Chapter 3.32
EQUIPMENT RENTAL FUND
Sections:
3.32.020 Transferal to new fund.
3.32.050 Division into certain accounts.
3.32.060 Withdrawals and expenditures.
3.32.070 Provisions for expenditure or transferal.
3.32.080 Reversion of funds in case of fund abolishment.
3.32.090 Transferal to new fund authorized.
3.32.010 Creation.
There is created and established in the treasury of the city a special fund to be known and designated as the “equipment rental 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 all equipment, materials and supplies to be used in the administration and operation of said fund. (Ord. 2062 § 1, 1985; Ord. 1907 § 1, 1982).
3.32.020 Transferal to new fund.
There is transferred to the “equipment rental fund” established in PMC 3.32.010, all equipment and/or moneys and/or accounts payable and/or accounts receivable now held in the equipment rental fund as the same is presently constituted under Ordinance No. 1497 of the city. (Ord. 1907 § 2, 1982).
3.32.030 Administration.
The equipment rental fund created in this chapter shall be administered by the city manager of the city. (Ord. 1907 § 3, 1982).
3.32.040 Schedule of charges.
The schedule of charges to be paid into said equipment rental fund by the various funds and departments of the city renting equipment from said fund shall be set by the equipment rental fund supervisor, sufficient to cover the cost of maintenance and operation and sufficient for the purchase and replacement of equipment on an individual basis. (Ord. 2079 § 1, 1986; Ord. 2062 § 2, 1985; Ord. 1907 § 4, 1982).
3.32.050 Division into certain accounts.
The director of finance shall keep such books, accounts and records as are necessary to control and report the financial operations of the equipment rental fund and shall further subdivide the fund balance thereof into two separately designated accounts as follows:
(1) Undesignated fund balance, into which shall be placed the net of those portions of the charges made to the various funds and departments of the city to provide sufficient moneys to pay salaries and wages, material, overhead, or other costs necessary to operate and maintain all equipment rented thereto.
(2) Reserved fund balance, into which shall be placed the net of those portions of the charges made to the various funds and departments of the city to provide sufficient moneys (having first taken into consideration the necessary operating and maintenance cost billed under subsection (1) of this section), to pay the costs of purchasing new equipment and replacing used equipment as required to carry out the purposes of the equipment rental fund. There shall also be placed into this account moneys which are derived from the direct sale of any of the equipment or other capital assets of the fund and any moneys which may, from time to time, be made specifically available thereto by action of the city council of the city. (Ord. 2062 § 3, 1985; Ord. 1907 § 5, 1982).
3.32.060 Withdrawals and expenditures.
Any withdrawals or expenditures from said equipment rental fund shall be made only in the following manner:
(1) Expenditures from maintenance and operation account shall be made only upon duly approved payrolls and vouchers of the city for the purposes hereinbefore ascribed to said account.
(2) Expenditures from equipment acquisition and replacement account shall be made only upon duly approved vouchers of the city for the purposes hereinbefore ascribed to said account. (Ord. 1907 § 6, 1982).
3.32.070 Provisions for expenditure or transferal.
All moneys deposited in said equipment rental fund and not expended as provided herein, shall remain in said fund from year to year and shall not be transferred to any other fund or expended for any purpose whatsoever, except as is herein provided; provided, however, any surplus moneys in the fund may be invested in accordance with the investment practices of the city, and may, by action of the city council, be transferred to the current expense fund of the city. (Ord. 1907 § 7, 1982).
3.32.080 Reversion of funds in case of fund abolishment.
If at any time hereinafter the council of the city abolishes said equipment rental fund, then all moneys on deposit therein shall revert to the current expense fund of the city. (Ord. 1907 § 8, 1982).
3.32.090 Transferal to new fund authorized.
All equipment and/or the moneys now held in the “equipment rental fund” as presently constituted under Ordinance No. 1497 of the city are hereby transferred to the “equipment rental fund” established by the ordinance codified in this chapter. (Ord. 1907 § 9, 1982).