Chapter 3.81
EQUIPMENT RENTAL AND REVOLVING FUND
Sections:
3.81.010 Equipment rental and revolving fund created.
3.81.020 Funds administration.
3.81.040 Financial management of the fund.
3.81.010 Equipment rental and revolving fund created.
There is hereby created an equipment rental and revolving fund to be used as a revolving fund to be expended for salaries, wages, and operations required for the repair, replacement, purchase, and operation of equipment, and for the purchase of equipment, materials, and supplies to be used in the administration and operation of the fund. (Ord. 023-18 § 1).
3.81.020 Funds administration.
The equipment rental and revolving fund shall be administered by the finance director or designee in accordance with RCW 35.21.088. The city will establish and follow policies to ensure proper use and management of funds and assets. (Ord. 023-18 § 1).
3.81.030 Equipment included.
All motor vehicles and various equipment owned by the city departments may be transferred to the equipment rental and revolving fund at the direction of the finance director. Certain specialized items of equipment may, at the direction of the finance director, be expressly excluded from the equipment rental and revolving fund. (Ord. 023-18 § 1).
3.81.040 Financial management of the fund.
(1) Origins of Funding. Fund balances of the cumulative reserve for equipment replacement fund, water-sewer equipment replacement fund, and storm equipment replacement fund shall be transferred to the equipment rental and revolving fund herein after the effective date of the ordinance codified in this chapter and at the direction of the finance director. Additional monies from available sources may be placed in the fund from time to time by legislative authority of the city as needed.
(2) Equipment Use Charges. Charges for the use of equipment shall be sufficient to cover the maintenance, operation and replacement of such equipment and the terms for the rental thereof shall be determined by the finance director and approved by the adoption of the budget. Such rental rates shall be reviewed and, if needed, revised to meet changing cost of maintenance, operations and replacement.
(3) Records and Accounts. There shall be kept, as directed by the finance director, such books, accounts and records as are necessary to control and report the financial operations of the equipment rental and revolving fund. Within the fund there shall be separate accounting for operation, maintenance and replacement of the equipment.
(4) Deposits. All monies deposited in the equipment rental and revolving fund and not expended as provided in this chapter shall remain in the fund from year to year and shall not be transferred to any other fund or expended for any other purpose.
(5) Disposition. If at any time hereafter the city council of the city of Port Orchard shall abolish said equipment rental and revolving fund, all monies on deposit therein shall revert to the originating fund source. (Ord. 023-18 § 1).