HomeMy WebLinkAbout067 - 01/07/1975 - ESTABLISHING FUNDS OF THE CITY, SETTING FORTH THE PURPOSES AND LIMITATIONS OF SUCH FUNDS, SPECIFYING ORDINANCE NO 67 , 1974
BEING AN ORDINANCE ESTABLISHING FUNDS OF THE CITY,
SETTING FORTH THE PURPOSES AND LIMITATIONS OF SUCH
FUNDS, SPECIFYING THE ASSETS OF SUCH FUNDS AND
REPEALING CERTAIN SECTIONS OF THE CODE OF THE
CITY OF FORT COLLINS
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
Section 1 Pursuant to Section 26 of Article V of the Charter of
the City of Fort Collins, there is hereby created a fund to be known as the
General Fund which shall consist of the following
A All cash balances of the City not specifically belonging
to any existing special fund of the City
B All fixed assets of the City Gto be separately designated
in an account known as the "General Fund Fixed Assets") not specifically
belonging to any existing special fund of the City
Section 2 Pursuant to Section 27 of Article V of the Charter of
the City of Fort Collins, the following special funds are hereby created
A Capital Improvement Fund
1 There is hereby created a special fund to be known as
the Capital Improvement Fund Assets in such fund shall be segregated into
separate accounts which shall describe the purposes for which such assets
were placed in the fund Each account shall be separately kept and main-
tained as if each account were a separate special fund Such accounts
initially shall include a Park Land Fee Account, a Storm Sewer Fee Account,
a Seven-Year Capital Improvement Program Account, a Conservation Trust
Fund Account, and such other accounts as may be authorized by the City
Council or necessary- to separately segregate assets in this fund earmarked
for particular purposes
2 Into said fund shall be transferred as of the effective
date of this ordinance, the balance in the Capital Improvement Fund created
by Sections 30-20 through 30-24 of the Code of the City of Fort Collins, all
Park Land fees on hand collected pursuant to Chapter 82 of the Code of the
City of Fort Collins, all amounts on hand in the special Capital Improve-
ments Fund created by Ordinance No 99, 1972, and the balance in the Conserva-
tion Trust Fund created by Ordinance No 41, 1974
3 There shall be deposited to such fund such amounts as
the City Council may, from time to time, appropriate to this fund There
shall be deposited to such fund all donations made to the City for which the
donor requests a special use which would make it inappropriate to place a
donation in the General Fund or another special fund There shall be
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deposited to said fund, in the appropriate account, all amounts received
by the City as Park- Land fees, storm sewer fees and similar earmarked
funds
4 Expenditures shall be made from such fund for the
purpose of providing for the payment of capital improvements or to satisfy
the terms and conditions of any donation as may be provided for by the City
Council from time to time Appropriations from accounts within such fund
shall be made only- for the purpose for which such account was created,
provided, however, that if the City Council finds and determines that there
are amounts in any account in excess of the amount required to satisfy the
purpose of such- account, the Council may by ordinance authorize the transfer
of such excess amount to any other account or any other fund of the City
B Special Assessment Fund
1 There is hereby created a special fund to be known
as the Special Assessment Fund
2 There shall be transferred into said fund as of the
effective date of this ordinance all amounts then on hand received on
account of special assessments against property made pursuant to Chapter 16
of the Code of the City of Fort Collins, together with all amounts on hand
received from special assessments against property for other improvements
such as sidewalk repairs (Section 95-43 of the Code of the City of Fort
Collins) , care, protection and removal of trees (Sections 109-20 and 109-21
of the Code of the City of Fort Collins) , and weed removal and control
(Sections 79-6 and 79-7 of the Code of the City of Fort Collins) Assets
in such funds shall be segregated into accountsrepresenting the separate
projects out of which such assets arose, and in addition there shall be
created a separate account within such fund for surpluses and deficiencies
as required by Section 20 6(b) of the Charter of the City of Fort Collins
3 Such funds shall be used for payment of special
assessment bonds issued in connection with the special improvement district
to which the funds relate and for payment of other obligations for the pay-
ment of which such funds were collected
C Trust Fund
1 There is hereby created a special fund to be known
as the Trust Fund, which fund shall be divided into separate accounts to
segregate according to purpose the various amounts in the fund Such
accounts shall initially include a Firemen's Pension Account, a Policemen's
Pension Account, an Employee's Retirement Account, a Perpetual Care Account,
a Rockwell Ranch Account, a Revenue Sharing Account, a Fort Collins-Loveland
Airport Account, andsuchother accounts as may be necessary to properly
identify and segregate assets of the fund or as may be authorized by the
City Council
2 Into said fund shall be transferred all amounts
on hand as of the effective date of this ordinance in the following funds
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and accounts., to-wit The Firemen's Pension Fund created by Article IX of
Chapter 2 of the Code of the City of Fort Collins, the Policemen's Pension
Fund created by Article X of Chapter 2 of the Code of the City of Fort
Collins, the Employee's Retirement Fund created by Resolution 71-8, the
Perpetual Care Fund created by Section 42-8 of the Code of the City of
Fort Collins, the Roselawn Cemetery Perpetual Care Fund, the Rockwell Ranch
Fund, all Revenue Sharing Funds on hand received from the federal government,
and the Fort Collins-Loveland Airport Fund All such, amountsshall be
transferred into the specific account corresponding with the source of
such funds
3 There shall be deposited to such fund all amounts
received or appropriated by the City for the Firemen's Pension, the Police-
men's Pension, Employee's Retirement, Cemetery Perpetual Care, the Rockwell
Ranch, Federal Revenue Sharing, the Fort Collins-Loveland Airport Fund, or
other amounts received or appropriated and held in trust by the City
4 Expenditures shall be made from such fund from time
to time to satisfy the purposes for which amounts were received or appro-
priated and disbursements from accounts within such fund shall be made only
for the purpose for which such account was created, provided, however, that
if there are amounts in any- account in excess of the amount required to
satisfy the purpose of such account and if the Council otherwise has the
authority to so do, the Council may, by ordinance, authorize the transfer
of such excess amount to any other account or any other fund of the City
D Equipment Fund
1 There is hereby created a special fund to be known
as the Equipment Fund
2 There shall be transferred into said fund as of the
effective date of this ordinance all assets then on hand in the Equipment
Fund heretofore maintained by the City, including all cash- and all fixed
assets carried in the name of such existing Equipment Fund
3 All amounts received by said fund on account of the
use of equipment belonging to the fund by other departments of the City and
all amounts appropriated by the City Council to such fund shall be placed
in the Equipment Fund
4 Expenditures shall be made from such fund from time
to time as authorized by the City Council If at any time the City Council
finds and determines that there are amounts of cash in such fund in excess
of the amount required to satisfy the purpose of the fund, the Council, by
ordinance, may authorize the transfer of such excess amounts to any other
fund of the City
E Water Fund
1 There is hereby created a special fund to be known as
the Water Fund Assets in such fund shall be segregated into separate accounts
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which shall describe the purpose for which such accounts were placed in the
Water Fund Each_ account shall be separately kept and maintained as if each
account were a separate special fund Such accounts shall include the
accounts necessary to satisfy the requirements of the City Charter, including
a Working Account, a Depreciation and Capital Improvements Account, and an
account for the payment of bonds issued by the City to extend or improve
the water utility There shall be such additional accounts within such
fund as necessary to segregate and identify assets of such fund set aside
for particular purposes by ordinances or other actions of the City Council
2 Into such fund shall be transferred as of the effective
date of this ordinance the cash balance then on hand in the following funds
now maintained by the City, to-wit The Water Extension and Improvement
Fund, the Water Bond Principal Fund, and the Water Operating Fund In
addition, there shall be transferred into such fund all fixed assets owned
by the Water Department of the City
3 There shall be placed in said fund from time to time
all earnings of the Water Utility of the City and such- additional amounts
as may be appropriated to such fund by the City Council In addition, there
shall be placed in such fund any receipts from the sale of bonds issued
by the City for the purpose of extending or bettering the Water Utility,
any grants received from the Federal or State government to be used for
the extension or betterment of the Water Utility, and any amounts earned
through the investment of the assets of the fund
4 Expenditures shall be made from such fund for the
purpose of operating the Water Utility, providing extensions and betterments
to the Water Utility, and for such other purposes relating to the Water
Utility as may be authorized by law Expenditures from accounts within such
fund shall be made only for the purpose for which such account was created,
provided, however, that if the City Council finds and determines that there
are amounts in any account in excess of the amount required to satisfy the
purpose of such account, the City Council may, by ordinance, authorize the
transfer of such excess amount to any other account or any other fund of the
City It shall further be proper for the City Counci_l to authorize the
lending of amounts in excess of the immediate needs of such fund to other
funds of the City upon such terms and conditions as the Council may prescribe
F Sewer Fund
1 There is hereby created a special fund to be known as
the Sewer Fund Assets in such fund shall be segregated into separate accounts
which shall describe the purpose for which such accounts were placed in the
Sewer Fund Each account shall be separately kept and maintained as if each
account were a separate special fund Such accounts shall include the
accounts necessary to satisfy the requirements of the City Charter, including
a Working Account, a Depreciation and Capital Improvement Account, and an
account for the payment of bonds issued by the City to extend or improve
the sewer utility There shall be such additional accounts within such
fund as necessary to segregate and identify assets of such fund set aside
for particular purposes by ordinances or other actions of the City Council.
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2 Into such fund shall be transferred as of the effective
date of this ordinance the cash balance then on hand in the following funds
now maintained by the City, to-wit The Sewer Extension and Improvement
Fund, the Sewer Bond Principal Fund, and the Sewer Operating Fund In
addition, there shall be transferred into such fund all fixed assets owned
by the Sewer Department of the City
3 There shall be placed in said fund from time to time
all earnings of the Sewer Utility of the City and such additional amounts
as may be appropriated to such fund by the City Council In addition, there
shall be placed in such fund any receipts from the sale of bonds issued
by the City for the purpose of extending or bettering the Sewer Utility,
any grants received from the Federal or State government to be used for
the extension or betterment of the Sewer Utility, and any amounts earned
through the investment of the assets of the fund
4 Expenditures shall be made from such fund for the
purpose of operating the Sewer Utility, providing extensions and betterments
to the Sewer Utility, and for such other purposes relating to the Sewer
Utility as may be authorized by law Expenditures from accounts within such-
fund shall be made only for the purpose for which such account was created,
provided, however, that if the City Council finds and determines that there
are amounts in any account in excess of the amount required to satisfy the
purpose of such account, the City Council may, by ordinance, authorize the
transfer of such excess amount to any other account or any other fund of the
City It shall further be proper for the City Council to authorize the
lending of amounts in excess of the immediate needs of such fund to other
funds of the City upon such terms and conditions as the Council may prescribe
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G Light and Power Fund
1 There is hereby created a special fund to be known as
the Light and Power Fund Assets in such fund shall be segregated into
separate accounts which shall describe the purpose for which such accounts
were placed in the Light and Power Fund Each account shall be separately
kept and maintained as if each account were a separate special fund Such
accounts- shall include the accounts necessary to satisfy the requirements of
the City Charter, including a Working Account, a Depreciation and Capital
Improvement Account, and an account for the payment of bonds issued by the
City to extend or improve the light and power utility There shall be such
additional accounts within such fund as necessary to segregate and identify
assets of such fund set aside for particular purposes by ordinances or
other actions of the City Council
2 Into such fund shall be transferred as of the effective
date of this ordinance the cash balance then on hand in the following funds
now maintained by the City, to-wit The Light and Power Extension and
Improvement Fund, the Light and Power Depreciation and Obsolescence Fund
and the Light and Power Operating Fund in addition, there shall be
transferred into such fund all fixed assets owned by the Light and Power
Department of the City
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3 There shall be placed in said fund from time to time
all earnings of the Light and Power Utility of the City and such additional
amounts as may be appropriated to such fund by the City Council In
addition, there shall be placed in such fund any receipts from the sale
of bonds issued by the City for the purpose of extending or bettering the
Light and Power Utility, any grants received from the Federal or State
government to be used for the extension or betterment of the Light and
Power Utility, and any amounts earned through the investment of the assets
of the fund
4 Expenditures shall be made from such fund for the
purpose of operating the Light and Power Utility, providing extensions and
betterments to the Light and Power Utility, and for such other purposes
relating to the Light and Power Utility as may be authorized by law
Expenditures from accounts within such fund shall be made only for the
purpose for which such account was created, provided, however, that if the
City Council finds and determines that there are amounts in any account in
excess of the amount required to satisfy the purpose of such account, the
City Council may, by ordinance, authorize the transfer of such excess amount
to any other account or any other fund of the City It shall further be
proper for the City Council to authorize the lending of amounts in excess
of the immediate needs of such fund to other funds of the City upon such
terns and conditions as the Council may prescribe
Section 3 The effective date of this ordinance shall be
January 1, 1975, and all funds created hereunder shall go into effect on
such. date and all transfers into such funds shall be made as of such
effective date
Section 4 Moneys in the funds herein created shall be
in the custody of and managed by the Director of Finance The Director of
Finance shall maintain accounting records and account for all of said moneys
as provided by law Moneys in the funds of the City shall be invested or
deposited by the Director of Finance in accordance with the provisions of
law All income from the assets of any fund shall become a part of the fund
from which derived and shall be used for the purpose for which such fund
was created, provided, however, that except as otherwise provided in this
ordinance or by other ordinances or laws or by the Charter of the City,
the City Council may transfer out of any fund any amount at any time to
be used for such purpose as the Council may direct
Section 5 All ordinances or parts of ordinances in conflict
herewith are hereby repealed and in particular, Sections 30-1 through 30-24,
of the Code of the City of Fort Collins, are hereby repealed, such repeal to
be effective on the effective date of this ordinance and the transfer of any
amounts in existing funds to the funds herein created Except as speciFic
ordinances were expressly repealed above, this ordinance shall not repeal
any ordinance levying any tax or establishing any fee and earmarking for
a particular purpose the funds derived from such tax or fee, but any such
fund shall be placed in the appropriate fund or account created herein.
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Introduced; considered favorably on first reading, and ordered
published this 19th_^day of December, A D 1974, and to be pres�ted for
final passage on t e day of )tn A D 197 ,S
ATTEST —"-
CityCICilc-
Passed and adopted on final reading this �day of J�n L�La r ,
A D. 197 '
ATTEST Mayor
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Cty Jerk
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