Chapter 3.54
RAINY DAY FUND
Sections:
3.54.010 Rainy day fund.
A. The city council creates a city fund to be known as the “rainy day fund.”
B. The rainy day fund will be supported by a budgetary appropriation from any unrestricted tax or revenue source and may also be supported by a transfer from any other unexpended or decreased city fund. Money left in the rainy day fund at the end of the fiscal year remains in the fund unless the city council reappropriates the rainy day funds to another fund in a subsequent, adopted city budget.
C. Withdrawals from the rainy day fund may only be done by transfer to an appropriate operating, capital or debt fund authorized by ordinance or resolution or at the city council’s direction and reflected in council minutes. In giving such direction, council must clearly state the facts constituting the reason for the withdrawal or the emergency, as applicable, and specify the fund to which the withdrawn money will be transferred. (Ord. 2018-002 § 1)