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ORDINANCE #16-0-5 25-12 <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br />AN AMENDMENT TO CHAPTER 32 KNOWN AS THE OPERATIONS AND <br />ADMINISTRATION CHAPTER OF THE CITY CODE <br />AN ORDINANCE AMENDING CHAPTER 32 AND REPEALING AND REPLACING <br />SECTION 3.40 ENTITLED "an( FUNDS' ARTICLE VI — FINANCE; DIVISION 3 <br />(CITY FUNDS) SECTION 2-306 (ESTABLISHMENT OF FUNDS) <br />The City of Ramsey ordains: <br />Section 1. AUTHORITY <br />This ordinance is adopted pursuant to and under the authority of the Home Rule City Charter of <br />the City of Ramsey, under Section 12 06 and Minn of St t„te. 112.M 1 7.9. <br />Section 2. AMENDMENT <br />Chapter 3740 2 Article VI: Division 3 entitled "City Funds" is hereby repealed and replaced with <br />the following: <br />30 Division 3 CITY FUNDS <br />3.40.01 2-305 Purpose. It is the purpose of this section to establish City funds for the deposit <br />and disbursement of monies received by the City of Ramsey, to define policies for funds, and to <br />define which funds are eligible for inter -fund loans. This section is adopted pursuant to and under <br />the authority of Chapter 7 of the City Charter. (Section 7.9). Funds as outlined below follow the <br />same classifications as outlined in the city's annual Annual Comprehensive Annual Financial <br />Report (CAFR) (ACFR). <br />3.40.02 2-306 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 required <br />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 and report <br />the proceeds of specific revenue sources that are restricted or committed to <br />expenditures for specified purposes other than debt service or capital projects. <br />Page 1 of 14 <br />