Agenda - Council Work Session - 04/26/2016

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(a) The Trott Brook Cemetery Fund will be used to account for perpetual care fees collected on the sale of cemetery plots in Trott Brook Cemetery. 10. Park Trust Fund. Capital Maintenance Fund (ft-) The Capital Maintenance Fund (Fund 9810) will be used to defray the cost of maintaining and/or acquiring park improvements, public facility improvements or any other capital item that has immediate maintenance needs, but was not budgeted for in the annual General Fund operating budget. (b) Funding shall consist of the following uses: (1) Donations (2) Transfers from the General Fund at year-end for excess General Fund Revenue as outlined in the Excess/Deficient General Fund Revenue Policy (#11-11-217). (Resolution # will be amended after amendment of policy) (3) Excess General Fund Revenue Transfer in the amount of 10% of excess (3) Interest Earnings from pooled interest earnings. (1) Potential User fees (future) (c) Expenditures shall consist of the following uses: (1) Fund balanco 2hall be increased to and maintained at $3,000,000 $500,000 unless City Council declares an emergency situation exists. (1) Non -Annual Operating Improvements not included in the annual adopted General Fund Budget Yearly transfer to the General Fund in the amount of 100%, of accrued interest earnings to offset park maintenance costs once $3,000,000 fund balance has been achieved. (2) Transfers to the General Fund at year end for deficient General Fund Revenue as outlined in the Excess/Deficient General Fund Revenue Policy (#11- 11-217); (Resolution # will be amended after policy is amended.) (1) Any capital expenditures (non operating) that would utility principal and are approved by a four fifths vote of the City Council. Subdivision 2. Proprietary Funds a. Enterprise Funds. Enterprise Funds shall be used to account for operations: 1. That are financed and operated in a manner similar to private business enterprises - - where the intent of the Council is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or 2. Where the Council has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. 3. The following are Enterprise Funds: (a) (1) Water Utility Fund. The Water Utility Fund shall be used to account for all water utility revenues and expenses, including depreciation. (2) This fund is eligible for inter -fund loans. Page 11 of 14