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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 J 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 -2- 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 -3- 4 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. -4- U 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 y 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 -5- 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. -6- ti 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 7 Cty Jerk -7-