneys to pay the claims against the various departments of the town. (Ord. 537 § 3, 1981)

3.28.160 Issuance of transfers.

A. As allowed by the State Auditor’s Office, in Bulletin No. 212, dated February 28, 1961, the town clerk is authorized, empowered and directed to issue warrants on and against the fund in payment of materials furnished, services rendered or expense or liability incurred by the various departments and offices of the town.

B. The warrant shall be issued only after there has been filed with the town clerk proper vouchers, approved by the town council, stating the nature of the claim, the amount due or owing and the person, firm or corporation entitled thereto.

C. All warrants issued on or against the fund shall be solely and only for the purposes set forth in this article and shall be payable only out of and from the fund.

D. Each warrant issued under the provisions of this section shall have on its face the words “claims clearing fund.” (Ord. 537 § 4, 1981)

3.28.170 When operating fund becomes insolvent (compliance with RCW 39.56.030).

In the event that an operating fund becomes insolvent, interest bearing warrants will be issued to the clearing fund, or funds, involved in place of a transfer, and will be deposited along with other town cash receipts. (Ord. 537 § 5, 1981)

3.28.180 Interest earned from investment.

Interest earned from investments of these funds shall be credited to the current fund. (Ord. 537 § 6, 1981)

Article V. Unemployment Compensation Reserve Fund

3.28.190 Purpose.

Repealed by Ord. 1790. (Ord. 564 § 1, 1982)

3.28.200 Established.

Repealed by Ord. 1790. (Ord. 564 § 2, 1982)

3.28.210 Revenues.

Repealed by Ord. 1790. (Ord. 564 § 3, 1982)

3.28.220 Expenses.

Repealed by Ord. 1790. (Ord. 564 § 4, 1982)

3.28.230 Interest earned from investment.

Repealed by Ord. 1790. (Ord. 564 § 5, 1982)

Article VI. Current Capital Reserve Fund No. 002

3.28.235 Purpose.

The purpose of this article is to establish a capital reserve for future governmental expenditures. (Ord. 1446 § 1, 2011)

3.28.240 Established.

There is hereby established a fund to be known as the current capital reserve fund No. 002. (Ord. 1446 § 2, 2011)

3.28.245 Divisions designated.

This fund will be divided into different departments, including but not limited to the following:

A. Capital Projects. This department will be funded by a budgeted transfer from the current expense fund No. 001, issuance of bonds, loans, grants or other revenue sources and expenditures will be for financing future capital projects for the current fund.

B. Major Repairs. Revenues for this department will come from a budgeted transfer from the current expense fund No. 001 or other revenue sources and will be used to finance major repairs to current fund assets.

C. Land Acquisition. Revenues for this department will come from a budgeted transfer from the current expense fund No. 001, the sale of current fund real property or other revenue sources and will be used to purchase land benefiting the current fund.

D. Studies. Revenues for this department will come from a budgeted transfer from the current expense fund No. 001, grants, loans or other revenue sources and will be used to fund future studies beneficial to the current fund.

E. Rainy Day. Revenues will come from a budgeted transfer from the current expense fund No. 001 or other revenue sources and will be used for expenditures deemed emergency in nature by the town council.

F. Intermodal Transportation Facility. Revenues will come from a budgeted transfer from the current expense fund No. 001 or other revenue sources and will be used to finance the town’s future intermodal transportation plan and implement its recommendations. (Ord. 1446 § 3, 2011)

3.28.250 Interest earned on investments.

Article VII. Advance Travel Expense Fund

3.28.290 Created.

There is created a special revolving fund to be known as the advance travel expense fund. The money in the fund shall be used only for the purpose of making allowances to an elected or appointed official or employee of the town in advance of expenditures incurred by such official or employee for travel expenses for town purposes authorized in advance by the mayor or town administrator. (Ord. 568 § 1, 1982)

3.28.300 Deposit – Advances by check from bank – Replenishment by warrant.

A. The town council provides for the deposit of $500.00 in the advance travel expense fund and may otherwise transfer and appropriate money to such fund from any legally available source from time to time as the town council deems necessary.

B. The fund shall be maintained in a bank, to be determined from time to time by the town treasurer, as a checking account and advances to officials and employees shall be by check drawn by the town treasurer against that checking account. The checking account shall be replenished by warrant. (Ord. 568 § 2, 1982)

Article VIII. Equipment Reserve Fund No. 525

3.28.310 Purpose.

Repealed by Ord. 1706. (Ord. 1451 § 1, 2010)

3.28.315 Established.

Repealed by Ord. 1706. (Ord. 1451 § 2, 2010)

3.28.320 Funds – Source.

Repealed by Ord. 1706. (Ord. 1451 § 3, 2010)

3.28.330 Funds – Transfers.

Repealed by Ord. 1706. (Ord. 1451 § 4, 2010)

3.28.340 Expenditures.

Repealed by Ord. 1706. (Ord. 1451 § 5, 2010)

3.28.350 Interest earned on investments.

Repealed by Ord. 1706. (Ord. 1451 § 6, 2010)

Article IX. 1984 Sewer Bond Redemption Fund No. 423

3.28.360 Purpose.

Repealed by Ord. 1133. (Ord. 626 § 1, 1984)

3.28.370 Established.

Repealed by Ord. 1133. (Ord. 626 § 2, 1984)

3.28.380 Revenues.

Repealed by Ord. 1133. (Ord. 626 § 3, 1984)

3.28.390 Expenses.

Repealed by Ord. 1133. (Ord. 626 § 4, 1984)

3.28.395 Interest earned from investment.

Repealed by Ord. 1133. (Ord. 626 § 5, 1984)

Article X. (Reserved)

Article XI. Fire Station Construction Fund

3.28.450 Purpose.

Repealed by Ord. 1133. (Ord. 599 § 1, 1984)

3.28.460 Established.

Repealed by Ord. 1133. (Ord. 599 § 2, 1984)

3.28.470 Revenues.

Repealed by Ord. 1133. (Ord. 599 § 3, 1984)

3.28.480 Expenses.

Repealed by Ord. 1133. (Ord. 599 § 4, 1984)

3.28.490 Interest earned from investment.

Repealed by Ord. 1133. (Ord. 599 § 5, 1984)

Article XII. Fire Hall and Solid Waste Incinerator Construction Fund

3.28.500 Created.

Repealed by Ord. 1133. (Ord. 594 § 12, 1984)

Article XIII. 1984 Sewer System Improvement Construction Fund

3.28.510 Created.

Repealed by Ord. 1133. (Ord. 593 § 10, 1984)

Article XIV. Bond Issuance Funds

3.28.520 1984 fire/refuse general obligation redemption fund No. 201 – Purpose.

Repealed by Ord. 1790. (Ord. 596 § 1, 1984)

3.28.530 1984 fire/refuse general obligation redemption fund No. 201 – Established.

Repealed by Ord. 1790. (Ord. 596 § 2, 1984)

3.28.540 1984 fire/refuse general obligation redemption fund No. 201 – Revenues.

Repealed by Ord. 1790. (Ord. 596 § 3, 1984)

3.28.550 1984 fire/refuse general obligation redemption fund No. 201 – Expenses.

Repealed by Ord. 1790. (Ord. 596 § 4, 1984)

3.28.560 1984 fire/refuse general obligation redemption fund No. 201 – Interest earned from investment.

Repealed by Ord. 1790. (Ord. 596 § 5, 1984)

3.28.570 1984 fire/refuse general obligation redemption fund No. 201 – Transfer of fund.

Repealed by Ord. 1790. (Ord. 596 § 6, 1984)

3.28.580 Water revenue bond fund.

Repealed by Ord. 1133. (Ord. 325 § 7, 1962)

3.28.590 Federal shared revenue fund – Created.

Repealed by Ord. 1133. (Ord. 392 § 1, 1973)

3.28.600 Federal shared revenue fund – Deposits – Interest.

Repealed by Ord. 1133. (Ord. 392 § 2, 1973)

3.28.610 Federal shared revenue fund – Moneys expended – Transferred.

Repealed by Ord. 1133. (Ord. 392 § 3, 1973)

3.28.620 Federal shared revenue fund – Moneys expended – Prohibited expenditures.

Repealed by Ord. 1133. (Ord. 392 § 4, 1973)

3.28.630 Federal shared revenue fund – Moneys expended – Priority expenditures.

Repealed by Ord. 1133. (Ord. 392 § 5, 1973)

3.28.640 Federal shared revenue fund – Moneys received – Time period expenditure.

Repealed by Ord. 1133. (Ord. 392 § 6, 1973)

3.28.650 Federal shared revenue fund – Repayment by town of funds not used designated.

Repealed by Ord. 1133. (Ord. 392 § 7, 1973)

3.28.660 Federal shared revenue fund – Town official duties.

Repealed by Ord. 1133. (Ord. 392 § 8, 1973)

3.28.670 Federal shared revenue fund – When Davis-Bacon Act applicable.

Repealed by Ord. 1133. (Ord. 392 § 9, 1973)

3.28.680 Federal shared revenue fund – Salaries paid from fund.

Repealed by Ord. 1133. (Ord. 392 § 10, 1973)

3.28.690 Federal shared revenue fund – Filing with United States Treasury.

Repealed by Ord. 1133. (Ord. 392 § 11, 1973)

3.28.700 Sewer revenue fund.

The gross revenue of the sewer system shall be set aside into a separate fund designated as the “sewer revenue fund,” and moneys so deposited therein shall be expended and used only for sewer system purposes. Such gross revenues available after payment of the costs of maintenance and operation of the system, which have been pledged to pay and secure the town’s sewer system revenue obligations issued prior to September 1, 2018, shall continue to be deposited and applied in accordance with the ordinances authorizing their issuance until their maturity or earlier redemption.

For the purpose of paying and securing the revenue obligations of the sewer system issued on or after September 1, 2018, there is created and established in the office of the town treasurer a special fund to be called the “sewer bond redemption fund,” which fund shall be drawn upon for the sole purpose of paying the principal of and interest on the bonds, notes and other debt obligations of the sewer system of the town issued on or after September 1, 2018, and those issued in the future on a parity therewith. (Ord. 1688 § 20, 2020; Ord. 370 § 11, 1969; Ord. 364 § 11, 1969)

3.28.710 Water revenue bond fund.

There is created and established in the office of the town treasurer a special fund to be called “water revenue bond fund,” which fund shall be drawn upon for the sole purpose of paying the principal of and interest on the bonds, notes and other debt obligations of the water utility of the town issued in 2018, and those issued in the future on a parity therewith. (Ord. 1641 § 20, 2018; Ord. 509 § 9, 1980)

3.28.720 1984 sewer revenue bond anticipation note fund.

Repealed by Ord. 1133. (Ord. 593 § 6, 1984)

3.28.730 Limited tax levy general obligation bond redemption fund, 1984.

Repealed by Ord. 1133. (Ord. 594 § 5, 1984)

Article XV. Public Works Reserve Fund No. 550

3.28.732 Purpose.

Repealed by Ord. 1706. (Ord. 1450 § 1, 2010)

3.28.734 Established.

Repealed by Ord. 1706. (Ord. 1450 § 2, 2010)

3.28.736 Funds – Source.

Repealed by Ord. 1706. (Ord. 1450 § 3, 2010)

3.28.738 Expenditures.

Repealed by Ord. 1706. (Ord. 1450 § 4, 2010)

Article XVI. Sewer Capital Reserve Fund No. 425

3.28.746 Purpose.

The purpose of this article is to establish a capital reserve for future sewer fund expenditures. (Ord. 1448 § 1, 2010)

3.28.748 Established.

There is hereby established a fund to be known as the sewer capital reserve fund No. 425. (Ord. 1448 § 2, 2010)

3.28.750 Divisions designated.

This fund will be divided into different departments, including but not limited to the following:

A. Capital Projects. This department will be funded by a budgeted transfer from the sewer fund No. 420, sewer connection fees, issuance of bonds, loans, grants or other revenue sources and will be use to finance capital projects for the sewer system.

B. Major Repairs. Revenues for this department will come from a budgeted transfer from the sewer fund No. 420 or other revenue sources and will be used to finance major repairs to the town’s sewer system.

C. Land Acquisition. Revenues for this department will come from a budgeted transfer from the sewer fund No. 420, the sale of sewer fund real property or other revenue sources and will be used to purchase land benefiting the sewer system.

D. Studies. Revenues for this department will come from a budgeted transfer from the sewer fund No. 420, grants, loans, or other revenue sources and will be used to fund studies beneficial to the sewer system. (Ord. 1448 § 3, 2010)

3.28.752 Interest earned on investments.

Article XVII. Treasurer’s Trust Fund No. 633

3.28.755 Street improvements.

Repealed by Ord. 1790. (Ord. 892 § 3, 1992)

3.28.756 Main extension deposits.

Repealed by Ord. 1790. (Ord. 892 § 4, 1992)

3.28.757 Tree fund.

Repealed by Ord. 1790. (Ord. 892 § 5, 1992)

3.28.758 Bench trust.

Repealed by Ord. 1790. (Ord. 892 § 6, 1992)

3.28.759 Park improvements.

Repealed by Ord. 1790. (Ord. 892 § 7, 1992)

3.28.760 Deposits not limited – Separate accounting.

Repealed by Ord. 1790. (Ord. 892 §§ 8, 9, 1992)

Article XVIII. Argyle Avenue Loan Redemption Fund No. 202

3.28.764 Established.

Repealed by Ord. 1790. (Ord. 699 § 1, 1986)

3.28.766 Source.

Repealed by Ord. 1790. (Ord. 699 § 2, 1986)

3.28.768 Percentage contributions.

Repealed by Ord. 1790. (Ord. 699 § 3, 1986)

3.28.770 Use of interest earnings.

Repealed by Ord. 1790. (Ord. 699 § 4, 1986)

Article XIX. Water Fund

3.28.772 Established.

A. The purpose of this section is to create new departments within the town’s water fund.

B. Water Operating Department. This department accounts for the day to day operation of the town’s water system. Revenue will come from a percentage of the water base charge, a percentage of the water use charge, reconnection fees and labor and material charges.

C. Water Improvement Department. This department will account for the repairs and betterments of the town’s water system. Revenue will come from a percentage of the water base charge, a percentage of the water use charge and water service connection charges.

D. Water System Expansion Department. This department will account for all expansion and additions to the town’s water system. Revenue will come from a percentage of the water base charge and a percentage of the water use charge.

E. All investment interest earned will be credited to each department apportionally. (Ord. 616 §§ 4 – 11, 1984)

Article XX. Water Capital Reserve Fund No. 415

3.28.775 Purpose.

The purpose of this article is to establish a capital reserve for future water fund expenditures. (Ord. 1447 § 1, 2010)

3.28.778 Established.

There is hereby established a fund to be known as the water capital reserve fund No. 415. (Ord. 1447 § 2, 2010)

3.28.780 Divisions designated.

This fund will be divided into different departments, including but not limited to the following:

A. Capital Projects. This department will be funded by a budgeted transfer from the water fund No. 410, water connection fees, issuance of bonds, loans, grants or other revenue sources and will be used to finance capital projects for the water system.

B. Major Repairs. Revenues for this department will come from a budgeted transfer from the water fund No. 410 or other revenue sources and will be used to finance major repairs to the town’s water system.

C. Land Acquisition. Revenues for this department will come from a budgeted transfer from the water fund No. 410, the sale of water fund real property or other revenue sources and will be used to purchase land benefitting the water system.

D. Studies. Revenues for this department will come from a budgeted transfer from the water fund No. 410, grants, loans or other revenue sources and will be used to fund studies beneficial to the water system. (Ord. 1447 § 3, 2010)

3.28.785 Interest earned on investments.

Article XXI. Fiscal Agency Fund No. 635

3.28.790 Purpose.

The purpose of this section is to establish an agency fund to account for those assets held in trust by the town or of other governmental entities or individuals. (Ord. 893 § 1, 1992)

3.28.800 Established.

There is established a fund to be known as the fiscal agency fund No. 635. (Ord. 893 § 2, 1992)

3.28.810 Fund used for assets held in trust.

This fund will be used to collect, account for, and disperse assets held in trust by the town. (Ord. 893 § 3, 1992)

Article XXII. Deferred Compensation
Fund No. 637

3.28.820 Purpose.

Repealed by Ord. 1790. (Ord. 894 § 1, 1992)

3.28.830 Established.

Repealed by Ord. 1790. (Ord. 894 § 2, 1992)

3.28.840 Fund used for accounting.

Repealed by Ord. 1790. (Ord. 894 § 3, 1992)

Article XXIII. Landfill Closure Fund

3.28.850 Purpose.

The purpose of this article is to established a landfill closure fund in accordance with WAC 173-304-467 and 173-351-600. (Ord. 951 § 1, 1994)

3.28.860 Established.

There is hereby established a fund to be known as the landfill closure fund No. 130. (Ord. 951 § 2, 1994)

3.28.870 Deposit of funds.

All moneys received for the purpose of landfill closure will be deposited to this fund. (Ord. 951 § 3, 1994)

3.28.880 Expenditures.

All expenditures made for the purpose of landfill closure will be expended from this fund. (Ord. 951 § 4, 1994)

3.28.890 Funds accumulation.

Funds will continue to be accumulated over the life of the facility to finance all post-closure costs. (Ord. 951 § 5, 1994)

3.28.900 Investment interest.

All interest earned on investments of moneys from the landfill closure fund will be credited to the landfill closure fund. (Ord. 951 § 6, 1994)

Article XXIV. Special Reserve Fund No. 125

3.28.910 Purpose.

The purpose of this article is to establish a special revenue fund to account for specific revenues and their expenditures. (Ord. 1458 § 1, 2011)

3.28.920 Established.

There is hereby established a fund to be known as the special reserve fund No. 125. (Ord. 1458 § 2, 2011)

3.28.930 Divisions designated.

This fund will be divided into different departments, including but not limited to the following:

A. Real Estate Excise Tax. This department will be funded by the first one-quarter percent real estate excise tax and second one-quarter percent real estate excise tax imposed on the selling price on each sale of real property within the corporate limits of town. These funds can only be used to finance those capital projects outlined in the town of Friday Harbor’s comprehensive plan.*

B. Parking. Revenues for this department will come from donations including those developers that contribute funds “in lieu of parking.” These funds will be used to construct parking areas in the town.

C. Harbor Improvements. Revenues for this department will come from state distribution of harbor lease monies and will be used to finance water front related improvements.

D. Hotel/Motel Tax. Revenues for this department will come from the collection of the two percent hotel/motel tax and the additional two percent hotel/motel tax levied by the town. These funds will be spent for paying for tourism promotion and for the acquisition and/or operation of tourism-related facilities. (Ord. 1458 § 3, 2011)

* Code reviser’s note: Section 5 of Ord. 1502 provides, “All funds in the special revenue fund No. 125 that have been generated by real estate excise tax shall be transferred into the capital projects fund No. 315 by December 31, 2012.”

3.28.940 Interest earned on investments.

3.28.950 Transfer.

All funds in the capital cumulative reserve fund No. 150 that has been generated by real estate excise tax, parking donations, harbor leases and the hotel/motel tax will be transferred to the special revenue reserve fund No. 125 and credited to the corresponding department by December 31, 2010. (Ord. 1458 § 5, 2011)

Article XXV. Storm Water Capital Reserve Fund No. 455

3.28.960 Purpose.

The purpose of this article is to establish a capital reserve for future storm water fund expenditures. (Ord. 1459 § 1, 2011)

3.28.970 Established.

There is hereby established a fund to be known as the storm water capital reserve fund No. 455. (Ord. 1459 § 2, 2011)

3.28.980 Divisions designated.

This fund will be divided into different departments, including but not limited to the following:

A. Capital Projects. This department will be funded by a budgeted transfer from the storm water fund No. 450, issuance of bonds, loans, grants or other revenue sources and will be used to finance capital projects for the stormwater utility.

B. Studies. Revenues for this department will come from a budgeted transfer from the storm water fund No. 450, system connection fees, grants, loans or other revenue sources and will be used to fund studies beneficial to the storm water fund. (Ord. 1459 § 3, 2011)

3.28.990 Interest earned on investments.

3.28.1000 Transfer.

All funds in the capital cumulative reserve fund No. 150 belonging to the storm water fund will be transferred to the storm water capital reserve fund No. 455 by December 31, 2010. (Ord. 1459 § 5, 2011)

Article XXVI. Street Capital Reserve Fund No. 445

3.28.1010 Purpose.

The purpose of this article is to establish a capital reserve for future street fund expenditures. (Ord. 1460 § 1, 2011)

3.28.1020 Established.

There is hereby established a fund to be known as the street capital reserve fund No. 445. (Ord. 1460 § 2, 2011)

3.28.1030 Divisions designated.

This fund will be divided into different departments, including but not limited to the following:

A. Capital Projects. This department will be funded by a budgeted transfer from the street fund No. 440, issuance of bonds, loans, grants or other revenue sources and will be used to finance capital projects for the street fund.

B. Studies. Revenues for this department will come from a budgeted transfer from the street fund No. 440, grants, loans or other revenue sources and will be used to fund studies beneficial to the street fund. (Ord. 1460 § 3, 2011)

3.28.1040 Interest earned on investments.

3.28.1050 Transfer.

All funds in the capital cumulative reserve fund No. 150 belonging to the street fund will be transferred to the street capital reserve fund No. 445 by December 31, 2010. (Ord. 1460 § 5, 2011)

Article XXVII. Capital Projects Fund No. 315

3.28.1060 Purpose.

The purpose of this article is to establish a capital projects fund to account for real estate excise tax revenues and expenditures. (Ord. 1502 § 1, 2012)

3.28.1070 Established.

There is hereby established a fund to be known as the capital projects fund No. 315. (Ord. 1502 § 2, 2012)

3.28.1080 Accounting.

The first one-quarter percent real estate excise tax and the second one-quarter percent real estate excise tax shall be accounted for separately in the capital projects fund. (Ord. 1502 § 3, 2012)

3.28.1090 Interest earned on investments.

All interest earned on investments of this fund will be apportioned between each one-quarter percent real estate excise tax. (Ord. 1502 § 4, 2012)

3.28.1100 Transfer.

All funds in the special revenue fund No. 125 that have been generated by real estate excise tax shall be transferred into the capital projects fund No. 315 by December 31, 2012. (Ord. 1502 § 5, 2012)

Article XXVIII. Transportation Benefit District Fund No. 650

3.28.1110 Purpose.

The purpose of this article is to establish a special revenue fund to account for specific revenues and expenditures of the Friday Harbor transportation benefit district. (Ord. 1553 § 1, 2014)

3.28.1120 Established.

There is hereby established a fund to be known as the transportation benefit district fund No. 650. (Ord. 1553 § 2, 2014)

3.28.1130 Divisions.

This fund shall be divided into departments as needed. (Ord. 1553 § 3, 2014)

3.28.1140 Interest earned on investments.

Any interest earned on investments of this fund will be apportioned between each department based on each department’s share of such investments. The interest will be further apportioned to each purpose under each department. (Ord. 1553 § 4, 2014)