Chapter 3.66
CAPITAL IMPROVEMENT FUNDS

Sections:

3.66.001    City policy – Use of capital improvement funds.

3.66.005    Repealed.

3.66.010    Repealed.

3.66.015    Closed.

3.66.020    Repealed.

3.66.030    Real estate excise tax fund.

3.66.035    Real estate excise tax – Street overlay.

3.66.040    Closed.

3.66.001 City policy – Use of capital improvement funds.

It is the policy of the city that funds may be established, with approval by city council and as the need arises, to account for specific and significant capital improvements for which separate fund accounting is prudent and/or prescribed by the Washington State Auditor’s Office. Such funds will account for the receipt and disbursement of resources used to construct, acquire, improve upon or otherwise enhance city governmental or business-type infrastructure, parks, facilities, roadways, equipment or any other such item that qualifies as a capital asset of the city in accordance with city policy. The assignment of fund numbers and designation of governmental or business-type will be carried out by the finance director in accordance with the Washington State Auditor’s Office and/or generally accepted accounting practices. Once the need for any such funds has been eliminated the funds will be closed, except for those funds in which there are ongoing capital resources and disbursements occurring, which are those authorized in WRMC 3.66.015, Street fund, 3.66.030, Real estate excise tax fund, 3.66.035, Real estate excise tax fund – Street overlay, and 3.66.040, Transportation improvement program fund. [Ord. 8-15 § 1, 2015].

3.66.005 General government facility fund.

Repealed by Ord. 8-15. [Ord. 5-04 § 2, 2004].

3.66.010 Water/sewer fund.

Repealed by Ord. 8-15. [Ord. 29-95 § 1, 1995; Ord. 56-94 § 1, 1994].

3.66.015 Street fund.

Closed by Ord. 20-15. [Ord. 5-04 § 2, 2004].

3.66.020 Library/City Hall fund.

Repealed by Ord. 8-15. [Ord. 29-95 § 1, 1995].

3.66.030 Real estate excise tax fund.

There is hereby created a fund entitled “capital improvement fund – real estate excise tax – public works improvements,” into which shall be placed all funds collected and received by the city pursuant to the provisions of WRMC 5.20.010. This fund shall be used solely for financing capital projects specified in the capital facilities element of the comprehensive plan. [Ord. 29-97 § 1, 1997].

3.66.035 Real estate excise tax – Street overlay.

There is hereby created a fund entitled “capital improvement fund – real estate excise tax fund – street overlay,” into which shall be placed all funds collected and received by the city pursuant to the provisions of WRMC 5.20.015. This fund shall be used solely to pay for the cost of implementing a systematic street overlay program, as provided for in the capital facilities element of the comprehensive plan. [Ord. 29-97 § 2, 1997].

3.66.040 Transportation improvement program fund.

Closed by Ord. 20-15. [Ord. 5-04 § 2, 2004; Ord. 29-95 § 1, 1995].