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