1-01 City Funds
RESOLUTION NO. 01-01
A RESOLUTION CREATING 2 NEW RESERVE FUND ACCOUNTS AND THE TRANSFERS AND CLOSURES OF 8 OTHER FUNDS
WHEREAS, there has been a need to simplify the budget to make bookkeeping more efficient; and
WHEREAS, the City of Sodaville has taken steps to assure that they [sic] changes are acceptable to the State and Government [sic]
NO, THEREFORE, BE IT HEREBY RESOLVED:
That the City of Sodaville does hereby create two new reserve funds.
Capital Acquisition Reserve Fund; this fund will be used for major acquisitions of property or equipment that is in excess of $5,000.00.
Major Repair and Maintenance Reserve Fund; this fund will be used for major repairs and maintenance that is in excess of $5,000.00.
In the budget year 2001-2002 the following funds will be transferred in their entirety to the Capital Acquisitions Reserve Fund,
Community Development $57,750.00
Storm Drainage SDC $10,700.00
Water Utility Low Zone Special Area Improvement SDC $6,600.00
Water Utility High Zone Special Area Improvement SDC $3,850.00
Water Utility Central Facilities Reimbursement SDC $9,695.00
$88,595.00
In the budget Year 2001-2002 the following funds will be transferred in the entirety to the Major Repair and Maintenance Reserve Fund,
Water Utility Unrestricted Improvements SDC $2,000.00
Water Utility Central Facilities Improvements SDC $36,530.00
Water Reserve 2002 $40,000.00
$78,530
All System Development Charges will be tracked internally.