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7. Park Improvement Fund. (Fund 9805) <br />(a) The Park Improvement Fund shall be used to account for all cash and park <br />dedication fees and miscellaneous revenues to be used for future land acquisition <br />and park improvements. <br />(b) Funding shall consist of the following sources: <br />(1) Park Dedication fees as outlined in respective development agreements; and <br />(2) Donations; and <br />(3) Interest earnings on the Park Improvement Fund from the distribution of <br />pooled interest earnings. <br />(c) Expenditures shall consist of the following uses: <br />(1) Costs associated with the acquisition of park land and construction of park <br />improvements as detailed in the annual Capital Improvement Program or as <br />approved by the City Council. <br />(d) This fund is eligible for inter -fund loans. <br />8. Equipment Revolving Fund. (Fund 9234) <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 <br />facilities. <br />(b) Funding shall consist of the following sources: <br />(1) Interest earnings on the Equipment Revolving Fund from the distribution <br />of pooled interest earnings; and <br />(2) Transfers from the General Fund at year-end for excess General Fund Revenue <br />as outlined in the Excess/Deficient General Fund Revenue Policy (#24-331). <br />(c) Expenditures shall consist of the following uses: <br />(1) Transfers to the General Fund to provide funding for annual capital equipment <br />purchases as outlined in the ten-year Capital Improvement Plan and the annual <br />General Fund Budget and authorized by majority vote of City Council; and <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 (#24-331); and <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 />9. Trott Brook Cemetery. (Fund 9820) <br />(a) The Trott Brook Cemetery Fund will be used to account for perpetual care fees <br />collected on the sale of cemetery plots in Trott Brook Cemetery. <br />Ordinance #25-12 <br />Page 9 of 13 <br />