Agenda - Council - 10/26/1993 - Laserfiche WebLink

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(~) (1) Sewer Utility Fund. The Sewer Utility Fund shall be used to account for all sewer utility revenues and expenses, including depreciation. (2) This fund is eligible for inter-fund loans. (c) (1) Street Lighting Utility Fund. The Street Lighting Utility Fund shall be used to account for all street lighting revenues and expenses, including depreciation of City owned street lights within subdivisions. (2) This fund is eligible for inter-fund loans. (d) Internal Service Funds. Internal Service Funds arc used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the City, or to other governmental units, on a cost- reimbursement basis. Subdivision 3. Trust and Agency Funds. Trust and Agency Funds shall be used to account for assets held by the City in a trustee capacity for individuals, private organizations, other governments, and/or other funds. Expendable Trust Funds. Expendable Trust Funds are funds whose principal and income may be expended in the course of designated operations. The following are Expendable Trust Funds: 1. Landfill Expendable Trust Fund. (a) The Landfill Expendable Trust Fund shall be used to account for royalty receipts received from landfill monthly gross revenues .and the disposition of those receipts. (b) (1) (2) (3) Funding shall consist of the following sources: Ten percent of monthly gross revenues, generated during the life of the Anoka Regional Sanitary Landfill; and Transfers from the MSA Fund, through 1996, for re-payment of a loan in 1991 for MSA projects; and Interest earnings on the Landfill Expendable Trust Fund from the distribution of pooled interest earnings. (c) (1) (2) (3) (4) (5) Expenditures shall consist of the following uses: Payment of any legal costs related to the landf'fll closure and post closure; and Transfers to the Park Improvement Revolving Fund, on an annual basis, in an amount not to exceed the interest available in the Landfill Expendable Trust Fund and as detailed in the annual Capital Improvement Program as defined by City Council; and Transfers to other non-operating City funds to offset, retire or avoid future debt. This amount, when combined with the above transfers and payments, shall not exceed the amount of interest earnings available to the Landfill Expendable Trust fund; and Any capital expenditures (non-operating) that would utilize principal and are approved by a four-fifths vote of the City Council; and Any loans or transfers for other than capital expenditures shall be authorized only if the City Council declares an emergency situation to exist. Page 7 of i0 I I I ! I I I I I I I I I I ! I ! I I