Lompoc Municipal Code Ch. 3.20 Funds

The General Fund is the depositary of all money received from licenses, fines, penalties and forfeitures as provided for in Section 43400 of the Government Code except for such receipts specifically allocated to another fund by law and for money transferred from other funds as approved by the City Council.

(Prior code § 1508)

To comply with the provisions of Article V of Chapter 1 of Division 1 of the Streets and Highways Code (Section 180 et seq., Section 2100 et seq.), there is established in the City Treasury a special fund to be known as the "Special Gas Tax Street Improvement Fund." All money received by the City from the State under the provisions of said Article for the acquisition of real property or interest therein from, or the construction, maintenance or improvement of, streets and highways, other than State highways, shall be paid into such fund. All money in such fund shall be expended exclusively for the purpose authorized by, and subject to, all the provisions of said Article.

(Prior code § 1509)

Bond funds are the depositaries of money coming in from tax levies or other sources made for redemption of principal and interest in a bond issue which are the obligation of the City and shall be expended only for such bond purposes.

(Prior code § 1510)

The trust and agency funds are the depositary for all money of a trust and agency character, set up by any department, law, ordinance or by resolution or minute action of the Council. The use of the money in such fund shall be restricted to the purpose for which it was received; provided that when such purpose has been fulfilled, and the time in which any claim for repayment of disbursement could be made has expired, such excess may be transferred by Council order to any other fund and use.

(Prior code § 1511)

The water fund is the depositary of all money received from the storage, sale or transmission of water by the City and shall be used for the capital improvement, maintenance and operation of the City's water utility system.

(Prior code § 1512)

The electrical utility fund is the depositary of all money received from the sale of electrical energy and services by the City and shall be used for the capital improvement, maintenance and operation of the City's electric utility system.

(Prior code § 1513)

The sewer revenue fund is the depositary for money received for all charges in furnishing sewer connections and service and shall be used for the capital improvement, maintenance and operation of the City's sewer utility system.

(Prior code § 1514)

The refuse collection utility fund is the depositary of all money received for all charges in furnishing refuse collection and sanitary landfill services and shall be used for the capital improvement, maintenance and operation of refuse collection services and the sanitary landfill.

(Prior code § 1515)

The traffic safety fund is the depositary of money received pursuant to Section 42200 of the Vehicle Code and may be expended only for the purposes outlined in such Section.

(Prior code § 1516)

The City Council may, by resolution, minute order or approval of the annual budget, transfer or loan unencumbered and uncommitted money from any of the funds set out in this Chapter to any other funds; except that it cannot transfer money paid into any fund subject to a use restriction imposed by law, including the provisions of this Title, or by terms of any gift, bequest, device or contract, to any fund out of which expenditures could be made inconsistent with such use restriction. Transfers from unencumbered and uncommitted utility funds to the general fund for administrative and other City services shall not be considered inconsistent with the provisions of this Title.

(Prior code § 1518)

The Management Services Director is authorized to establish any additional funds as may be required for compliance with generally accepted accounting principles or applicable State or Federal laws or regulations.

(Prior code § 1519)