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ORDINANCE #04-36 15-XX <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br />AN AMENDMENT TO CHAPTER 3 KNOWN AS THE OPERATIONS AND <br />ADMINISTRATION CHAPTER OF THE CITY CODE <br />AN ORDINANCE AMENDING CHAPTER 3 AND REPEALING AND REPLACING <br />SECTION 3.40 ENTITLED "CITY FUNDS' <br />The City of Ramsey ordains: <br />Section 1. AMENDMENT <br />Chapter 3.40 entitled "City Funds" is hereby repealed and replaced with the following: <br />3.40 CITY FUNDS <br />3.40.01 Purpose. It is the purpose of this section to establish City funds for the <br />deposit and disbursement of monies received by the City of Ramsey, to define policies for funds, <br />and to define which funds are eligible for inter -fund loans. This section is adopted pursuant to <br />and under the authority of Chapter 7 of the City Charter. (Section 7.9). Funds as outlined below <br />follow the same classifications as outlined in the city's annual Comprehensive Annual Financial <br />Report (CAFR). <br />3.40.02 Establishment of Funds. The following funds and fund classifications are <br />established for deposit and disbursement of revenues: <br />Subdivision 1. Governmental Funds: <br />a. General Fund. (Fund 9101) The General Fund is the general operating fund of <br />the City. It shall be used to account for all financial resources except those <br />required to be accounted for in another fund. <br />The General Fund is eligible for inter -fund loans to and from any other fund. <br />b. Special Revenue Funds. Special Revenue Funds are used to account for specific <br />revenue sources (other &am c al xygessments, expendable trusts, or major <br />capital projects) that are legally restricted to expenditures for specified purposes. <br />Special Revenue Funds are used to account for and report the proceeds of specific <br />revenue sources that are restricted or committed to expenditures for specified <br />purposes other than debt service or capital projects. <br />The following are the City's Special Revenue Funds: <br />1. Tax Increment Fund. (Funds 9201-9214) <br />(a) The Tax Increment Funds shall be used to account for the revenue received from <br />general property taxes in the form of tax increments for the City's tax increment <br />Page 1 of 14 <br />