Chapter 4.20
FUNDS
Sections:
4.20.020 Deposits of street fund.
4.20.030 Arterial street fund created.
4.20.040 Contributions of arterial street fund.
4.20.050 Expenditures of arterial street fund.
4.20.060 Cumulative Reserve Fund No. 1.
4.20.070 Disbursement of moneys.
4.20.080 Cumulative reserve funds.
4.20.090 Contingency fund – Current expense.
4.20.100 Local capital improvements fund.
4.20.110 Community development grants fund.
4.20.120 Affordable housing sales and use tax fund.
4.20.010 Street fund created.
The creation of the city street fund is made to pay for all the expenditures for alterations, construction, repairs and maintenance of the city streets, replacing the highway fund now in use. (1967 code § 2.20.010)
4.20.020 Deposits of street fund.
The deposits of all receipts for proper street purposes shall be deposited in the new fund. (1967 code § 2.20.020)
4.20.030 Arterial street fund created.
There is created a fund to be known as the arterial street fund, pursuant to Chapter 7, Laws of the 1961 Extraordinary Session of the State of Washington. (1967 code § 2.20.030)
4.20.040 Contributions of arterial street fund.
The arterial street fund shall be credited with all applicable state gas tax allocated to the city, funds contributed by the city and any other funds that may from time to time be authorized to be placed therein. (1967 code § 2.20.040)
4.20.050 Expenditures of arterial street fund.
The arterial street fund shall be used exclusively for the construction, improvement and repair of the arterial streets in the city, and all expenditures from the fund shall be made in accordance with the provisions of the laws of the state. (1967 code § 2.20.050)
4.20.060 Cumulative Reserve Fund No. 1.
There is created Cumulative Reserve Fund No. 1, which fund shall be designated “Cumulative reserve fund for establishing a city of East Wenatchee library building.” (1967 code § 2.20.060)
4.20.070 Disbursement of moneys.
Any moneys received from the devise of David Holmberg, deceased, shall be placed in Cumulative Reserve Fund No. 1, and shall be allowed to accumulate from year to year until expended by resolution of the city council for the construction or purchase or remodeling of all or a part of a library building in the city, when the same may be deemed necessary for the public benefit and welfare of the people of the city. (1967 code § 2.20.070)
4.20.080 Cumulative reserve funds.
A. There is established as part of the budget for each fiscal year in the city the following cumulative reserve funds:
1. Police and city vehicles;
2. Storm drains;
3. City hall building, improvement and new building; fire department building and improvements; purchase of equipment and fixtures for city hall building, fire department building, and improvements of the same or for any new buildings;
4. North Main Street improvement and renewal project;
5. Retirement fund for public employees for anticipated retirement system for all public employees.
B. Each of these specified cumulative reserve fund accounts shall be added to the budget beginning with the fiscal year for 1979. Such funds shall carry over from year to year and be established in the budget from year to year. These funds shall cumulate from year to year and not lapse into the general fund at the end of the fiscal year such funds are not expended.
C. Any new fund to be allocated to such cumulative reserve accounts shall be set during normal budget procedures as outlined by the Revised Code of Washington. Such new funds shall be in addition to any cumulated funds in such account.
D. Any funds in the respective cumulative reserve accounts shall be spent only for those projects specified for that account. During any fiscal year the city may elect to spend the funds from such account for the specified projects by majority vote of the council members. It shall not require a new ordinance to spend funds from these accounts.
E. If any individual cumulative reserve fund account shall be depleted in its entirety such account shall not lapse, but shall remain within the budget of the city until deleted by ordinance amending this chapter. (Ord. 322 § 2, 1981; Ord. 299 § 1, 1980; Ord. 288 § 2, 1979; Ord. 272, 1978)
4.20.090 Contingency fund – Current expense.
A. There is created for the city and to be maintained in their budget a new fund entitled “contingency fund – current expense”. Such fund is created pursuant to RCW 35A.33.145 for the purpose of meeting any municipal expenses, the necessity or extent of which cannot be foreseen or reasonably evaluated at the time of adopting the annual budget for the city. Such funds shall also be used to provide money for any emergencies which are allowed and authorized under RCW 35A.33.080 and 35A.33.090.
B. Such fund shall be funded by revenues which are not restricted in use by law and may be afforded from time to time by transfers from other unexpended or decreased funds as made available by ordinances of the city pursuant to RCW 35A.33.120.
C. The total amount in such fund at any one time shall not accumulate to a dollar figure in excess of the equivalent of thirty-seven and one-half cents per thousand dollars of assessed valuation of the property within the city at any such time. However, at such time as the fund has been wholly or partially depleted, such fund may be supported by transfers from other unencumbered, unexpended or decreased funds as set forth in this chapter.
D. Funds remaining in such account at the end of the fiscal year shall not lapse except upon reappropriation by the city council to some other fund within the appropriate accounts and budget of the city at the time of adopting a new budget for the ensuing year.
E. Any moneys accumulated in such contingency fund shall be withdrawn only for the purposes of meeting the needs as set forth in subsection A of this section. Upon determining that such funds from this account shall be transferred, the city council shall pass a resolution which shall be adopted by a majority vote of the entire council. Such resolution or ordinance shall clearly state the facts constituting the reason for the withdrawal or the emergency and shall further specify the fund to which said funds shall be transferred to meet the specified expenditure. (Ord. 374, 1984)
4.20.100 Local capital improvements fund.
There is created a special fund known as the “local capital improvements fund,” into which shall be deposited all proceeds of the tax imposed by Chapter 4.18 EWMC and distributed to the city. (Ord. 88-13 § 2, 1988)
4.20.110 Community development grants fund.
There is created a special fund known as the “community development grants fund” into which shall be deposited all grant fund monies received and restricted for noncapital project purposes primarily related to activities associated with the city community development department. The proceeds of these specific revenue sources shall be restricted to expenditures for specific purposes as designated by the grants associated with the funds. (Ord. 06-06 § 1, 2006)
4.20.120 Affordable housing sales and use tax fund.
A. There is created a special revenue fund for the city of East Wenatchee, to be known as the “affordable housing sales and use tax fund,” into which shall be deposited all monies received from a portion of sales and use taxes otherwise required to be collected and paid to the Department of Revenue pursuant to legislation enacted by the 2019 Washington State Legislature and imposed under EWMC 4.50.010.
B. This fund has been created to receive that portion of sales and use tax credited back to the city for the purpose of acquiring, constructing or rehabilitating affordable housing or facilities providing supportive housing, paying for the operation and maintenance costs of new units of affordable or supportive housing, and providing rental assistance to tenants whose income is at or below 60 percent of the median household income within the Wenatchee standard metropolitan statistical area.
C. Any unexpended funds remaining in the affordable housing sales and use tax fund at the end of a budget period shall not be transferred to the general fund or otherwise lapse. The funds shall be carried forward from year to year until expended for a purpose set forth in subsection B of this section. (Ord. 20-05 § 5, 2020)