Chapter 3.82
CONTINGENCY FUND
Sections:
3.82.020 Source of funds—Limitation on amount—Lapse.
3.82.030 Purposes—Expenditures.
3.82.010 Fund created.
There is created a special fund to be known as the contingency fund. (Ord. 1273 § 1 (part), 1970).
3.82.020 Source of funds—Limitation on amount—Lapse.
(a) The contingency fund may be supported by a budget appropriation from any tax or other revenue source not restricted in use by law, or also may be supported by a transfer from other unexpended or decreased funds made available by ordinance as set forth in RCW 35.33.121.
(b) The total amount accumulated in such fund at any time shall not exceed the equivalent of one and one-half mills on each dollar of assessed valuation of property within the city at that time.
(c) Any moneys in the contingency fund at the end of the fiscal year shall not lapse except upon reappropriation by the council to another fund in the adoption of a subsequent budget. (Ord. 1273 § 1 (part), 1970).
3.82.030 Purposes—Expenditures.
(a) The moneys in the contingency fund may be used to meet any municipal expense, the necessity or extent of which could not have been foreseen or reasonably evaluated at the time of adopting the budget, or from which to provide moneys for those emergencies described in RCW 35.33.081 and 35.33.091.
(b) No expenditures shall be made from such fund unless the city council shall approve such expenditure by passing an ordinance appropriating money within the fund for the purpose for which the expenditure is to be made or by including an appropriation for such purpose in the budget. (Ord. 2022-007 § 15, 2022; Ord. 1273 § 1 (part), 1970).