Agenda - Council - 05/10/2016 - Laserfiche WebLink

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6. (a) Economic Development Authority. (Fund 9230) The Economic Development Authority Fund shall account for all revenues and expenditures associated with City economic development activities within the City. Funding shall consist of the following sources: Revenues generated from economic development activities within the City; and Interest earnings on the Economic Development Authority Fund from the distribution of pooled interest earnings. (c) Expenditures shall consist of the following uses: (1) Expenses in the operation of the (2) (3) 7. (a) Economic Authority; and Salaries, benefits and operating costs associated with the management of economic development activities; and Capital expenditures associated with economic development activities within the City as detailed in the annual Capital Improvement Program or as directed by the Economic Development Authority and City Council. Development promotion and Equipment Revolving Fund. (Fund 9234) The Equipment Revolving Fund shall be used to account for resources to finance the replacement/addition of City equipment, vehicles and/or buildings and facilities. (b) Funding shall consist of the following sources: (1) Interest earnings on the Equipment Revolving Fund from the distribution of pooled interest earnings; and (2) Transfers from the General Fund at year-end for excess General Fund Revenue as outlined in the Excess/Deficient General Fund Revenue Policy (#16-05-089). (c) Expenditures shall consist of the following uses: (1) Transfers to the General Fund to provide funding for annual capital equipment purchases as outlined in the five-year Capital Improvement Plan and the annual General Fund Budget and authorized by majority vote of City Council; and (2) Transfers to the General Fund at year end for deficient General Fund Revenue as outlined in the Excess/Deficient General Fund Revenue Policy (#16-05-089); and (3) Transfers to the General Fund for unscheduled, unbudgeted, maintenance repair, whereas such cost exceeds $10,000 and Council declares that an emergency situation has occurred. (d) This fund is eligible for inter -fund loans. 8. (a) Storm Water Management Fund (Fund 9292) The Storm Water Management Fund shall be used to account for contributions from developers to recoup expenses and finance storm water projects that have been, or will be done, to allow additional development to occur. (b) Funding shall consist of the following sources: (1) Developer's Contributions; and (2) Interest Earnings on the Storm Water Management Fund from the distribution of pooled interest earnings. Page 4 of 11 conjunction with