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title_3:3.04_general_fund [2011/08/31 22:02]
dustin created
title_3:3.04_general_fund [2011/12/07 17:58]
dustin Res 711
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-====== Chapter 3.04 - GENERAL FUND ======+====== Chapter 3.04 - Maintenance Fund ======
  
  
-==== 3.04.010 Establishment==== +==== 3.04.010 Establishment ==== 
-The county treasurer of Whatcom County, Washington, is requested and instructed to establish ​special ​fund or account for receiving moneys ​from revenues ​of the sewer utility ​and from revenues of the water utility. +The District Treasurer shall maintain ​a fund designated as a Maintenance Fund which shall be paid all money received by the Treasurer ​from the collection ​of taxes levied for the payment of general obligation bonds of the district ​and all revenues of the district other than assessments levied in local improvement districts or utility ​local improvement districts pursuant to District Code section 3.04.030. The purpose of the Maintenance Fund is to present the District’s financial status and account for changes in that status over time. The Maintenance Fund may includes the following subordinate funds: a "Water and Sewer Revenue Bond Redemption Fund" ​(District Code 3.04.020)a "Debt Service Fund" (District Code 3.04.030), a "​Construction Fund" (District Code 3.04.050) and, a "Petty Cash Fund"​(District Code 3.04.050). The Treasurer may establish such additional subordinate funds and accounts within the Maintenance Fund that enable the District to meet the objectives of the Maintenance Fund, satisfy District financial policies, and comply with all applicable contractual and statutory obligations of the District. 
-(Res403 §11984) +(Res. {{:​711.pdf|711}} §1 2011: Res. {{:​403.pdf|403}} §1, 1984)
-==== 3.04.020 Deposit====+
  
-The Whatcom County treasurer is requested ​and instructed to hereafter deposit into the special account or fund all moneys which were previously deposited in separate bank accounts for the sewer maintenance fund and the maintenance fund of the district+==== 3.04.020 Water and Sewer Revenue Bond Redemption Fund ==== 
-(Res. 403 §2, 1984) +The Water and Sewer Revenue Bond Redemption Fund is a subordinate ​fund within ​the Maintenance Fund meeting ​the requirements ​of the District'​s revenue refunding bonds, as stated in Resolution No. 668 and the District'​s revenue bonds stated in Resolution No. 583. U.L.I.D. assessments collected pursuant to Resolution No. 668 and Resolution No. 583 shall be placed in the Water and Sewer Revenue Bond Redemption Fund
-==== 3.04.030 Recordkeeping. ====+(Res. {{:​711.pdf|711}} §1 2011: Res. {{:403.pdf|403}} §2, 1984)
  
-The district'​s employees shall keep accurate ​and complete records ​of the deposits to and the expenditures ​from the special account/​fund made by each utility. The revenues ​and expenses ​of the water utility ​shall be kept on one set of records identified ​as the records ​of the maintenance fund, and the sewer utility income ​and +==== 3.04.030 Debt Service Fund ==== 
-expenses ​shall be kept on separate ​and distinct records identified as the records ​of the sewer maintenance fund+The Debt Service Fund is a subordinate fund within the Maintenance Fund used for payment of interest ​and principal on indebtedness ​of the District other than for revenue bonds or revenue refunding bonds. 
-(Res. 403 §3, 1984)+(Res. {{:​711.pdf|711}} §1 2011: Res. {{:​403.pdf|403}} §3, 1984) 
 + 
 +==== 3.04.040 Construction Fund ==== 
 +The Construction Fund is a subordinate fund within ​the Maintenance Fund used for payment of expenditures ​for construction or acquisition of fixed assets of the District ​and not including acquisition ​of donated assets. Fixed assets ​shall mean items that will be used for an extended period ​of time such as but not limited to, buildings, equipment, computers, fixtures, and machinery.  
 +(Res. {{:​711.pdf|711}} §1 2011) 
 + 
 +==== 3.04.050 Petty Cash Fund ==== 
 +The Petty Cash Fund is a subordinate fund within the Maintenance Fund in the sum of up to a maximum amount of eight hundred dollars and is authorized for the purpose of allowing certain funds to be used by the District for necessary ​and various small purchases for lawful District purposes. Reimbursements to this fund shall be made on a semi-monthly basis by voucher which will have receipts for the expenditures attached to it.  
 +(Res. {{:​711.pdf|711}} §1 2011) 
 + 
 +==== 3.04.060 Disbursement ​and Transfer ==== 
 +No money shall be disbursed from the Maintenance Fund except upon warrants from the District Treasurer issued upon the authority of the Board of Commissioners. The District Treasurer may transfer money between subordinate funds and accounts of the Maintenance Fund without a resolution ​of the Board of Commissioners
 +(Res. {{:​711.pdf|711}} §1 2011)
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