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title_3:3.04_maintenance_fund [2011/12/07 18:00] (current)
dustin Created Res 711
Line 1: Line 1:
 +====== Chapter 3.04 - Maintenance Fund ======
  
 +==== 3.04.010 Establishment ====
 +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.
 +(Res. {{:​711.pdf|711}} §1 2011: Res. {{:​403.pdf|403}} §1, 1984)
 +
 +==== 3.04.020 Water and Sewer Revenue Bond Redemption Fund ====
 +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.
 +(Res. {{:​711.pdf|711}} §1 2011: Res. {{:​403.pdf|403}} §2, 1984)
 +
 +==== 3.04.030 Debt Service 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. {{:​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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