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#16-05
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<br />ORDINANCE #16-05 <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />AN AMENDMENT TO CHAPTER 3 KNOWN AS THE OPERATIONS AND <br />ADMINISTRATION CHAPTER OF THE CITY CODE <br /> <br />AN ORDINANCE AMENDING CHAPTER 3 AND REPEALING AND REPLACING <br />SECTION 3.40 ENTITLED "CITY FUNDS' <br /> <br />The City of Ramsey ordains: <br /> <br />SECTION 1. AUTHORITY <br /> <br />This ordinance is adopted pursuant to and under the authority of the Home Rule Charter of the <br />City of Ramsey, Section 12.06 and Minnesota Statutes 412.851 <br /> <br /> <br />SECTION 2. AMENDMENT <br /> <br />Chapter 3.40 entitled "City Funds" is hereby repealed and replaced with the following: <br /> <br />3.40 CITY FUNDS <br /> <br />3.40.01 Purpose. <br /> 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 /> <br />3.40.02 Establishment of Funds. <br /> The following funds and fund classifications are <br />established for deposit and disbursement of revenues: <br /> <br />Subdivision 1. Governmental Funds: <br /> <br />a. General Fund. (Fund 9101) <br />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 /> <br /> The General Fund is eligible for inter-fund loans to and from any other fund. <br /> <br /> <br />b. Special Revenue Funds. <br /> Special Revenue Funds are used to account for and <br />report 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 /> <br />The following are the City's Special Revenue Funds: <br /> <br />Page 1 of 11 <br /> <br /> <br />
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